By Naomi Rea,
As auction houses prepare to enter another season with most of the world in lockdown, they are seeking ways to make sure their sales still feel like events. To that end, Christie’s is holding a single-lot sale in Hong Kong dedicated to a pricey painting by Jean-Michel Basquiat on March 23.
The painting, titled Warrior, is from 1982, Basquiat’s most coveted year, and is estimated to fetch between HK$240 million and HK$320 million ($31 million to $41 million). Christie’s co-head of postwar and contemporary art, Cristian Albu, tells Artnet News that the work, which carries a third-party guarantee, is expected to become the most expensive by a Western artist ever to be sold in Asia.
The Asian market’s appetite for Western art has been steadily increasing in recent years, and Albu says the auction house was particularly encouraged by last year’s results, which saw a wide net of Asian buyers bidding on work spanning the 20th century, as well as a new world record set for George Condo in Hong Kong in July.
The live auction will be digitally streamed from salesrooms in Hong Kong, London, and New York, a continuation of the global strategy Christie’s began experimenting with in July 2020 with its four-location relay sale, “ONE.”
It certainly doesn’t hurt matters that Hong Kong’s market seems to be recovering from the impact of the pandemic more quickly than Europe and the US. At Christie’s December 2 sale in Hong Kong and New York, some 17 records were broken for modern and contemporary artists from around the world, including Dana Schutz and Amoako Boafo; it marked the house’s best result in Asia yet.