Comprehensive reporting of Hatamachi
On the evening of June 18th, the contemporary art evening auction "Jay Chou x Sotheby's", curated by musician and art collector Jay Chou, achieved a turnover of HK$846 million and became a "White Glove" special. Among them, Jean Michay Baschia's 1985 "Untitled" sold for HK$289 million, becoming the second highest price of Western art in Asia. Picasso's later work, "Man Bust", sold for HK$108.9 million, ranking second in the competition.
Some analysts believe that through working with celebrities, Sotheby's has successfully reached more Chinese millennials and conveyed to them the idea that collecting art is a fashion. However, the judgment of veteran collectors on the works does not seem to waver, and the number of millennial collectors who can afford to consume the top art is limited after all, so it is reflected in the auction performance, that is, most of the high-priced lots of the night performed mediocrely, but the works with lower valuation performed better.
In April this year, Sotheby's announced that it would jointly launch a contemporary art auction with Jay Chou, which is the second time that Sotheby's has cooperated with the entertainment industry after joining forces with Korean idol T.O.P in 2016. In addition to being a singer and a youth memory of "post-80s and post-90s", Jay Chou's other identity is also a collector and art lover. He often goes to various exhibitions and fairs, and often posts his art collection and works of interest on social networks. Jay Chou said: "My dream is to gather the two worlds of art and entertainment, so that more people can understand and appreciate art in different ways. ”
The highest-grossing lot in the "Jay Chou x Sotheby's" special sale was Jean Mitchell Basquiat's 1985 untitled, which sold for HK$289 million, making it the second highest price of Western art in Asia.
Jean Mitchell Baschia, Untitled, 1985
Untitled is a triptych of wooden planks that juxtapose three elements, including Baschia's iconic black warrior, which borrows from the visual vocabulary of African masks; the jaguar, who in Aztec legend is the embodiment of Xiao Yong; and a figure resembling the knight Don Quixote. In this way, Basia contrasts the primitive ferocity of African and Central American visual culture with the pompousness of European chivalry and tradition.
Baschia's "Untitled" received a third-party guarantee before the auction, without the risk of streaming, from HK$210 million, gradually rose to HK$250 million in the telephone commission of 3 Asian buyers and 1 New York buyer, but after nearly 5 minutes of no one to answer, and finally "Untitled" fell below the appraisal hammer of 250 million, with a commission of HK$289 million. Although it has not surpassed another of Basichia's "Warriors", which sold for HK$320 million three months ago, the appreciation capacity of "Untitled" is still considerable. Sold in London for £1,016,000 in 2005, the price soared 26.8 times in 16 years and witnessed the rapid rise of the Baschia market.
Baschia died in 1988, at the age of 28. In the view of art critic and columnist Ju Baiyu, "Good works are not just as simple as creating wealth myths, but what kind of power images bring to us." The themes of Basicia's life can be summarized as: king, heroism, the street, and the black figures in his images are saints, prophets, ghosts, and the spirit of the times, so we have to look at what is behind the price of art. He did not participate in market myths when he was alive, in other words, although he was successful in his lifetime, the price soared for more than thirty years after his death. ”
In addition to Baschia, the auction brought in works by Pablo Picasso, Richard Prince, Frank Stella, Andy Warhol and many other Western "blue chip" artists. Picasso's later work "Male Bust" also performed well, selling for HK$108.9 million, ranking second in the competition.
Picasso's later work "Bust of a Man"
Jay Chou's other favorite, Gerhard Richter's works, was also brought to the auction, and the "Abstract Painting" in the auction was one of Richter's early attempts at abstraction, but it already had all the elements of its later abstraction. The color layers are bright and rich, looking like a kaleidoscope, and you can feel the rhythm and heartbeat. The pleasing work sold for HK$23.165 million, a highly competitive auction that night.
Gerhard Richter's Abstract Painting
In addition, last night's auction also showed the market's interest in young international art stars and Asian artists. Nine new auction records came from Richard Prince's The Escaped Nurse, which sold for HK$94 million, as well as works by Roy Hollowell, Peter McDonald, Jamian Giuliano Villani, Yukimasa Ida, Natty Utari, Frank Stella (new Asian record), Gil Mulidi (first auction) and a'strict (first auction).
Richard Prince, The Escaped Nurse
Among them, Jamian Giuliano Villani's "Heat Wave" sold for HK$3.15 million, ten times the estimated price; Roy Hollowell's "Connected Linga (Yellow, Green, Blue, Purple, Pink)" sold for HK$16.51 million, which is more than five times the estimated price; a'strict debut "Waterfall - Quicksand" was sold for HK$945,000. Yukimasaki Ida's "King of Rock and Roll," created specifically for the auction, sold for HK$2.772 million after more than 20 bids.
Jamian Giuliano Villani, "Heat Wave"
For Chinese contemporary artists, "Memories of Beiliucao Island" sold for HK$8.645 million, the highest price.
Jay Chou donated six sets of concert costumes to support charity were all sold. Jay Chou also said: "I am very happy to be able to raise HK$2.6 million by auctioning the costumes at my concert as a donation to support the Wish Come True International Foundation to help children in need. I hope that this donation will help realize the aspirations of sick children, but also bring them strength and hope. ”
According to relevant reports, Jay Chou is engaged in art collecting, and has been promoted to a collector in recent years, and the biggest influence on him is the enlightenment of his mother Ye Huimei and his friend Cai Kangyong. Some analysts pointed out that through working with celebrities, Sotheby's has successfully reached more Chinese millennials and conveyed to them the idea that collecting art is a fashion. The high turnover rate proves that this market strategy works, but the judgment of veteran collectors on the works does not seem to waver, and the millennial collectors who can afford to consume the top art are limited after all, so it is reflected in the auction performance, that is, most of the high-priced lots of the night performed flat and were far from expectations, but the works with lower valuation performed better.
(Some of the sources in this article: Sotheby's official website, Artron Art Auctions, etc.)
Editor-in-Charge: Lu Sijia
Proofreader: Luan Meng