On November 23rd 2014, Ravenel Hong Kong closed the Ravenel Autumn Auction 2014 Modern and Contemporary Art with high success. The total auctioned value achieved approx. USD 2.3 million. On this night, the grand lobby of Hong Kong Grand Hyatt was packed with art collectors and enthusiasts. Buyers bid by phone, on-site and online, competiting intensively for their favorite artworks. The Autumn Auction closed with a sales rate of 115.27% by value and 71.43% by lot.

 

 

Zhou Chunya's "Blue Lotus", one of the rare works of this artist painted in the early 1990's, was sold at HKD 3.84 million (approx. USD 500,000) after intensive competition. "Summer Shadows", one of Lalan's (Xie Jinglan) signature works painted in the 1950's, depicting the rythms of music and the interplaying wonders of light and shadow, was sold at HKD 1.80 million (approx. USD 232,000). "Abstract" by George Chann attracted tremendous attention during the preview time. Buyers placed bids on-site and over the phone, competing heatedly with determination to win. The bid started from HKD 700,000, and after 12 bids, the hammer went down at HKD 1.5 million. Plus commission, this work was sold at the final price of HKD 1.8 million (approx. USD 232,000), which was twice of the starting bid (this artwork was appraised at the range from HKD 700,000 to 950,000, approx. USD 90,000 to 120,000). Chann's abstract paintings are highly characteristic of his unique style and deemed deserving of such high bids. Seven oil paintings of Chiu Ya-Tsai were listed for this auction and, with the support of enthusiastic collectors, all seven pieces were successfully sold near or higher than the highest estimated prices. A series of modern Chinese ink paintings were also featured in this auction and received heated responses. Tai Xiangzhou's "Celestial" was sold at HKD 576,000 (approx. USD 74,000) after several rounds of bidding on-site and through the phone.

 

 

"We are very glad to see such success, especially when the auction market is extremely competitive today. We launched 91 artworks for auction today and achieved as high as 115.27% in auction value. Many of the works were sold for two to three times of the appraised prices. And the Modern Chinese Ink Paintings lauched as a new category this year have also attracted many new buyers to come to our auction. Innovativeness has been a constant pursuit of Ravenel International Art Group," said Vivi He, Head of Business Development Department of Ravenel Hong Kong.

 

 

Ravenel Hong Kong 2014 Autumn Auction
Modern and Contemporary Art
Top 5 Lots