TRENDING NOW
In politically and economically turbulent times, the major auction houses stayed afloat by offering important modern works—which have consistently made top dollar in the last five years—and were buoyed by big-name contemporary figures who appeal to younger collectors. Many outstanding sales still took place in Hong Kong, a convenient stop for ultra-high-networth buyers in Asia, in spite of citywide protests in the second half of 2019.
Sino-Franco Synergy
New York’s Solomon R. Guggenheim Museum renewed debate over the practice of deaccessioning when it announced in February that it would put Zao Wou-ki’s monumental (1958) abstraction on the auction block in order to raise funds for new acquisitions. At Sotheby’s Hong Kong’s Modern Art Evening Sale in March, collectors eager for the (1959), from the same “Oracle Bone” period, surpassed a USD 12.7 million high estimate to fetch USD 13.3 million.
