The Facts
Phillips' Modern & Contemporary Art sales in Hong Kong on September 30, 2026, achieved a combined total of HK$94,472,130 (US$12,045,197). The Evening Sale reached HK$52,654,200 (US$6,713,411) with 96% sold by value and 94% by lot, while the Modern & Contemporary Art Sale totaled HK$41,817,930 (US$5,331,786) with 80% sold by value and 79% by lot. Gerhard Richter's "Abstraktes Bild (522-1)" led the Evening Sale at over HK$23 million (US$2.9 million). Zao Wou-Ki's "Sans titre (La Théière)" sold for over HK$11 million (US$1.4 million). Marc Chagall's "Bouquet sur fond orange" achieved HK$3.6 million (US$460,530), more than doubling its pre-sale estimate. A group of ceramics by Pablo Picasso achieved a 100% sell-through rate, significantly surpassing estimates. Works by Chinese video art pioneer Zhang Peili, including "Yellow, Blue and Red" from his Bodybuilding series and the ten-channel video installation "Just for You," both attracted significant interest and delivered strong results.
The Signal
The strong performance of Zhang Peili's works signals growing institutional and collector recognition of Chinese video art's historical importance, particularly works with Venice Biennale provenance. The 100% sell-through rate for Picasso ceramics and the doubling of Chagall's estimate underscore sustained demand for blue-chip Western masters in Asia. Robust results for Japanese artists Yayoi Kusama, Ayako Rokkaku, Atsushi Kaga, and Izumi Kato reinforce the market's appetite for Japanese contemporary art, ahead of Phillips' upcoming cross-category auction "KYŌBAI: The Japan Edit" in December 2026.
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- Artists: Zhang Peili, Gerhard Richter, Pablo Picasso, Marc Chagall, Atsushi Kaga, Lauren Quin, Zao Wou-Ki, Yayoi Kusama, Ayako Rokkaku, Izumi Kato
- People: Henry Highley, Dina Zhang, Rebecca Hu
- Auction Houses: Phillips
- Locations: Hong Kong
- Prices: HK$94,472,130, US$12,045,197, HK$52,654,200, US$6,713,411, HK$41,817,930, US$5,331,786, HK$23 million, US$2.9 million, HK$11 million, US$1.4 million, HK$3.6 million, US$460,530
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