Christie’s Asian Art Sales Fetch $98 Million

Christie’s sales of 20th-century and contemporary Asian art in Hong Kong Saturday evening and Sunday afternoon took in more than 761 million Hong Kong dollars (US$98 million). The Saturday take was HK$484 million, double the presale estimate—making it the auction house’s biggest-ever sale in the category. The top lot: Zao Wou-Ki’s “2.11.59,” which sold for HK$41 million Saturday. Just 7% of lots went unsold, compared with 16% at last November’s evening sale of 20th-century and contemporary Asian art, which brought in a total of HK$281 million.

The top lot among Sunday’s contemporary art was Zeng Fanzhi’s “Andy Warhol,” which fetched HK$9.6 million. Among the 20th-century art, it was Mr. Zao’s “5.6.63,” which sold for HK$1.9 million. In all, five lots at the sales sold for more than HK$30 million, and an additional 17 lots for more than HK$10 million. Eighteen world auction records were set, including for works by Japan’s Zenzaburo Kojima and China’s Pang Jiun.

The sale of Mr. Zeng’s “The Leopard,” the final lot Saturday, was perhaps the most animated moment of the weekend. More than 10 bidders raised their hands at the opening offer of HK$4 million, prompting a bidding war. Chinese entrepreneur Zhao Zhijun finally won it, to the applause of the audience, for HK$36 million. Proceeds from the sale of “The Leopard” went to the nonprofit environmental organization The Nature Conservancy. Mr. Zhao said he will display the work at his private museum in Beijing.

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