Christie's, Phillips, and Sotheby's spring marquee auctions in Hong Kong generated a combined $164.9 million, an 18% increase from the equivalent sales in spring 2025. The auctions, strategically timed to coincide with Art Basel Hong Kong, saw strong demand for trophy works, with Christie's leading the season at $83.8 million. Key sales included a Gerhard Richter painting for $11.77 million and a Sanyu work for $8.17 million, while Sotheby's sold a Joan Mitchell painting for $17.6 million, the season's top lot.
The results signal a robust rebound for the Asian auction market, which had hit an eight-year low the previous autumn. The success validates the houses' strategy of aligning with the art fair and focusing on curated, high-quality offerings over volume. Record prices for artists like Walter Spies and Lenz Geerk, alongside strong institutional interest in Asian and female artists, indicate shifting collector priorities and sustained confidence in the region's art market despite more measured gallery sales at the fair.