Setting Foot in Hong Kong Convention and Exhibition Centre for the first time, China Guardian Hong Kong capped off its 5th fall auction with sale totals of HK$652m (US$83.5m), in which HK$217m (US$27.8m) was contributed by Chinese Paintings and Calligraphy sale.

Zhang Daqian’s Vajrasattva, as featured on the cover of the catalogue, was sold for HK$34.9m (US$4.47m), becoming the most expensive lot sold at this autumn auction. The second and the third most expensive lots went to Li Keran’s Sailing Through the Autumn River and Wang Mingming’s The Story of Lanting.

Zhang Daqian (1899-1983)’s Vajrasattva carried a pre-sale estimate of HK$6m-8m (US$769,000 – 1.02m). It was sold for HK$34.91m (US$4.47m), five times of its estimate. Zhang Daqian spent time at Dunhuang imitating frescoes in Mogao Caves, which inspired many of his Buddhism-related works. This colourful portrayal of the Tantric Buddha is rare in its fineness, precision and magnificence, and stands as an indication of Zhang’s thorough understanding of Buddhist art. The work once belonged to Paul Chang, the late son of the artist.

The following one was Li Keran (1907-1989)’s Sailing Through the Autumn River, created in 1964. It is from the artist’s highly sought-after “red landscapes” series and carried an estimate of HK$16m-22m (US$2.05m-2.82m). It was sold for HK$33.2m (US$4.25m) with buyer’s premium.

The third one was The Story of Lanting, created by Wang Mingming in 2016. Wang was born in Beijing and was the then-Deputy Director of Counsellor’s Office of the State Council in China. He developed an interested in painting since childhood and his works have been exhibited in more than 30 countries. Estimated at HK$5m-8m (US$641,000-1.02m), the painting was sold for HK$10.9m (US$1.39m).

Top three lots (by sale results)

ZHANG DAQIAN (1899-1983)
VAJRASATTVA. HANGING SCROLL, INK AND COLOUR ON PAPER.

Lot no.: 1444
Created in: 1950
Size: 95 x 43 cm
Provenance:
Hong Kong Spring Auction 1998, lot 204
Estimate: HK$6,000,000 - 8,000,000 (US$769,000 – 1.02m)
Price realized: HK$34,910,000 (US$4,470,000)

LI KERAN (1907-1989)
SAILING THROUGH THE AUTUMN RIVER. MOUNTED FOR FRAMING, INK AND COLOUR ON PAPER.

Lot no.: 1504
Created in: 1964
Size: 67 x 46.5 cm
Estimate: HK$16,000,000 - 22,000,000 (US$2.05m-2.82m)
Price realized: HK$33,230,000 (US$4.25m)

WANG MINGMING (b.1952).
THE STORY OF LANTING. HANDSCROLL; INK AND COLOUR ON PAPER.

Lot no.: 1585
Created in: 2016
Size: 46.5 x 677.5 cm
Provenance:
With a certificate of authenticity issued by the artist’s studio.
Estimate: HK$5,000,000 - 8,000,000 (US$641,000-1.02m)
Price realized: HK$10,902,500 (US$1.39m)

Auction summary
Auction house: China Guardian Hong Kong
Sale: Chinese Paintings and Calligraphy
Sale date: 2017/10/3
No. of lots: 426
Sale total: HK$217,134,220 (US$27,837,000)
Sold: 299
Unsold: 127
Average price per lot: HK$726,201 (US$93,102)
Sell-through rate: 70%
(All prices realized have included buyer’s premium unless otherwise specified)