Christie’s Inaugural Shanghai Auction Achieves Rmb 154 Million/Usd$25 Million

7/27/2019 Christies Inaugural Shanghai Auction Achieves Rmb 154 Million/Usd$25 Million

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R E S U L T S | S H A N G H A I | S E P T E M B E R 2 6 , 2 0 1 3

CHRISTIES INAUGURAL SHANGHAI AUCTIONACHIEVES RMB 154 MILLION/USD$25 MILLION

Christies first to sell Picasso at auction in mainland China

Records broken for Singaporean art

98% sold by lot, 96% sold by value

Cai Guo-Qiang work Homeland to raise funds for new Museum sells for RMB 15 million

SHANGHAI - Christies has successfully completed its first auction in mainland China. After three days of galaevents, exhibitions, forums and private sales, culminating in the auction, Christies achieved total sales of RMB 154million (USD$25 million), exceeding initial estimates.

Several historic firsts were achieved and records broken, with today marking the first time a Picasso has been sold atauction in mainland China. Illustrating the increasing prominence of Asian art, a new auction record was set forSingaporean artist Cheong Soo Pieng with his workBy The River IIachieving RMB4,110,000 (USD$678,326). This

also marked a record for Singaporean art sold by an international auction house in mainland China. Masriadi sFatmanachieved the highest price ever paid for a similar sized work of the artist at RMB 4,590,000 (USD$757,547)This is also the third highest price ever paid at auction for the artists work. In aid of his charity, the QuanzhouContemporary Art Foundation, Cai Guo-Qiangs workHomelandwas sold for RMB 15 million (USD$2,439,024).

More than two thirds of the buyers at the inaugural auction in Shanghai were based in mainland China with the restcoming from elsewhere in Asia, the US and Europe, reflecting the true global nature of the art market.

It has been a true privilege to be in Shanghai where we have been honoured by the warm welcome. Theresponse to our sale and eventshas been extraordinary, said Steven Murphy, Chief Executive Officer, Christies.Bringing international art, includingPicasso, to mainland China for the first time is the realization of a long held dreamfor Christies. We are delighted to have welcomedseveral thousand members of the public and clients over the course of our three day gala of exhibitions, forums and lectures, all of which

attracted attention from all over the world. Our mission remains to serve our clients with exceptional works of art and to serve artists andall those passionate about art by convening them with our global network. We hope to continue to share the vibrant creativity we haveexperienced in Shanghai with a global audience as we grow our operations in mainland China.

Ourfirst auction in Shanghai has illustrated how much demand and appreciation there is for art across categories. A red ruby necklacachieved the highest sales figure at RMB 18 million (USD$3,405,285) and records were broken for Singaporean art,saidFranois Curiel, President of Christies Asia.We saw bidders participate from all over the world with online andtelephone bidders joining the nearly 1,000 clients in the room tonight. This is an extraordinary start for Christies in mainland Chinaand indicates there will be exciting times ahead for the industry as a whole and art enthusiasts everywhere.


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Christies inaugural auction in Shanghai has been an unforgettable milestone in our 247 year history, said Jinqing CaiManaging Director of Christies China.I am incredibly proud of the results we have achieved in Shanghai and honoured bythe support we have received. I was particularly moved by the success of Cai Guo-Qiangs work created yesterday in a memorable andemotional explosion. We look forward to continuing to build on the positive momentum we have felt this week. Artists, art lovers, art

institutions and those involved in art commerce all joined in hand in hand to make the event a historic success.PRESS CONTACTS:

Luyang Jiang Hildebrandt| Hong Kong| +852 2978 9919|[email protected] Mi| Beijing| +10 8572 7977|[email protected]

Zhongwei Qin| Beijing| +10 8572 7950|[email protected]

IMAGES of Top Lots from Christies Shanghai September 2013 Auction are availablehere.

About ChristiesChristies, the world's leading art business, reached a total of 2.4 billion/$3.68 billion in global auction and private sales in the

first six months of 2013. In 2012, global auction and private sales totaled 3.92 billion/$6.27 billion, marking the highestannual revenue ever reached by Christies. Christies is a name and place that speaks of extraordinary art, unparalleled serviceand expertise, as well as international glamour. Founded in 1766 by James Christie, Christie's has since conducted the greatestand most celebrated auctions through the centuries providing a popular showcase for the unique and the beautiful. Christiesoffers over 450 auctions annually in over 80 categories, including all areas of fine and decorative arts, jewelry, photography,collectibles, wine, and more. Prices range from $200 to over $100 million. Christie's also has a long and successful historyconducting private sales for its clients in all categories, with an emphasis on Post-War and Contemporary, Impressionist andModern, Old Masters and Jewelry. Global private sales totaled 465 million/$711 million in the first half year of 2013, anincrease of 13% from the same period last year, breaking the sales record of half year private sales for Christies and the artmarket for three consecutive years.

Christies has a global presence of 53 offices in 32 countries and 10 salerooms around the world including London, New YorkParis, Geneva, Milan, Amsterdam, Dubai, Zrich, Hong Kong, Shanghai and Mumbai. Christies has recently led in growthmarkets such as Russia, China, India and The United Arab Emirates, with successful sales, exhibitions and initiatives held inBeijing, Mumbai and Dubai.

*Estimates do not include buyers premium. Sales totals are hammer price plus buyers premium and do not reflect costs, financing fees or applicationof buyers or sellers credits.

About Christies Private SalesChristies Private Sales offers collectors access to top works of art from leading collections around the world. Through adedicated Private Sales department, our specialists work one-on-one with consignors and buyers to meet a variety of collectingneedsfrom acquiring a specific work, to buying or selling outside the auction timeline, and more. Christies conducts customsearches for clients to locate key works of art or jewelry they are interested in acquiring when they want to acquirethem. Clients are able to register wish lists with our Private Sales team, and as soon as an appropriate item becomes available

we will notify our client. With our extensive global network of professionals and collectors, our specialists are able to provideprivileged access to rare and unique works of art and negotiate its purchase at the best possible price outside the traditionalauction rooms.

About Christies Online Only SalesSince 2012, Christies has been offering time-based on-line only auctions of fine art, jewelry, fashion, decorative artsphotography, and memorabilia. All property auctioned on-line is treated with the same high-touch dedicated cataloguinginspection, and review as any property offered by Christie's. Many of these online auctions have attracted visitors from over100 countries. The online auctions last up to two weeks with incremental bidding and staggered end times for different lotsPotential winning bidders are shown an estimate of their all-in price that includes buyer's premium, taxes, and shipping costs
mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]://cshk.myftp.org/2013%20Fall%20Christie's%20Hong%20Kong%20Auctions/Shanghai_September/Result/Images/http://cshk.myftp.org/2013%20Fall%20Christie's%20Hong%20Kong%20Auctions/Shanghai_September/Result/Images/http://cshk.myftp.org/2013%20Fall%20Christie's%20Hong%20Kong%20Auctions/Shanghai_September/Result/Images/http://cshk.myftp.org/2013%20Fall%20Christie's%20Hong%20Kong%20Auctions/Shanghai_September/Result/Images/mailto:[email protected]:[email protected]:[email protected]


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Once registered, bidders receive instant updates by email or phone when other bids exceed their own. All payment is by credicard, and bidding registration is open to all clients.

About Christies EducationChristie's Education has an unparalleled reputation for preparing graduates to enter the professional art world. With anemphasis on engagement with original works of art, our unique degree programmes and short courses spanning History of Arthe History of the Art Market, Art-World Practice, and Art, Law & Business incorporate connoisseurship and Art Businessskills into all our programmes. Our courses open doors to rich and varied career opportunities in the arts industries includingauction houses, museums, curatorial roles in public and private collections, galleries, professional services and stateorganizations.

About Christies Art ForumChristies Art Forum was launched in October 2012 in Hong Kong, with the goal to stimulate industry conversation andpromote art appreciation in an interactive setting. Through Christies Art Forum, we open a dialogue between artists,collectors and art market professionals from across the region and around the world about art and collecting. We explore theconcept of East Meets West, the evolution of traditional Chinese forms of expression and where the art market is going,new developments, and emerging trends, cultivating the art world as one continuity.

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Visit Christies Website atwww.christies.comComplete catalogue available online atwww.christies.comor via the Christies iPhone app

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RESULT OF CHRISTIES FIRST AUCTION INMAINLAND CHINA

39 lots sold Total: RMB 153,395,500.00 / US$ 24,942,357.72 98 sold by lot40 lots offered RMB1 = US$6.15 96% sold by value

Lot 1CHATEAU LATOUR FROM THE OUTSTANDING2000 VINTAGE IN MAGNUM & BOTTLE

Chteau LatourVintage 20006 magnumsChteau LatourVintage 200012 bottles

Lot 2CHATEAU LAFITEROTHSCHILD FROM THEEXCEPTIONAL 1982 VINTAGE

Chteau Lafite RothschildVintage 19821 double-magnumChteau Lafite RothschildVintage 198212 bottles

Estimate:RMB220,000300,000US$35,00050,000

Estimate:RMB420,000600,000US$70,00095,000

Price Realized:RMB366,000US$ 59,512

Price Realized:RMB549,000US$89,268

Lot 3CHATEAU MOUTON

Lot 4A LINLEY ARCHITECTURAL WINE BOX IN THE


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ROTHSCHILD FROM THEOUTSTANDING 1989 VINTAGE

Chteau Mouton RothschildVintage 19891 double magnumChteau Mouton RothschildVintage 198912 bottles

FORM OF CHATEAU MARGAUX, INCOLLABORATION WITH THE ANTIQUE WINECOMPANYChteau MargauxVintage 19861 bottleChteau MargauxVintage 19901 bottleChteau MargauxVintage 2009

1 bottle

Estimate:RMB80,000160,000US$13,00030,000

Estimate:RMB380,000580,000US$60,00090,000



Lot 5A CARVED JADEITE LAUGHING BUDDHA

Lot 6A SET OF JADEITE AND DIAMOND JEWELLERY

Estimate:RMB500,000-800,000US$80,000-120,000

Estimate:RMB2,000,000-3,000,000US$324,000-486,000

Price Realized:RMB6,622,500US$1,076,829

Price Realized:RMB4,942,500US$803,658

Lot 7 Lot 8


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A DIAMOND NECKLACE, BY VAN CLEEF &ARPELS

A SAPPHIRE AND DIAMOND RING

Estimate:RMB4,650,000-6,500,000US$780,000-1,100,000

Estimate:RMB7,800,000-12,000,000US$1,300,000-2,000,000

Price Realized:

RMB5,062,500US$823,170

Price Realized:

RMB10,222,500US$1,662,195

Lot 9A RUBY AND DIAMOND 'BUTTERFLY'NECKLACEBY FAIDEE

Lot 10LIU YE (b. 1964)

Angels Housesigned in Chinese; dated 96 (lower left)oil on canvas29 x 22 cm. (11 3/8 x 8 5/8 in.)Painted in 1996

Estimate:

RMB18,000,00028,000,000US$3,000,0004,600,000

Estimate:

RMB900,0001,500,000US$150,000250,000



Lot 11ZHAN WANG (b. 1962)Sitting Girlsigned in Chinese; dated 1990;

**WORLD AUCTION RECORD OF THR ARTIST****RECORD FOR SINGAPOREAN ART SOLD BYAN INTERNATIONAL AUCTION HOUSE INMAINLAND CHINA **


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numbered 1/8 (on the reverse)painted bronze sculpture115 x 54.5 x 130 cm.(45 1/4 x 21 1/2 x 515/8 in.)edition 1/8Executed in 1990

Lot 12CHEONG SOO PIENG (19171983)By The River IIsigned in Chinese; dated 1982 (centre right)oil on canvas102 x 73.5 cm. (40 1/8 x 29 in.)Painted in 1982

Estimate:

RMB2,200,0002,800,000US$360,000460,000

Estimate:

RMB600,000800,000US$97,000130,000


Price Realized:RMB4,102,500US$ 667,073

Lot 13LUO ZHONGLI (b. 1948)Late Return (A Lift at Night)signed in Chinese; signed Luo Zhong Liin Pinyin; dated 1990 (lower left)

oil on canvas97 x 121 cm. (38 1/8 x 47 5/8 in.)Painted in 1994

Lot 14CARTIER. A FINE AND RARE LADYSPLATINUM ASYMMETRICAL WRISTWATCHWITH CUSTOM-MADE DIAL, ORIGINALCERTIFICATE AND BOX

SIGNED CARTIER, MADE IN FRANCE, CRASHMODEL, CASE NO. 121883 AF 2573, CIRCA 2002

Estimate:RMB2,500,0004,500,000US$405,000729,000

Estimate:RMB190,000320,000US$30,00050,000




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Lot 15CORUM. AN IMPRESSIVE AND VERY RARE 18KWHITE GOLD AND DIAMOND-SET SQUARECHRONOGRAPH BRACELET WATCH

SIGNED CORUM, CASE NO. 822660, CIRCA 1995

Lot 16PATEK PHILIPPE. A RARE, UNIQUE ANDIMPORTANT 18K WHITE GOLD AUTOMATICPERPETUAL CALENDAR WRISTWATCH WITHSWEEP CENTRE SECONDS, RETROGRADEDATE, MOON PHASES, LEAP YEARINDICATION, ORIGINAL CERTIFICATE,PORTFOLIO PHOTOGRAPHS AND WINDING

BOX

SIGNED PATEK PHILIPPE, GENEVE, REF. 5159,MOVEMENT NO. 3720799, CASE NO. 4455909,CIRCA 2009

Estimate:RMB400,000620,000US$65,000100,000

Estimate:RMB620,000950,000US$100,000150,000

Price Realized:RMB500,000

US$81,300

Price Realized:RMB1,582,500

US$257,317

Lot 17PATEK PHILIPPE. AN EXCEPTIONAL ANDUNIQUE 18K PINK GOLD WRISTWATCH WITHSWEEP CENTRE SECONDS AND CLOISONNENAMEL DIAL, THELIGHTHOUSE

SIGNED PATEK PHILIPPE, GENEVE, REF. 2481,MOVEMENT NO. 704954, CASE NO. 689399,MANUFACTURED IN 1955

Lot 18ANDY WARHOL (19281987)Diamond Dust Shoessigned and dated Andy Warhol 1981(on the overlap)synthetic polymer and silkscreen inks

with diamond dust on canvas50 x 41 7/8 in. (127 x 106.3 cm.)Painted in 19801981.

Estimate:RMB1,600,0002,500,000US$250,000400,000

Estimate:RMB3,800,0005,000,000US$600,000800,000


Price Realized:RMB 4,822,500US$784,146


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Lot 19A MODEL FOR THE UKPAVILION SHANGHAI EXPO 2010Thomas Heatherwick, 2013abs plastic, brass rod, aluminium, acrylic,birch, plywood and lime veneer13 x 51 x 42 in. (33 x 129.5 x 106.7 cm.)Edition 1 of 3

Lot 20ALEXANDER CALDER (18981976)Black: 2-2-6signed with initials and dated CA 65 (on the largestelement)hanging mobilepainted sheet metal and wire38 x 48 x 20 in. (96.5 x 121.9 x 50.8 cm.)Executed in 1965. This work is registered in the Archives ofthe Calder Foundation, New York, under applicationnumber A07301.

Estinmate:RMB700,0001,000,000US$120,000170,000

Estinmate:RMB6,200,0009,500,000US$1,000,0001,500,000



Lot 21PATEK PHILIPPE. AN EXCEPTIONALLY FINE

ANDUNIQUE 18K GOLD OPENFACE KEYLESS LEVERWATCH WITH ENAMEL MINIATURE OF ABOUQUET OF FLOWERS BY SUZANNE ROHR,WITH ORIGINAL CERTIFICATE, BROCHUREAND BOX

SIGNED PATEK PHILIPPE, GENEVE, REF. 715/21,MOVEMENT NO. 893286, CASE NO. 432835,MANUFACTURED IN 1968

Lot 23PATEK PHILIPPE. AN EXCEPTIONALLY FINE

AND UNIQUE 18K GOLD OPENFACE KEYLESSLEVER WATCH WITH ENAMEL MINIATUREPORTRAIT OF HECTOR BERLIOZ BY SUZANNEROHR AFTER ED. WINKLER, WITH ORIGINALCERTIFICATE AND BOX

SIGNED PATEK PHILIPPE, GENEVE, REF. 866/77,MOVEMENT NO. 932607, CASE NO. 433691,MANUFACTURED IN 1976


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Estimate:RMB620,000950,000US$100,000150,000

Estimate:RMB500,000750,000

US$80,000120,000


Price Realized:RMB1,222,500US$ 198,780

Lot 26

ZENG FANZHI (b. 1964)Bicyclesigned Zeng Fanzhi in Pinyin; signed inChinese; dated 2005 (lower right)oil on canvas200 x 200 cm. (78 3/4 x 78 3/4 in.)Painted in 2005

Lot 27

SUI JIANGUO (b. 1956)Clothes Veins Study Seriesseven plaster sculptures and seven bronze sculpturesplaster: The Rebellious Slave; The Dying Slave; The DyingSlave (Education Version); Human Anatomy (DetachedColumn); Human Anatomy (Lunge Stretch); Doryphorus; &Diskobolosbronze: The Rebellious Slave; The Dying Slave; The DyingSlave (Education Version); Human Anatomy (DetachedColumn); Human Anatomy (Lunge Stretch); Doryph &Diskobolossigned AP Sui Jianguo in Pinyin (on the reverse) plaster:

AP (unique); bronze: AP (edition of 6 & 1 AP)Executed in 1998

Estimate:RMB5,800,0008,800,000US$950,0001,500,000

Estimate:RMB10,000,000-15,000,000US$1,650,0002,500,000


Price Realized:RMB 11,982,500US$1,948,373

Lot 28YE YONGQING (b. 1958)

Lot 29MAO XUHUI (b. 1956)


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Lot 32ZHAN WANG (b. 1962)Artificial Rock Series: No. 150stainless steel sculpture90 x 75 x 234 cm.(35 x 29 x 92 1/8 in.)edition 1/4Executed in 2009

Lot 33LIU WEI (b. 1965)Orchidssigned Liu Wei in Pinyin; signed in Chinese;dated 2006 (lower centre)oil on canvas80 x 243.5 cm. (31 x 95 78 in.)Painted in 2006

Estinmate:RMB1,600,0002,600,000

US$260,000450,000

Estimate:RMB2,200,0004,000,000US$360,000650,000



Lot 34

LIU WEI (b. 1972)Purple Air ZJ30033401signed Liu Wei in Pinyin; signed in Chinese;dated 2009 (lower right)oil on canvas180 x 440 cm. (70 78 x 173 in.)Painted in 2009

Lot 35

WANG GUANGLE (CHINESE, B. 1976)Afternoon No. 8signed & titled in Chinese; dated 2003 (lower left)oil on canvas180 x 160 cm. (70 7/8 x 63 in.)Painted in 2003

Estimate:RMB700,0001,500,000US$115,000250,000

Estimate:RMB500,000800,000US$80,000120,000


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Lot 36PATEK PHILIPPE. A VERY RARE 18K PINK GOLDPERPETUAL CALENDAR SPLIT SECONDS

CHRONOGRAPH WRISTWATCH WITH MOONPHASES, 24 HOUR AND LEAP YEARINDICATION AND UNUSUAL RUBY-SET DIAL,WITH ORIGINAL CERTIFICATE ANDADDITIONAL CASE BACK

SIGNED PATEK PHILIPPE, GENEVE, REF. 5004,MOVEMENT NO. 879674, CASE NO.4007834,CIRCA 2007

Lot 37PATEK PHILIPPE. A VERY FINE, RARE ANDIMPORTANT 18K PINK GOLD AUTOMATIC

MINUTE REPEATING PERPETUAL CALENDARWRISTWATCH WITH MOON PHASES ANDUNUSUAL RUBY-SET DIAL, ADDITIONAL CASEBACK AND SERVICE REPORT CONFIRMINGMANUFACTURE OF THE DIAL

SIGNED PATEK PHILIPPE, GENEVE, REF. 3974,MOVEMENT NO. 1906078, CASE NO. 2867102,CIRCA 1990

Estimate:RMB2,200,0003,400,000

US$350,000550,000

Estimate:RMB2,800,0004,200,000

US$450,000650,000



Lot 38PATEK PHILIPPE. AN EXCEPTIONAL, VERYRARE AND POSSIBLY UNIQUE 18K PINK GOLDMINUTE REPEATING TOURBILLONWRISTWATCH WITH RARE RUBY-SET DIAL,

Lot 39PATEK PHILIPPE. AN EXTREMELY RARE,HIGHLY IMPORTANT AND POSSIBLY UNIQUE18K PINK GOLD PERPETUAL CALENDAR,MINUTE REPEATING TOURBILLON


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ORIGINAL CERTIFICATE, ADDITIONAL CASEBACK AND PORTFOLIO PHOTOGRAPHS

SIGNED PATEK PHILIPPE, REF. 3939, MOVEMENTNO. 1903107, CASE NO. 4357306, CIRCA 2008

WRISTWATCH WITH RETROGRADE DATE,MOON PHASES, LEAP YEAR INDICATION ANDRUBY-SET DIAL, WITH ORIGINALCERTIFICATE, ADDITIONAL CASE BACK ANDPORTFOLIO PHOTOGRAPHS

SIGNED PATEK PHILIPPE, GENEVE, REF. 5016,MOVEMENT NO. 1905077, CASE NO. 4188365,

CIRCA 2003

Estimate:RMB2,500,0003,800,000US$400,000600,000

Estimate:RMB3,200,0005,000,000US$500,000800,000



Lot 40SHAO FAN (b. 1964)Work No. 1engraved in Chinese

edition 2/5acrylic glass, elm wood sculpture90 x 89 x 171 cm. (35 3/8 x 35 x 67 in.)Executed in 2006

Lot 41QIU DESHU (b. 1948)Crack: Red Rock and Snow Peaksigned in Chinese (lower centre)

a set of three acrylic on rice paper and canvaseach: 238 x 100 cm. (94 3/4 x 39 3/8 in.)Overall: 238 x 300cm (94 x 118 1/8)Painted in 2011

Estimate:RMB300,000400,000US$50,00065,000

Estimate:

RMB500,000800,000

US$80,000120,000




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**THE FIRST TIME A PICASSO HAS BEEN SOLD AT AUCTION IN MAINLAND CHINA**Lot 42

PABLO PICASSO (18811973)Homme assis

signed and dated Picasso 21.4.69.(upper right)

oil on panel laid down on cradled panel22 1/4 x 11 1/4 in. (56.6 x 28.7 cm.)

Painted in 1969

Estimate:RMB4,500,000-6,200,000

US$700,000-1,000,000


CHARITY AUCTION

CAI GUO-QIANG (CHINESE, B. 1957)Homeland

Homelandwas created during a live show whereby gunpowder was ignited to create the drawing on paper, mounted on an 8panel wood screen measuring 242x744cm. Auction proceedings of the work will benefit the Quanzhou Museum ofContemporary Art Foundation and, more specifically towards the soon to be opened Quanzhou Museum of Contemporary

Art (QMoCA).


*Estimates do not include buyers premium. Sales totals are hammer price plus buyers premium and do not reflect costs, financing fees or applicationof buyers or sellers credits.

Images ofChristies First Auction in Mainland China are availablehere
http://cshk.myftp.org/2013%20Fall%20Christie's%20Hong%20Kong%20Auctions/Shanghai_September/Result/Images/http://cshk.myftp.org/2013%20Fall%20Christie's%20Hong%20Kong%20Auctions/Shanghai_September/Result/Images/http://cshk.myftp.org/2013%20Fall%20Christie's%20Hong%20Kong%20Auctions/Shanghai_September/Result/Images/http://cshk.myftp.org/2013%20Fall%20Christie's%20Hong%20Kong%20Auctions/Shanghai_September/Result/Images/


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our Terms & Conditions of use. Use and reproduction of the images may also involve additional copyright which you willneed to clear directly with the relevant copyright holder.

PRESS CONTACTS:Luyang Jiang Hildebrandt| Hong Kong| +852 2978 9919|[email protected]

Meng Mi| Beijing| +10 8572 7977|[email protected] Qin| Beijing| +10 8572 7950|[email protected]
mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]

Christie’s Inaugural Shanghai Auction Achieves Rmb 154 Million/Usd$25 Million

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