Basquiat painting sells for HK$861.6 million at auction

A painting by late artist Jean-Michel Basquiat sold for a staggering US$110.5 million (HK$861.6 million) at a Sotheby’s auction in New York. The sale of the untitled painting set a number of records, including the highest price ever paid for a post-1980 artwork and the most expensive American artwork ever sold at auction.

Although Basquiat is lesser known than Pablo Picasso, Francis Bacon and Andy Warhol, he has joined their ranks in the $100 million-plus club. Basquiat’s Untitled painting (1982) depicts a grimacing skull on canvas. It’s rich with imagery that is now synonymous with Basquiat, such as the graffiti-like typography sprawling across the canvas. The Brooklyn-born artist was 21 when he painted it, but the haunting skull foreshadowed darker things to come: just six years later, he died of a heroin overdose.

The painting was purchased by collector Yusaku Maezawa, who plans to house it in a museum in his hometown of Chiba, Japan. “When I saw this painting, I was struck with so much excitement and gratitude for my love of art,” Maezawa says. “I want to share that experience with as many people as possible around the world.” Maezawa is clearly a big fan of Basquiat, as he helped set a previous auction record for the artist in May 2016 when he purchased another untitled work for US$57.3 million.

Footballer pays HK$9.9 million for custom-made car keys

When you’re ranked among the world’s best and most bankable footballers, skimping on gifts for friends and teammates simply isn’t an option. David Luiz, who plays for English club Chelsea, treated his teammates to custom-made car keys worth a combined total of £1million (HK$9.9 million) after they won the Premier League. Far from ordinary, these diamond-encrusted supercar keys can be worn like bracelets, and they sync up with a number of luxury car brands such as Lamborghini, Ferrari and Bugatti.
The UK-based company, Senturion, claims to be “the world’s first and only creator of ultra-luxury wristwear pieces” that synchronise with supercars. One of its models, the Emperor, features handcrafted rose gold, black diamonds, leather and titanium. It’s limited to just seven pieces in the world, practically guaranteeing that you won’t bump into anyone else with the same one. In fact, the brand calculates that only one in a billion people is a Senturion owner. Most impressively, pieces from the brand’s Meteorite Edition are forged from a 4-billion-year-old meteorite, and no two pieces in the collection are the same. It was one of these models that Luiz gifted to Chelsea owner Roman Abramovich – a surefire way to get on the boss’s good side.

Emperor’s Old Watch: Royal Rolex breaks record

Rolex is a name synonymous with luxury, but that reputation didn’t make it any less surprising when the brand’s Bao Dai wristwatch sold for US$5 million (HK$39 million). The recent sale cemented the rare Rolex’s position as the most expensive watch ever sold, and for good reason: it had a royal owner. Emperor Bao Dai, whose name means “keeper of greatness”, was the last emperor of Vietnam. In 1954, during talks in Switzerland with world leaders to negotiate with the Viet Minh over Vietnam’s future, Emperor Bao Dai broke away from the meeting and popped into a Rolex shop.

He wasn’t willing to accept any old watch from the showroom, though. Instead, he asked staff members to fetch the rarest and most precious Rolex ever made. A clerk was dispatched from Rolex’s workshops on the outskirts of Geneva, bringing with him a rare timepiece: the Rolex reference 6062 in yellow gold. Only three models of this watch are known to exist, but the Bao Dai is the only one with diamond markers on the even hours. The watch is so sought after that it prompted an eight minute bidding war between 13 bidders at a recent Phillips auction. The lucky buyer probably doesn’t boast any royal blood, but he still gets to become a “keeper of greatness” in his own right.

Sculpture by Roy Lichtenstein sells for HK$80.5 million at auction

American artist Roy Lichtenstein’s work is widely recognised for its characteristic pop art style and comic strip-inspired motifs.

During his hey-day in the 1960s, he used tiny dots – similar to the Ben Day dots that were once used in comics, but more exaggerated – to give his characters shading and dimension. The technique quickly became one of his hallmarks, and those iconic red dots can be seen in one of the latest Lichtenstein pieces to head to the auction block. The sculpture, Woman: Sunlight, Moonlight, sold for US$10.3 million (HK$80.5 million) at Phillips auction house in New York on 18 May.

Woman: Sunlight, Moonlight was created in 1996, just a year before Lichtenstein died of pneumonia in New York City. It is also considered to be one of the finest works of his career. At more than three feet tall (nearly one metre), the bust is quite the head-turner, especially when placed in an otherwise drab room. It’s double-sided and shows a unique image of a woman on each side.

Lichtenstein frequently portrayed – and parodied – stereotypically masculine and feminine roles as they were depicted in comics.

The artist once said, “I’m interested in what would normally be considered the worst aspects of commercial art.” Indeed, that is the stuff that good art is made of.

French Belle Epoque exhibition held in Hong Kong

As part of the ongoing Le French May celebrations, an exhibition titled French Belle Epoque was held in Hong Kong recently, where French masterpieces from the 19^th century were put on display. The La Belle Epoque period, which literally means “a beautiful era”, was a period of peace and culture in France between the Prussian War of 1871 and World War I in 1914.

Renowned collector Sandrine Souchon displayed her private collection of rare 19^th-century decorative masterpieces by famous French maisons. One notable feature is that most of the artefacts are studded with malachite, crystal or lapis lazuli, which seem to have been the favoured gems of the Belle Epoque period.

Souchon has been an avid art collector and aficionado for over three decades. Her collection boasts monumental sculptures, rare furniture and unique artworks from across the world.

The exhibition was visited by art connoisseurs like Diana Zhang, William and Priscilla Chak, Robert and Sally Lo, French designer Zhor Tiber, Hong Kong Cancer Fund founder Peter Matthewson and Le French May organisers Julian-Loic Garin and Andrew Yuen.

Text: Suchetana Mukhopadhyay

Deco-dent Gems

Photo courtesy of Bonhams

Jackie Collins, the late British-American romance author and sister of silver screen starlet Joan Collins, knew a thing or two about style. Dubbed the “queen of the ‘bonkbuster’” for her steamy and sometimes salacious novels, she was famed not only for her page-turning plots, but also for her flashy taste in fashion. Her go-to get-up often comprised leopard-print pieces, chunky jewellery and a blazer.

Photo courtesy of Bonhams

She also had a penchant for all things Art Deco. Many of her vintage 1920s and 30s pieces – artworks and jewellery alike – were sold as part of a Bonhams’ auction on 16 May. Three pieces of Art Deco jewellery, including a bracelet, brooch and necklace, were plucked up for US$161,250 (HK$1.26 million). One of the three pieces, a diamond emerald and platinum necklace, sold for US$56,250 alone. The jagged, geometric pattern of the necklace is softened by a dazzling array of diamonds – 44 carats in total. The brooch, which is French in origin, boasts a Colombian emerald surrounded by round, half-moon, square step and baguette-cut diamonds, and some more square calibré-cut emeralds. After Jackie’s death from breast cancer in 2015, her sister said in a tribute, “Wherever you are, my darling sister, you deserve a red carpet and a throne.” We hope she’s right and imagine that it’s a leopard-print throne, encrusted with jewels.

Hearts a-Flutter: A gown to make sparks fly

Butterflies, dragonflies and diamonds, oh my! This wedding gown is not ideal for the bride with simple tastes or modest means. At US$1.6 million (HK$12.5 million), this creation by bridal designer Reem Acra is considered to be the most expensive wedding dress on the planet. Created in collaboration with Tiffany & Co., the gown’s hefty price tag can partly be chalked up to the butterfly and dragonfly brooches and Tiffany drop earrings adorning the bodice and skirt, which in total boast 165 carats worth of diamonds and 62 carats of gemstones. This fluffy princess gown is classically white, but upon closer inspection, hints of baby blue, pale pink and yellow can also be seen on the butterflies’ shimmering wings. It was just one of the dresses from Acra’s Spring 2018 collection, which was presented at Tiffany’s flagship store on 5th Avenue, New York City.

“Today we celebrate the glamour of a woman, and empowering women. All of this is really inspired by the Tiffany’s woman,” Acra said at the show. “It’s a woman that’s empowered, sexy, powerful, you name it. Who doesn’t want to look like this?” Indeed, most brides want to look like a million bucks on their big day – but shelling out that much on a dress is another story.

Bronze artefact sells for US$37.2 million

During China’s Shang Dynasty, the production of elaborate and beautiful bronze vessels was perfected and elevated to an art form. Unique shapes and detailed motifs characterise these guangs (ritual vessels) used for ancestral worship or special banquets. The allure of these regal receptacles remains stronger than ever. For evidence of their timeless appeal, look no further than from the late Shang Dynasty (13th-11th centuries BC), which sold for US$37.2 million during the auction house’s Asian Art Week. Not only was the price more than four times its pre-auction estimate, but it also set a new auction record for an archaic bronze piece.

The vessel is decorated with taotie (monster masks) – a characteristic design of the period in which a face is split down the centre, creating two profiles. It also features a number of mythical birds and kui dragons, some of which are curiously adorned with elephant trunks or hooked beaks. This fang zun-style vessel was just one of the highlights of Christie’s ‘Important Chinese Art from the Fujita Museum’ auction in New York. Another item, a rare bronze ritual wine vessel in the shape of a ram – also from the late Shang Dynasty – sold for a none-too-shabby US$27.1 million. The elaborately engraved ram is decorated with kui dragons, a taotie mask, crested birds and crouching tigers – a truly majestic sight.

Canny bidder bags small wonders

A set of eight miniature bags made by the French fashion giant Hermès sold for HK$2.5 million at a record-breaking auction at Christie’s Hong Kong. The bespoke collection features miniatures of full-size handbags in the range, notably many of the brand’s most iconic and classic models. The Roulis, Kelly, Toolbox, Farming, Faco, Constace, Bolide and the world-famous Birkin were all represented.

The elegant collection is collectively known as the “Leather Forever Japan Star Bags” and – prior to the auction – were on display at Tokyo’s National Museum for Hermès as part of the Leather Forever exhibition in 2014. Dubbed the “ultimate gift for any bag lover,” each model is created in a 15cm version of the brand’s iconic larger counterparts. Made using the finest skins, each bag is finished in a bold, pop-out hue, including cherry red and candy pink.

The rest of the auction was also a resounding success with the final tally totalling around the HK$41 million mark. Matthew Rubinger, a Christie’s senior vice-president, put it down to the quality of the lots “that appealed to both new buyers and established collectors,” adding that “the strong sell-through rates were generated from active in-room, phone and online bidding, predominantly by Asian buyers.”

Spring Sale: 7 stunning pieces from Sotheby’s auction

Among collectors, Sotheby’s spring auction in Hong Kong is one of the most highly anticipated events of the year. This year was particularly significant because it was the first time Western contemporary art was offered at the evening sale, held at the Hong Kong Convention and Exhibition Centre.

The five-day event raked in a grand total of HK$3.17 billion.

Sotheby’s President and CEO Tad Smith said of the auction’s success: “Outstanding results in our traditional categories of Chinese ceramics and paintings were joined by records across a range of collecting fields including western contemporary art and jewellery, affirming Hong Kong as an anchor of the global art market.”

Here are some of the most remarkable items sold at the spring auction.

Mao by Andy Warhol

Mao is an iconic painting of an iconic leader, rendered by an equally iconic artist in his own right – American pop art pioneer Andy Warhol. It’s little wonder, then, that all eyes were on Mao at the spring auction. A private Asian collector bought the piece for HK$98.5 million, setting a record for any Western contemporary artwork ever sold at auction in Asia. The painting was expected to fetch HK$115 million.

The painting was created in 1973, a year after the historic moment when US President Nixon visited China and Chairman Mao.

Lush Mountains in Misty Gleam by Zhang Daqian

In the Fine Chinese Paintings category, Lush Mountains in Misty Gleam by late Chinese artist Zhang Daqian was the top seller, going for more than HK$31 million. Painted in 1967, the medium is splashed ink and colour on gold paper. The artist’s distinctive splashed-colour style (pocai) can be partly attributed to eye problems he experienced later in his career when his eyesight started deteriorating.

Fancy intense blue diamond ring

Another record setter in its respective category, this fancy intense blue diamond ring was snapped up for HK$37.2 million. The ring, set in white gold, boasts an emerald-cut, 3.13-carat blue diamond flanked by two step-cut diamonds and an oval band encrusted with circular-cut diamonds.

Dry-Lacquer Head of Avalokitesvara, Tang Dynasty

This sculpture of Bodhisattva Avalokitesvara, an important Buddhist figure, went for HK$21.7 million. This extremely rare item was made using a dry-lacquer technique during the High Tang period, likely during the reign of Emperor Xuanzang (712-756). This particular piece is in near-pristine condition.

Explosion 64-1, Shimamoto Shozo

This colourfully chaotic oil on canvas painting by late Japanese artist Shimamoto Shozo sold for HK$20.5 million. The painting was created in 1964 using the artist’s signature ‘bottle crash’ method, in which glass bottles filled with paint are hurled at large canvases. As said best by the artist himself: “Even if my method seems shocking and violent – crushing bottles and shooting cannons at the canvas … I’m just working on creating beauty.”

Xuande Fish Pond lobed bowl

This fine china set a new auction record for early Ming porcelain when it sold for HK$229 million. It’s safe to bet that the buyer probably won’t be using it to serve up fried noodles. The tranquil scene depicts four fish swimming past lotus flowers: a carp, mandarin fish and two kinds of bream, all set in a beautiful cobalt blue.

The Macallan in Lalique – The Legacy Collection

For whisky collectors, The Lalique Legacy Collection is highly coveted. The collection features a set of six crystal decanters filled with The Macallan’s rarest single malts, aged 50 to 65 years old, plus six rare miniature bottles and six pairs of Lalique Macallan glasses. This exclusive, limited edition collection went for HK$7.7 million, setting a record for any lot of whisky ever sold at auction.

Text: Emily Petsko