The only furniture sale at Sotheby's Hong Kong spring sales did surprisingly well, despite the small size of the 28 lots, only 1 lot was not sold, while the remaining 27 lots fetched HK$30m in total. Among these 27 lots, the hammer prices of 23 lots are beyond their pre-sale estimates, illustrating that the market of huanghuali furniture is still strong.
The low estimate of lot 3523, a huanghuali inlaid scroll box, is HK$180,000. Its cushion-shaped cover is inlaid with mother-of-pearl and burl wood with an upright scene, depicting a bird perched on a long gnarled branch bearing magnolia buds and blossoms. This box was sold for HK$3.46m, 19 times of its low estimate, becoming the lot with the 2nd highest price at this auction.
A small zitan shrine was sold for HK$2.5m, 16 times of its low estimate, as the lot with the 3rd highest price. This shrine was constructed in the form of a pavilion, the curved roof fashioned with gently everted edges indented at four points with upturned cusps. On the front side, a pair of wood hinged doors opening to reveal a cavity for the placement of a deity statue. The lot with the highest estimate, a huanghuali dressing case with carved doors and gilt-bronze fittings, fetched HK$6.1m, becoming the top lot of this sale.
A ‘HUANGHUALI’ DRESSING CASE WITH CARVED DOORS AND GILT-BRONZE FITTINGS, LATE MING - EARLY QING DYNASTY
Lot No.: 3508
Size: 37 × 39.1 × 32.1cm
Estimate: HK$800,000 - 1,200,000
A ‘HUANGHUALI’ INLAID SCROLL BOX, LATE MING - EARLY QING DYNASTY
Lot No.: 3523
Size: 10.5 × 74 × 21cm
Estimate: HK$180,000 - 280,000
A SMALL ZITAN SHRINE, EARLY QING DYNASTY
Lot No.: 3514
Size: 27.8 × 18 × 13.8cm
Estimate: HK$150,000 - 250,000
Auction House: Sotheby's Hong Kong
Sale: PORTABLE TREASURES THE DR S.Y. YIP COLLECTION
Sale No.: 23739
Total Sales: HK$30,878,750
Average Price per Sold Lot: HK$1,143,657
Selling Rate: 96%
(prices include buyer's premium, unless otherwise stated)