Chung Sang-Hwa

Untitled 85-8-9

Found at Christies, Hong Kong
Asian 20th Century & Contemporary Art (Evening Sale), Lot 43
25.Nov - 25.Nov.2017
Estimate: 2.000.000 - 3.000.000 HKD
Price realised: 2.250.000 HKD
signed and titled in Korean; signed 'CHUNG SANG HWA' and dated '1985' (on the reverse); inscribed '130 x 97 cm' (on the stretcher)
acrylic on canvas
130 x 97 cm. (51 1/8 x 38 ¼ in.)
Executed in 1985
Private collection, Asia

Auction result well in line with expectations

In November 2017 Christies in Hong Kong held the auction Asian 20th Century & Contemporary Art (Evening Sale), which included the work Untitled 85-8-9 by Chung Sang-Hwa. The estimated price for the artwork was previously given by the auction house with a range of HKD 2,000,000.00 – 3,000,000.00, the actual price achieved of HKD 2,250,000.00 (€ 242,246.60) could thus just exceed the lower estimate. However, buyers have had to dig much deeper into their pockets for other works by Chung Sang-Hwa - we have observed the highest auction result to date for the work Untitled 97-3-26, which sold at auction in October 2016 for HKD 6,440,000.00 (€ 757,854.41).

Auktionsergebnis im Rahmen der Erwartungen

Im November 2017 führte Christies in Hong Kong die Auktion Asian 20th Century & Contemporary Art (Evening Sale) durch, in der auch die Arbeit Untitled 85-8-9 von Chung Sang-Hwa zur Versteigerung kam. Der Schätzpreis für das Kunstwerk wurde von dem Auktionshaus zuvor mit einer Spanne von HKD 2.000.000,00 – 3.000.000,00 angegeben, der tatsächlich erzielte Preis von HKD 2.250.000,00 (€ 242.246,60) konnte den unteren Schätzpreis somit knapp übertreffen. Für andere Arbeiten von Chung Sang-Hwa mussten die Käufer allerdings auch schon deutlich tiefer in die Tasche greifen – das bisher höchste Auktionsergebnis haben wir für die Arbeit Untitled 97-3-26 beobachtet, die im Oktober 2016 für HKD 6.440.000,00 (€ 757.854,41) versteigert wurde.

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