Christie's 20/21st Century Autumn sale in Hong Kong on 26 September generated $72.6 million, a 46% drop from the same sale last year and roughly flat compared to its March sale. Despite the decline, a Picasso painting, *Buste de Femme* (1944), set a new Asia record at HK$196.75 million ($25.4 million) after a fierce bidding war. Other top lots included Zao Wou-ki's *17.3.63* (HK$85.2 million) and Yayoi Kusama's *Pumpkin [TWAQN]* (HK$34.66 million). The sale marked the first anniversary of Christie's Asia headquarters in the Henderson building. Sotheby's and Phillips also held autumn sales that weekend, with Sotheby's totaling HK$335.7 million and Phillips achieving HK$160 million.
The results matter because they reveal a recalibrating but resilient Asian art market amid global economic headwinds. Christie's CEO Bonnie Brennan and Asia Pacific head Cristian Albu framed the sale as evidence of sustained demand, particularly for fresh, well-priced property and cross-cultural dialogue between Western and Asian art. The Picasso record underscores that trophy works can still command premium prices, while the strong performance of artists like Zao Wou-ki and Yayoi Kusama highlights shifting global taste. The concurrent sales at Sotheby's and Phillips confirm that Hong Kong remains a vital auction hub, even as volumes contract.