Market dispatch·Hong Kong
Hong Kong autumn auctions reach $255 million across Christie's, Sotheby's and Phillips
Hong Kong's fall auction season closed with about $255 million in sales across the three major houses, up sharply from roughly $165 million in the spring. Christie's and Sotheby's each took in nearly $122 million, led by a Basquiat at $9.8 million and a Yoshitomo Nara at $9.3 million; Sotheby's London also set a 30-year record for South Asian art.

Hong Kong's autumn auction season closed with roughly $255 million in sales across the three major houses, a marked rebound from about $165 million in the spring. Christie's 20th- and 21st-century sales in the city totaled HK$956.5 million ($121.9 million), up 17 percent year over year, led by Jean-Michel Basquiat's Ancient Scientist (1984), which brought HK$77 million ($9.8 million) in a white-glove evening sale. Sotheby's Hong Kong autumn sales were close behind at HK$956 million ($121.8 million), with 91 percent of lots finding buyers. Yoshitomo Nara's Present (1994) topped the house's four combined sales at HK$71.1 million ($9.3 million). Phillips contributed HK$94.5 million ($12 million), led by Gerhard Richter's 1983 Abstraktes Bild (522-1) at HK$23 million ($2.93 million); its modern and contemporary evening sale was 87.5 percent sold. The results suggest renewed momentum in Asia after a bruising downturn. South Asian art continued its ascent at Sotheby's in London, where the modern and contemporary South Asian sale reached £19.8 million ($26.2 million) — the department's strongest result in more than three decades — with a 99 percent sell-through rate. Sayed Haider Raza's Paysage Rouge (1960) led the sale at £3.75 million ($4.97 million), ten times its high estimate. The week also brought a flurry of industry moves. The Independent fair company is now under Informa's ownership, with cofounder Elizabeth Dee staying at the helm; New York's Salon 94 will open a permanent Paris space on October 18; and Ann Temkin is stepping down as the Museum of Modern Art's chief curator of painting and sculpture to take an advisory role overseeing the museum's 2029 centenary. On the legal front, Chicago's Kavi Gupta gallery faces a temporary restraining order over roughly 150 disputed works, while the 2026 MacArthur Fellows include artists Christine Sun Kim, Rodney McMillian, Chip Thomas and Vincent Valdez.


