Battle Between Two Abstract Masters: Chu Teh-Chun Failed to Challenge Zao Wou-Ki’s Dominance at Christie’s Contemporary Art Evening Sale

24 Nov, 2018 | Sat | 11:45
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Kicking off the autumn auction week in Hong Kong, Christie’s Asian 20th Century and Contemporary Art Evening Sale took place tonight. Unlike its previous sales which were usually led by masterpieces by Chinese abstract master Zao Wou-Ki (1921-2013), whose works sold for record-setting prices at different occasions, the auction house decided to take a new strategy by placing the highest estimate of the sale at two diptychs by another Chinese abstract master Chu Teh-Chun (1920-2014). Sadly, the two leading works — a 1963 untitled work estimated at HK$120m and N°313 estimated at HK$90m — both failed to find their new home.

Chu Teh-Chun's Untitled (1963)

Chu Teh-Chun's N°313 (1969)

In spite of the auction house’s effort to divert part of the market’s concentrated attention from Zao Wou-Ki to his contemporary Chu Teh-Chun, the market is obviously not ready to go into the new direction. Zao Wou-Ki continued to reign supreme at Christie’s contemporary art evening sale, contributing a sum of hammer prices of HK$168m, nearly half of the total hammer prices of the sale HK$354m. Still, Zao Wou-Ki alone couldn’t salvage the generally disastrous sale, which only totalled HK$425m (US$54.5m) with premium included, far from the sum of presale estimate HK$650m (which didn’t include premium).

Zao Wou-Ki’s Untitled (1957)

Zao Wou-Ki’s Untitled was hammered down at HK$13m

Grace Zhang, Senior Specialist, Asian 20th Century and Contemporary Art

Zao Wou-Ki’s Untitled, presented as lot no. 1, made an impressive start at the sale. It was hammered down at HK$13m after an intense bidding battle, exceeding its estimate of HK$8m. The new owner was the telephone bidder of Grace Zhang, Senior Specialist, Asian 20th Century and Contemporary Art.

Zao Wou-Ki's Ile (Island) (1956)

The painting followed by another Zao Wou-Ki’s work. Estimated at HK$10m, Ile (Island) from 1956 was hammered down at HK$12.5m and sold to a room bidder. 

The auctioneer put the gavel down at HK$101m

Wei-Ting Jud (with her hand raised), Senior Client Advisor, Asian Clients

Eric Chang (middle), Chairman, Asian 20th Century and Contemporary Art

The climax of the sale arrived when lot no. 4, Zao Wou-Ki’s 22.07.64, sparked a prolonged bidding after the auctioneer opened it at HK$50m. Two telephone bidders respectively represented by Eric Chang, Chairman, Asian 20th Century and Contemporary Art, and Wei-Ting Jud, Senior Client Advisor, Asian Clients, were both tenacious and together made more than 25 bids. The painting was hammered down at HK$101m, a price offered by Eric Chang’s client, making it the first piece of artwork that reached the HK$100m mark this autumn auction. The painting realised the highest price of the sale at HK$115m (US$14.7m) after premium.

Zao Wou-Ki's 22.07.64

There is a rough 'Z' figure that snakes upward in the centre of the canvas

Zao Wou-Ki

22.07.64 measures 161.5 x 199.5 cm. Zao's principal palette in 22.07.64 consists of only three colours: bright yellow, inky black, and pure white. Various gradations and hues, derived from combinations of these colours, mix and overlap, spilling out onto the canvas to create a space full of tumultuous colour and action.


In 22.07.64, Zao Wou-Ki loads his brush with black pigments tinged with ochre and lays down broad sweeping strokes. With strong wrist action, he forms resolute lines in inky black, producing a rough 'Z' figure that snakes upward in the centre of the canvas like a dragon flying through clouds and mist.

Zao Wou-Ki's 05.06.63

The second most expensive Zao Wou-Ki painting at the sale was 05.06.63, estimated at HK$20m-28m. The painting was hammered down at HK$17m and sold to a gentleman in the room.

Zao Wou-Ki's 30.09.65

Zao Wou-Ki's Untitled (Golden City) (1951)

However, Zao Wou-Ki was not sure-fire. His 30.09.65 which estimated at HK$65m-85m and a 1951 Untitled (Golden City) that estimated at HK$60m were both bought-in.

Chu Teh-Chun's N°313 was bought-in

Charmie Hamami, Deputy Chairman of Southeast Asia

Marketed as a potential game-changer, Chu Teh-Chun was hit hard with an attempt to challenge Zao Wou-Ki’s supremacy at Asian contemporary art auctions. His diptych N°313 from 1969, valued at HK$90m, was opened at HK$50m. Charmie Hamami, Deputy Chairman of Southeast Asia, in the telephone banks dropped out of the bidding after the price reached HK$80m. The painting went unsold as it failed to meet the estimate.

 

Whereas the blockbuster lot of the sale, an untitled work by Chu Teh-Chun from 1963, was expected to fetch HK$120m. Perhaps the price was considered too ambitious for the abstract master, whose current auction record is only HK$91.82m. The painting also went unsold after no one offered bids higher than HK$80m.

Chu Teh-Chun’ Sombre Horizontal (1989)

Chu Teh-Chu

The only painting by Chu Teh-Chun successfully sold at the sale was Sombre Horizontal, which was hammered down at HK$11m, below its estimate between HK$12m-16m.

Paintings by Zao Wou-Ki sold at the sale

Zao Wou-Ki (1920-2013). 22.07.64

Lot no.: 4
Created in: 1964
Size: 161.5 x 199.5 cm
Provenance:

  • Guy Genon-Gatalot Collection, Paris, France
  • Acquired directly from the artist, and thence by descent to the previous owner.
  • Anon. sale, Christie’s Hong Kong, 26 November 2011, Lot 1006
  • Private Collection, Asia
  • This work is accompanied by a certificate of authenticity issued by Zao Wou-Ki, dated 15 December 2004.

Estimate: HK$75,000,000
Hammer price: HK$101,000,000
Price realised: HK$115,975,000

Zao Wou-Ki (1920-2013). 05.06.63

Lot no.: 24
Created in: 1963
Size: 130 x 90 cm
Provenance:

  • Formerly the Collection of Francine and Vadime Elisseeff,
  • acquired directly from the artist in the 1960s, and thence by descent to the previous owner.
  • Anon. Sale, Christie’s Hong Kong, 29 May 2011, Lot 1129
  • Acquired from the above sale by the present owner
  • This work is referenced in the archive of the Fondation Zao Wou-Ki and will be included in the artist’s forthcoming
  • catalogue raisonne prepared by Francoise Marquet and Yann Hendgen (Information provided by Fondation Zao Wou-Ki).

Estimate: HK$20,000,000-28,000,000
Hammer price: HK$17,000,000
Price realised: HK$20,500,000

Zao Wou-Ki (1920-2013). Untitled

Lot no.: 1
Created in: 1957
Size: 45.5 x 55 cm
Provenance:

  • Private Collection, Europe
  • This work is accompanied by a certificate of authenticity issued by the Foundation Zao Wou-Ki, dated 27 March 2017.
  • This work is referenced in the archive of the Fondation Zao Wou- Ki and will be included in the artist's forthcoming catalogue raisonne prepared by Francoise Marquet and Yann Hendgen (Information provided by Fondation Zao Wou-Ki).

Estimate: HK$8,000,000-10,000,000
Hammer price: HK$13,000,000
Price realised: HK$15,700,000

Zao Wou-Ki (1920-2013). Ile (Island)

Lot no.: 2
Created in: 1956
Size: 60 x 71 cm
Provenance:

  • Anon. Sale, Laurin, Guilloux-Buffetaud, Paris, 1974, Lot 208
  • Acquired from the above by the present owner
  • Private Collection, Europe
  • This work is referenced in the archive of the Fondation Zao Wou-Ki and will be included in the artist's forthcoming catalogue raisonne prepared by Francoise Marquet and Yann Hendgen (Information provided by Fondation Zao Wou-Ki).

Estimate: HK$10,000,000-16,000,000
Hammer price: HK$12,500,000
Price realised: HK$15,100,000

Zao Wou-Ki (1920-2013). 09.01.70

Lot no.: 18
Created in: 1970
Size: 54 x 73 cm
Provenance:

  • Guy Genon-Gatalot Collection, Paris, France
  • Acquired directly from the artist, and thence by descent to the present owner.
  • This work is accompanied by a certificate of authenticity issued by Zao Wou-Ki, dated 15 December 2004.
  • This work is referenced in the archive of the Fondation Zao Wou-Ki and will be included in the artist’s forthcoming catalogue raisonne prepared by Francoise Marquet and Yann Hendgen (Information provided by Fondation Zao Wou-Ki).

Estimate: 6,000,000-8,000,000
Hammer price: HK$12,500,000
Price realised: HK$15,100,000

Zao Wou-Ki (1920-2013). 10.05.76

Lot no.: 19
Created in: 1976
Size: 116 x 89 cm
Provenance:

  • Private Collection, Europe
  • This work is referenced in the archive of the Fondation Zao Wou- Ki and will be included in the artist's forthcoming catalogue raisonne prepared by Francoise Marquet and Yann Hendgen (Information provided by Fondation Zao Wou-Ki).

Estimate: HK$12,000,000-18,000,000
Hammer price: HK$12,500,000
Price realised: HK$15,100,000

High-valued Paintings by Chu Teh-Chun and Zao Wou-Ki That Went Unsold

Chu Teh-Chun (1920-2014). Untitled

Lot no.: 21
Created in: 1963
Size: 195 x 243.5 cm (diptych)
Provenance:

  • Galerie Henriette Legendre, Paris, France
  • Catherine Charbonneaux Maison de Ventes, Paris, 16 June 1991, Lot 36
  • Loudmer Commissaires Priseurs S.C.P., Paris, 6 April 1993, Lot 84
  • Private Collection, Europe
  • Anon. Sale, Christie’s Hong Kong, 23 November 2013, Lot 13
  • Private collection, Asia (Acquired from the above sale by the present owner)

Estimate: HK$120,000,000
Unsold

Chu Teh-Chun (1920-2014). N°313

Lot no.: 20
Created in: 1969
Size: 260 x 185 cm (diptych)
Provenance:

  • Acquired directly from the artist by the previous owner
  • Anon. Sale, Sotheby’s London, 29 June 2011, Lot 67
  • de Sarthe Gallery, Hong Kong
  • Private Collection, Asia

Estimate: HK$90,000,000
Unsold

Zao Wou-Ki (1920-2013). 30.09.65

Lot no.: 3
Created in: 1965
Size: 150 x 162 cm
Provenance:

  • Galerie de France, Paris, France
  • Private Collection, France (acquired from the above by the present owner)

Estimate: HK$65,000,000-85,000,000
Unsold

Zao Wou-Ki (1920-2013). Untitled (Golden City)

Lot no.: 25
Created in: 1951
Size: 89 x 116.5 cm
Provenance:

  • Cadby Birch Gallery, New York, USA
  • Private Collection, New York, USA
  • Lin & Keng Gallery, Taipei, Taiwan
  • Private Collection, Asia

Estimate: HK$60,000,000
Unsold


Auction summary
Auction house: Christie’s Hong Kong
Sale: Asian 20th Century & Contemporary Art (Evening Sale)
Auction date: 24 November 2018｜6:00pm
Lots offered: 55
Sold: 40
Unsold: 15
Sold by lot: 73%
Sale total: HK$424,250,000



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