Chinese buyers a strong presence at Christie’s day sale

Strong interest came from Chinese buyers at Christie’s Post-War and Contemporary art day auction in London on July 1.

The top lot was Robert Longo’s Untitled (Last Tiger), which achieved a figure of £650,000 (estimate £300,000-400,0000). Of the 206 lots offered, 77% sold by lot and 85% sold by value.

Rosanna Widen and Leonie Grainger, co-heads of the day auction, said: “This July auction proved Christie’s ability to offer the highest quality at all levels of the market.  We saw a strong response from Chinese buyers and, in a correlating trend, an outstanding performance for selected works by Chinese artists, with a particular highlight being Chu Teh-Chun’s Composition Untitled, which achieved over three times its low estimate.

“It was also gratifying to see the strong response to the two renowned private collections offered as part of the day auction: the Hubert Peeters collection and the Lord and Lady Jacobs collection.  The Jacobs collection continued its success from the night before, with Dubuffet’s Portrait d’Homme II proving to be a major draw.  The day sale has once again affirmed itself as an accessible platform for both experienced collectors and the ever-growing new audiences for contemporary art.”

Picture credit: briYYZ/Creative Commons license.