Editorial | Auction promotes Hong Kong’s art hub status
The results of a Christie’s sale should be an incentive for the sector to focus on recovery after years of economic malaise
Beauty may be in the eye of the beholder, but a work by a Dutch master captured the attention of the art world last month because its auction did not meet high expectations.
The results at the launch of Christie’s new Asia headquarters in Hong Kong should be an incentive for the sector to focus on recovery after years of economic malaise.
The closely watched inaugural evening sale of 20th and 21st century art took place at Christie’s high-profile expansion at The Henderson in the city’s Central district. The new space allows year-round auctions rather than marquee spring and autumn events.
The top lot was Les canots amarrés (1887) by Vincent van Gogh, owned by Princess Camilla of Bourbon Two Sicilies. It was promoted as a rare sale in Asia of a work by the artist and predicted to fetch HK$230 million (US$29.6 million) to HK$380 million.
The final hammer price of HK$215 million, or HK$250.6 million with fees, may have disappointed some, though art experts called it a good outcome for an early van Gogh. Independent art adviser Alexandre Errera said the market was “definitely readjusting”, but the appetite for art remained strong and Asia was “where most new buyers are coming to the market”.
Christie’s Asia has seen sales decline for two years and the September 26 auction had fewer lots than the company’s May 2024 sale. However, a sizeable crowd turned out for the mix of blue-chip Western names and important artists from Asia.
