Total Hammer Price exceeding 100 Million HK Dollars
First Auction Results
Tatal Hammer Price exceeding 100 Million HK Dollars
Two sessions combined have achieved a turnover of 116 million HK dollars (including premium). With more than 200 lots sold, the turnover rate reached 83%.
JointWells (HK) has successfully concluded its first auction, 2019 Autumn Auction, on October 5th 2019 at Renaissance Hong Kong Harbour View Hotel.
Mr. Peifeng Zhu, the Chairman of JointWells (HK), has summarized the result:
“In this golden autumn, lot of auctions have been going on in Hong Kong. JointWells (HK) chose this period to enter the play is because we are well-prepared, also we have tremendous dedication and love for art as well as confidence in future market.
For our first auction, we presented two sessions Inheritance – Important Chinese Art from the Ever Concord II and Panorama – Hidden Treasures and Fine Antiques. From 3rd to 5th October, after three days of preview, the auction was a great success. The total turnover reached 116 million HK dollars. Although this number was more or less expected, but the process was full of surprises.
Since the establishment of JointWells (HK), every task has been carried out step by step. The company focuses on every aspect of the auction, from artwork and antique collection, storage management, catalogue editing; we also pay great attention to the source and inheritance aspects of the objects we put on auction. We care and put a lot of efforts to communicate with the buyers during the collecting process, so this turnover is in line with expectations. During the preview and auction period, the company is steadily advancing on the transportation, curating and exhibition, auction process, ensuring that everything is in place flawlessly.
Mentioning surprises, I would like to express my gratitude to collectors coming from all over the world to participate in this auction. Recently due to a series of events, it is not an easy decision to make to travel to Hong Kong, yet they showed up with such passion to participate and share this great moment together with us. This has really touched me, and it gave me great consolation and motivation, In the future, we will strive to expand and perfectionate our operation networks and coverage, and we look forward to meeting everyone again next May.”
Inheritance – Important Chinese Art from the Ever Concord II
The auction commenced with the first session Inheritance – Important Chinese Art from the Ever Concord II. After two hours of fierce bidding, 33 lots have all been sold, and thus the turnover rate was 100%. The auctioneer was rewarded with white gloves. This session has achieved a turnover of 61.6 million HK dollars.
Key Lots Sold
A gilt-bronze Maitreya figure from Ming Dynasty, acquired from a private collector in Japan, has won the highest bid of the session. The starting bid was 1 million HK dollars, and after a fierce bidding war, the lot was sold with a hammer price of 19 million, and 22.42 million with premium, 18 times more than the estimated price.
Ming Dynasty Gilt-bronze Maitreya Figure Height: 89cm Source: acquired from Japanese private collector
Sold for: 22.42 million (including premium)
The runner-up goes to the Stupa of Many Doors from Yonge era, Ming Dynasty. As one of the “Tathagata Stupas of the Eight Sacred Places”, which is a set of eight stupas that is one of the most important ceremonial instruments for believers of Mahayana Buddhism, this stupa is the only one that could be traded on the market. The starting bid was 3 million HK dollars, and after many rounds of competition, the final bid reached 9.32 million HK dollars, and this hammer price has become the second top of the session. Moreover, the flower spray bowl from Xuande era of Ming Dynasty, achieved hammer price of 7.55 million HK dollars due to its sophisticated details and rarity, and therefore became the third place of the session. Another porcelain masterpiece, the flower spray vase from Jiaqing era of Qing Dynasty, was sold for 4.07 million HK dollars. As for jade wares, a pair of white jade screen depicting mountain river scenery was sold for 3.42 million HK dollars, and a yellow jade fish figurine from Qing Dynasty realized 3.03 million HK dollars.
Yongle era, Ming Dynasty Gilt-bronze the Stupa of Many Doors, inscribed Da Ming Yongle nian shi Height 28.5cm Source: acquired from Japanese private collector
Sold for: 9.32 million (including premium)
Xuande era, Ming Dynasty A Flower Spray Bowl, inscribed Da Ming Xuande nian zhi Height: 17.3cm Source: Sotheby’s, 1999/6/16, Lot 790
Sold for: 7.55 million (including premium)
Jiaqing era, Qing Dynasty A Flower Spray Vase Height: 28.2cm
Sold for: 4.07 million (including premium)
Qianlong era, Qing Dynasty A Pair of White Jade Screens depicting mountain river scenery Size: 20cm Source: acquired from private collector in Singapore
Sold for: 3.42 million (including premium)
Qianlong era, Qing Dynasty A Yellow Jade Fish Figurine Height: 23.5cm Source: acquired from a private collector in Taiwan
Sold for: 3.03 million (including premium)
Panorama – Hidden Treasures and Fine Antiques
In this session, JointWells (HK) presented 218 carefully selected art pieces, covering porcelain, jade, buddha statues, Chinese paintings, tea art, contemporary art, etc. The total turnover reached 54.32 million HK dollars (including premium), and the turnover rate was 81%. Among these precious items, a Blue Enameled Vase from Qing Dynasty and a Gilt-Bronze ‘Green Tara’ Sitting Figure also from Qing Dynasty, were both sold for 4.48 million HK dollars, and thus claimed the winner of this session. A white jade twin-handled censer from Qing Dynasty started the bidding at 250,000 HKD and was favored by many collectors, in the end it was sold for 3.3 million HKD (including premium), 10 times more than the original estimate.
Yongzheng era, Qing Dynasty A Blue Enameled Vase, inscribed Da Qing Yongzheng nian zhi Height: 63cm Source: auction in Paris