Hong Kong, 29 March 2026 - Phillips' Evening Sale of Modern & Contemporary Art in Hong Kong soared 30 percent above its pre-sale high estimate, realizing HK$49,482,600 (US$6,318,851) with 98 percent sold by value and 93 percent by lot. The evening was led by a new world auction record for Liu Dan, one of the most influential figures in contemporary Chinese ink painting. Together with the day's Modern & Contemporary Art Sale, the two sales held on 29 March realized a combined HK$88,536,420 (US$11,306,024).
Danielle So, Hong Kong Head of Auctions for Modern & Contemporary Art and the auctioneer who brought down the hammer on Liu Dan's Dictionary, described the result as exceptional, noting that 60 percent of the lots achieved prices above their pre-sale high estimates. She pointed to "the strong demand for our tightly curated selection of works that resonate across generations and geographies," citing the record for Liu Dan, the second-highest auction price achieved for Adam Pendleton, and an ultra-rare work by the Impressionist painter Pierre-Auguste Renoir that realized more than double its pre-sale low estimate.
Rebecca Hu, Head of Sale for Modern & Contemporary Art at Phillips Hong Kong, emphasized the regional strength behind the result, with 80 percent of buyers across both sales coming from Asia. She highlighted celebrated contemporary masters including Yayoi Kusama, Yoshitomo Nara, and Zeng Fanzhi, alongside robust demand for Asian Modern Art, led by a selection of ink on paper works by Sanyu from the Collection of Doris and Gilles Habart, inherited from Michel Habart in France.
The Evening Sale
Liu Dan's Dictionary (2011) provided the evening's defining moment, selling for HK$11,505,000 (US$1,469,189) to establish a new world auction record for the artist, surpassing his previous high of HK$10,030,000 set in 2017. Zhang Xiaogang's Bloodline Series: Father and Daughter (2005) followed at HK$6,708,000 (US$856,612), and Yayoi Kusama's Sunset Afterglow inside My Heart (2020) realized HK$6,450,000 (US$823,665).
Adam Pendleton's Untitled (Days) (2023) achieved HK$5,418,000 (US$691,879), the second-highest auction price recorded for the artist, while Pierre-Auguste Renoir's Paysage aux oliviers (circa 1901) brought HK$4,902,000 (US$625,985), more than double its pre-sale low estimate. Tracey Emin's I See the Mirror (2022) and Nicolas Party's Two Portraits (2016) rounded out the leading lots at HK$4,257,000 (US$543,619) and HK$4,128,000 (US$527,146) respectively.
The Modern & Contemporary Art Sale
The day's Modern & Contemporary Art Sale added HK$39,053,820 (US$4,987,173), selling 88 percent by value and 82 percent by lot, and underscored the breadth of regional demand. Yayoi Kusama's River (1994) led the session at HK$2,193,000 (US$280,046). Chen Yifei's Late Afternoon (Suzhou) (1984), from his internationally acclaimed Water Village series, realized HK$2,064,000 (US$263,573), nearly twice its pre-sale high estimate. That figure was matched by Yoshitomo Nara's Informal autograph (2009), an inscription drawn on a New York East Village bar wall, which also brought HK$2,064,000 (US$263,573).
Evening Sale top lots
| Lot | Artist and work | Estimate | Price achieved |
|---|---|---|---|
| 11 | Liu Dan, Dictionary, 2011 (new auction record) | HK$3,500,000 to HK$4,500,000 | HK$11,505,000 (US$1,469,189) |
| 12 | Zhang Xiaogang, Bloodline Series: Father and Daughter, 2005 | HK$3,500,000 to HK$5,500,000 | HK$6,708,000 (US$856,612) |
| 9 | Yayoi Kusama, Sunset Afterglow inside My Heart, 2020 | HK$5,000,000 to HK$7,000,000 | HK$6,450,000 (US$823,665) |
| 7 | Adam Pendleton, Untitled (Days), 2023 | HK$1,500,000 to HK$2,400,000 | HK$5,418,000 (US$691,879) |
| 10 | Pierre-Auguste Renoir, Paysage aux oliviers, circa 1901 | HK$2,000,000 to HK$3,000,000 | HK$4,902,000 (US$625,985) |
| 6 | Tracey Emin, I See the Mirror, 2022 | HK$3,500,000 to HK$4,500,000 | HK$4,257,000 (US$543,619) |
| 13 | Nicolas Party, Two Portraits, 2016 | HK$2,500,000 to HK$3,500,000 | HK$4,128,000 (US$527,146) |
Modern & Contemporary Art Sale top lots
| Lot | Artist and work | Estimate | Price achieved |
|---|---|---|---|
| 116 | Yayoi Kusama, River, 1994 | HK$1,400,000 to HK$2,500,000 | HK$2,193,000 (US$280,046) |
| 137 | Chen Yifei, Late Afternoon (Suzhou), 1984 | HK$850,000 to HK$1,200,000 | HK$2,064,000 (US$263,573) |
| 183 | Yoshitomo Nara, Informal autograph, 2009 | HK$800,000 to HK$1,200,000 | HK$2,064,000 (US$263,573) |
Estimates do not include the buyer's premium; prices achieved include the hammer price plus buyer's premium. Exchange rate on 29 March 2026: HK$1 = US$0.1277.
Featured Image: Auctioneer Danielle So selling lot 11, Liu Dan's Dictionary.
