20th Century & Contemporary Art and Design sale previews in city
Phillips will partner with Poly Auction to present a 20th Century & Contemporary Art and Design sale in a dual-location format on June 7 and 8.
The sale will be conducted by Phillips auctioneers in Hong Kong with a live feed relayed from Poly's auction room in Beijing. The auctioneers will be able to take bids from those bidding in person and over the phone at both locations simultaneously, as well as from online bidders.
Its Asia touring previews, after the first leg in Beijing, are under way at Jing An Shangri-La hotel in Shanghai this weekend.
Gerhard Richter’s “Abstraktes Bild (940-7)” is one of the highlights of the joint sale. Offered for the first time at auction, this abstract painting from Richter’s most well-known series comprises rich tones of primary colors of red and yellow, and is glorious in its enveloping celebration of color and texture.
Another major highlight is Yoshitomo Nara’s “Missing in Action,” an example of Nara’s huge body of works portraying children often depicted in solitary landscapes or against void-like monochrome backdrops.
Although Banksy’s “Laugh Now Panel A” doesn’t show up at the previews, this work will mark the first time a major auction house in Asia will accept Bitcoin and Ether cryptocurrencies as a payment option for a physical work of art.
Bidding for “Laugh Now Panel A” will be conducted in Hong Kong dollars, and the winning buyer will have the option to pay the hammer price as well as the buyer’s premium with cryptocurrencies via Coinbase, the largest cryptocurrency exchange platform in the United States.
“Laugh Now Panel A” portrays a forlorn monkey, wearing a sandwich-board bearing a very specific memo: “Laugh now, but one day we’ll be in charge.”
Banksy has been a disruptor in the art world with his distinctive oeuvre characterized by dark humor, satire and political commentary.
By offering participants this new payment option, Phillips will connect Banksy’s bold creations with tech-savvy collectors eager to quickly adapt to new technological advances.
The touring previews will later be held in cities including Shenzhen and Taipei. The auctions will be livestreamed to audiences worldwide on Phillips.com and the Phillips app, as well as on the Poly Auction app and its WeChat mini program.
Date: May 8 and 9, 10am-6pm
Venue: Banquet Hall, Jing An Shangri-La
Address: 1218 Yan’an Road M.