Records achieved in this auction:

Reed LEE “Homesickness”, estimate: HK$1,300,000 - 2,000,000, realized HK$1,440,000/US$185,806

Highest auction price achieved for the artist

HAN Young Wook “Face”, estimate: HK$600,000 - 900,000, realized HK$720,000/US$92,903

Breaking artist’s auction record

LO Chan-peng “The Beauty Ode 5”, estimate: HK$160,000 - 240,000, realized HK$288,000/US$37,161

Breaking artist’s auction record

The much anticipated Ravenel Spring Auction 2015 Hong Kong: Modern and Contemporary Art Sale took place on May 31 (Sunday) evening at Hong Kong’s Grand Hyatt Hotel. A diverse selection of timeless pieces attracted fierce bidding competition amongst connoisseurs. Prospects for Liu Kuo-sung’s works were good leading up to the auction and all four works were sold. Several spectacular works received many inquires before the auction and caused a bidding frenzy at the auction venue, where these pieces were ultimately sold for over the pre-sale estimates. Guan Liang’s “Chinese Opera Fingers” fetched HK$372,000/US$48,000, triple the pre-auction estimates after 16 extensive bids. Pang Xunqin’s “Apsarasa” performed marvelously as expected and was ultimately sold for HK$768,000/US$99,097.

Among the many extraordinary artworks offered this season include the focus of the auction, featuring Luo Zhongli’s “Crossing the River Series”, executed in 2007. This bold and powerful work of extravagance carries an air of Humanism as it captivates a frozen moment of a natural scenic that remains organic in essence, ultimately sold for HK$6,600,000/US$851,613. Another rare works of Luo’s “Peasant Life” from the 1980s was sold for HK$1,920,000/US$247,742. Exquisite works of Zhou Chun-ya’s “Red Stone of Ya’an was sold for HK$4,320,000/US$557,419 and “Green dog” was ultimately sold for HK$1,800,000/US$232,258. The other exquisite highlight lots this season include another work of Cai Guo-qiang’s “Nice-Church” that parallels to the artist’s symbolist tradition as the silhouette of the Cathedral appears and disappears from the resulting reaction of the scorches, burn marks and gunpowder residue, this impressive work fetched a dazzling result of HK$5,520,000/US$712,258.  

Reed Lee’s “Homesickness” is in essence a work of balance between sentiment and rationality, as his dots also became more refined and fused with the colors of the composition, this spectacular work was sold for HK$1,440,000/US$185,805, which constitutes a remarkable record of the artist. The Western category performed impressively as Maurice de Vlaminck’s “Nature morte aux fruits et à la baguette de pain”, painted circa 1950s, represents a masterful consolidation of form that is both enticing and anchoring, was eventually sold for HK$840,000/US$108,387. Moïse Kisling’s “Zoucha et Louis Tas” performed equally well and was sold for HK$1,680,000/US$216,774.

Odile Chen, Head of the Art Department and Chief Specialist of Hong Kong, remarked that “Ravenel’s Spring Modern and Contemporary Art Sale 2015 encompass a distinctive selection of artworks defined by a clear curatorial vision. The results were a resounding success and we are greatly appreciative of the interest and support we received.”