Phillips and Poly Auction join forces in contemporary art auction in Hong Kong and Beijing

Gerhard Richter’s Abstraktes Bild (940-7) could fetch up to HK $ 95 million.

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Phillips and Poly Auction have teamed up to present their major spring auctions in a new duo format.

The twentieth-century and contemporary art and design sales of the two houses will be held simultaneously in Hong Kong and Beijing from June 7-8. Phillips’ auctioneers will chair sales at its Hong Kong galleries, with a live stream relayed from Poly’s Beijing auction room. The auctioneer will be able to accept bids from people on both sites, by phone or online.

The two auction houses collaborated in their first joint sales in Hong Kong last December, reaching a total of HK $ 508 million (US $ 66 million) and setting several auction records for Western artists and Asian.

“This season’s all-new dual-location sales format will further bring together the resources of the two houses in mainland China and international markets in an unprecedented way, reaching the full breadth of the combined seller and buyer bases of Phillips and Poly, ”Edward Dolman, Phillips CEO and Jonathan Crockett, president of Phillips Asia, said in a joint statement.

Adopting live streaming technology, other major auction houses have conducted sales simultaneously in different locations, or as relays, to reach a global audience. “As our rapid expansion in Asia continues at a steady pace, we are delighted to take another step forward with this revolutionary auction concept,” said Dolman and Crockett.

Zhang Xiaogang Family Portrait No. 13

Courtesy of Phillips and Poly Auction

The evening sale of June 8 will be marked by Gerhard Richter
Bild abstract (940-7), 2015, and that of Zhang Xiaogang Family portrait n ° 13, 1998.

Richter’s painting is one of his best-known abstract series featuring rich tones of primary colors of red and yellow, and is the largest oil on canvas by the 89-year-old German artist after 2000 to be released. auction, according to the two houses.

Offered for the first time at auction, it is estimated for pre-sale between HK $ 75 million and HK $ 95 million ($ 9.65 and $ 12.2 million).

Zhang’s Family portrait n ° 13 is of his seminal series, Lineage — Family portraits, which are mainly monochrome stylized portraits of Chinese. This is among the very few that were executed on square canvas by the 63-year-old Chinese Symbolist and Surrealist painter. The painting is expected to fetch between HK $ 7.5 million and 9.5 million in its first auction.

Other masterpieces offered for sale will be announced in the coming weeks, the auction houses said.

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