Hong Kong’s evening sales of Modern and Contemporary art this Spring season raised a total of HK$3.45 billion (US$445 million) against the total estimate of HK$2.97 billion to HK$4.21 billion. This was 67.6% higher than the total sales in Summer 2020, and 27.4% higher than the previous record season in Autumn 2020.

Despite the disruption caused by Covid-19 across the global art market, Hong Kong continues to demonstrate confidence at the top-end of the art market, and the increasingly important role of Hong Kong as a global art market hub.

Notably the collaborative ‘white glove’ sale of Phillips and Poly Auctions, “20th Century & Contemporary & Design” held on 8 June pulled in a robust total of US$63.7m, garnered 17 artist records and demonstrated the measure of a strategic alliance which played to the strengths of each party: Phillips international presence and curation of the sale, and Poly’s impressive clientele from mainland China and major cities in S.E. Asia.

Phillips attributed the success of the sale to a live auction experience that saw bidders in auction rooms in Hong Kong and Beijing, phone bidders, and 800 online bidders participate simultaneously.  Jonathan Crockett, Phillips Asia chairman noted the strength of Asian buyers in “building global demand for the modern and contemporary art” categories.