High Engagement from Bidders Pushes Prices to Exceptional Levels
Chicago – Hindman’s June 25-26, Asian Works of Art auction, has continued the department’s trend in achieving solid results, yet again surpassing presale estimates. Strong presale interest and competitive bidding over multiple telephone lines and online bidding platforms helped push the sale total beyond expectations, ultimately realizing $1.2M. Bidders participated from around the globe, but the most enthusiastic bidding, not surprisingly came from mainland China where the interest in acquiring Chinese works of art remains high.
While interest was strong across all categories, the truly rare and most exquisite works of art saw robust bidding, driving the auction to its outstanding result. The top lot of the auction, a 17th century, white glazed figure of Budai Buddha depicted seated with flowing robes (lot 300), sold for $83,200 against a presale estimate of $4,000-6000. Offered as part of the collection of the Detroit Institute of Arts, the provenance, age and condition all contributed to this stellar result. Additionally, the cover lot of the sale, a rare incised and green enameled porcelain ‘dragon’ bowl decorated with a writhing bright green dragon amongst clouds (lot 52), realized an exceptional $81,250. This 16th century bowl was consigned as part of a Lake Forest, Illinois estate and was estimated at $15,000-20,000.
Jade continued to see extraordinary results as well, with a beautifully carved celadon jade incense burner (lot 257) selling far above its presale estimate of $400-600, ultimately realizing $28,160. Intense online bidding drove the price to a staggering 70 times the presale estimate. Another highlight from the auction was a famille rose porcelain plaque depicting a group of young boys, with the artist’s seal, Wang Qi hua yin (lot 77). This early 20th century painted plaque, from the estate of Colonel John L. Walker and Mattie Mae Walker, Mexico, Missouri, realized $18,750 against a presale estimate of $1,000-2,000.
The second day of the auction was highlighted by a group of ten Chinese famille rose porcelain vases (lot 421), that sold for $15,000. These vases, all decorated with birds and flowering branches came from a private collection and held a presale estimate of $150-250.
The Asian Works of Art auction was held at Hindman’s Chicago saleroom on June 25-26, 2020 with all bidders participating remotely. As has been the trend throughout the spring and early summer, online bidding largely drove the action, accounting for over half of the sale’s bidders.