ArtCult - Les nouvelles du marché de l'art.-PRICES FOR CHINESE CONTEMPORARY ARTISTS GO UP THE CEILIN

The sale of Asian contemporary art held by Christie's on November 25th 2007 included some incredible bids that established new world records for Chinese artists Cai Guo-Qiang and Zeng FanZhi.

Asian Contemporary Art

Hong Kong – Sunday, 25November, 2007 - Sale no: 2382 – Top Ten

[All sold pricesinclude buyer's premium]

Sold: HK$ 467,178,500	US$ 60,079,155	€ 40,504,376	£ 29,151,938
Lots Sold: 312	Lots Offered: 326	Sold by Lot: 96%	Sold by HK$: 99%
Exchange Rate: HK$ 1 = US $ 0.1286 /£ 0.0624 / € 0.867

Lot	Description	Estimate (HK$)	Purchase Price	Buyer
487	Cai Guo-Qiang, born in 1957 Set of Fourteen Drawings for Asia-Pacific Economic Cooperation WORLD AUCTION RECORD FOR CHINESE CONTEMPORARY ART WORLD AUCTION RECORD FOR CHINESE PAINTING WORLD AUCTION RECORD FOR THE ARTIST	28,000,000-36,000,000	HK$ 74,247,500 US$ 9,548,229 € 6,437,258 £ 4,633,044	Anonymous
463	Zhang XiaoGang, born in 1958 Portrait in Yellow	8,000,000- 10,000,000	HK$ 22,727,500 US$ 2,922,757 € 1,970,474 £ 1,418,196	Anonymous
456	Yue MinJun, born in 1962 Life	7,000,000- 9,000,000	HK$ 21,607,500 US$ 2,778,725 € 1,873,370 £ 1,348,308	Anonymous
455	Yue MinJun, born in 1962 Big Ear	5,500,000- 7,000,000	HK$ 20,487,500 US$ 2,634,693 € 1,776,266 £ 1,278,420	Asian Private
457	Yue MinJun, born in 1962 Red Boat	4,000,000- 6,000,000	HK$ 12,647,500 US$ 1,626,469 € 1,096,538 £ 789,204	Anonymous
451	Zeng FanZhi, born in 1964 The Mask-Five Faces WORLD AUCTION RECORD FOR THE ARTIST	4,000,000- 5,000,000	HK$ 8,167,500 US$ 1,050,341 € 708,122 £ 509,652	Anonymous
450	Zeng FanZhi, born in 1964 Mask Series 1999 No. 6	3,000,000- 4,000,000	HK$ 7,607,500 US$ 978,325 € 659,570 £ 474,708	European Private
453	Zeng FanZhi, born in 1964 Mask 1995 No. 3	2,000,000- 3,000,000	HK$ 7,607,500 US$ 978,325 € 659,570 £ 474,708	Asian Private
459	Yue MinJun, born in 1962 Untitled, 2000	1,000,000 - 1,400,000	HK$ 7,047,500 US$ 906,309 € 611,018 £ 439,764	Asian Private
514	Zeng FanZhi, born in 1964 Mask Series 1995 No. 8, 1995	1,000,000 - 1,500,000	HK$ 7,047,500 US$ 906,309 € 611,018 £ 439,764	Asian Private

Mr. Eric Chang Ting-Yuen, International Director of the Chinese 20th Century Art & Asian Contemporary Art, Christie's, said: "As the market leader, Christie's continues to play a dominant role in Asian contemporary art, and today's landmark sales underscore just that. The creative vision of Cai's unique work captivated the imagination of collectors around the world. This piece presented a powerful combination of traditional and contemporary elements that appealed to both East and West, and drew bidders vying from Asia, Europe and America." See separate press release.

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