You are on page 1of 16

RESULTS | SHANGHAI | SEPTEMBER 26, 2013

CHRISTIES INAUGURAL SHANGHAI AUCTION ACHIEVES RMB 154 MILLION/USD$25 MILLION


Christies first to sell Picasso at auction in mainland China Records broken for Singaporean art 98% sold by lot, 96% sold by value Cai Guo-Qiang work Homeland to raise funds for new Museum sells for RMB 15 million
SHANGHAI - Christies has successfully completed its first auction in mainland China. After three days of gala events, exhibitions, forums and private sales, culminating in the auction, Christies achieved total sales of RMB 154 million (USD$25 million), exceeding initial estimates. Several historic firsts were achieved and records broken, with today marking the first time a Picasso has been sold at auction in mainland China. Illustrating the increasing prominence of Asian art, a new auction record was set for Singaporean artist Cheong Soo Pieng with his work By The River II achieving RMB4,110,000 (USD$678,326). This also marked a record for Singaporean art sold by an international auction house in mainland China. Masriadis Fatman achieved the highest price ever paid for a similar sized work of the artist at RMB 4,590,000 (USD$757,547). This is also the third highest price ever paid at auction for the artists work. In aid of his charity, the Quanzhou Contemporary Art Foundation, Cai Guo-Qiangs work Homeland was sold for RMB 15 million (USD$2,439,024). More than two thirds of the buyers at the inaugural auction in Shanghai were based in mainland China with the rest coming from elsewhere in Asia, the US and Europe, reflecting the true global nature of the art market. It has been a true privilege to be in Shanghai where we have been honoured by the warm welcome. The response to our sale and events has been extraordinary, said Steven Murphy, Chief Executive Officer, Christies. Bringing international art, including Picasso, to mainland China for the first time is the realization of a long held dream for Christies. We are delighted to have welcomed several thousand members of the public and clients over the course of our three day gala of exhibitions, forums and lectures, all of which attracted attention from all over the world. Our mission remains to serve our clients with exceptional works of art and to serve artists and all those passionate about art by convening them with our global network. We hope to continue to share the vibrant creativity we have experienced in Shanghai with a global audience as we grow our operations in mainland China. Our first auction in Shanghai has illustrated how much demand and appreciation there is for art across categories. A red ruby necklace achieved the highest sales figure at RMB 18 million (USD$3,405,285) and records were broken for Singaporean art, said Franois Curiel, President of Christies Asia. We saw bidders participate from all over the world with online and telephone bidders joining the nearly 1,000 clients in the room tonight. This is an extraordinary start for Christies in mainland China and indicates there will be exciting times ahead for the industry as a whole and art enthusiasts everywhere.
1

Christies inaugural auction in Shanghai has been an unforgettable milestone in our 247 year history, said Jinqing Cai, Managing Director of Christies China. I am incredibly proud of the results we have achieved in Shanghai and honoured by the support we have received. I was particularly moved by the success of Cai Guo-Qiangs work created yesterday in a memorable and emotional explosion. We look forward to continuing to build on the positive momentum we have felt this week. Artists, art lovers, art institutions and those involved in art commerce all joined in hand in hand to make the event a historic success.
PRESS CONTACTS: Luyang Jiang Hildebrandt | Hong Kong | +852 2978 9919 | ljiang@christies.com Meng Mi | Beijing | +10 8572 7977 | mmi@christies.com Zhongwei Qin | Beijing | +10 8572 7950 | zqin@christies.com IMAGES of Top Lots from Christies Shanghai September 2013 Auction are available here. About Christies Christies, the world's leading art business, reached a total of 2.4 billion/$3.68 billion in global auction and private sales in the first six months of 2013. In 2012, global auction and private sales totaled 3.92 billion/$6.27 billion, marking the highest annual revenue ever reached by Christies. Christies is a name and place that speaks of extraordinary art, unparalleled service and expertise, as well as international glamour. Founded in 1766 by James Christie, Christie's has since conducted the greatest and most celebrated auctions through the centuries providing a popular showcase for the unique and the beautiful. Christies offers over 450 auctions annually in over 80 categories, including all areas of fine and decorative arts, jewelry, photography, collectibles, wine, and more. Prices range from $200 to over $100 million. Christie's also has a long and successful history conducting private sales for its clients in all categories, with an emphasis on Post-War and Contemporary, Impressionist and Modern, Old Masters and Jewelry. Global private sales totaled 465 million/$711 million in the first half year of 2013, an increase of 13% from the same period last year, breaking the sales record of half year private sales for Christies and the art market for three consecutive years. Christies has a global presence of 53 offices in 32 countries and 10 salerooms around the world including London, New York, Paris, Geneva, Milan, Amsterdam, Dubai, Zrich, Hong Kong, Shanghai and Mumbai. Christies has recently led in growth markets such as Russia, China, India and The United Arab Emirates, with successful sales, exhibitions and initiatives held in Beijing, Mumbai and Dubai. *Estimates do not include buyers premium. Sales totals are hammer price plus buyers premium and do not reflect costs, financing fees or application of buyers or sellers credits. About Christies Private Sales Christies Private Sales offers collectors access to top works of art from leading collections around the world. Through a dedicated Private Sales department, our specialists work one-on-one with consignors and buyers to meet a variety of collecting needsfrom acquiring a specific work, to buying or selling outside the auction timeline, and more. Christies conducts custom searches for clients to locate key works of art or jewelry they are interested in acquiring when they want to acquire them. Clients are able to register wish lists with our Private Sales team, and as soon as an appropriate item becomes available, we will notify our client. With our extensive global network of professionals and collectors, our specialists are able to provide privileged access to rare and unique works of art and negotiate its purchase at the best possible price outside the traditional auction rooms. About Christies Online Only Sales Since 2012, Christies has been offering time-based on-line only auctions of fine art, jewelry, fashion, decorative arts, photography, and memorabilia. All property auctioned on-line is treated with the same high-touch dedicated cataloguing, inspection, and review as any property offered by Christie's. Many of these online auctions have attracted visitors from over 100 countries. The online auctions last up to two weeks with incremental bidding and staggered end times for different lots. Potential winning bidders are shown an estimate of their all-in price that includes buyer's premium, taxes, and shipping costs. 2

Once registered, bidders receive instant updates by email or phone when other bids exceed their own. All payment is by credit card, and bidding registration is open to all clients. About Christies Education Christie's Education has an unparalleled reputation for preparing graduates to enter the professional art world. With an emphasis on engagement with original works of art, our unique degree programmes and short courses spanning History of Art, the History of the Art Market, Art-World Practice, and Art, Law & Business incorporate connoisseurship and Art Business skills into all our programmes. Our courses open doors to rich and varied career opportunities in the arts industries including auction houses, museums, curatorial roles in public and private collections, galleries, professional services and state organizations. About Christies Art Forum Christies Art Forum was launched in October 2012 in Hong Kong, with the goal to stimulate industry conversation and promote art appreciation in an interactive setting. Through Christies Art Forum, we open a dialogue between artists, collectors and art market professionals from across the region and around the world about art and collecting. We explore the concept of East Meets West, the evolution of traditional Chinese forms of expression and where the art market is going, new developments, and emerging trends, cultivating the art world as one continuity. ### Visit Christies Website at www.christies.com Complete catalogue available online at www.christies.com or via the Christies iPhone app FOLLOW CHRISTIES ON:

RESULT OF CHRISTIES FIRST AUCTION IN MAINLAND CHINA


39 lots sold 40 lots offered Total: RMB 153,395,500.00 / US$ 24,942,357.72 RMB1 = US$6.15 98 sold by lot 96% sold by value

Lot 1 Lot 2 CHATEAU LATOUR FROM THE OUTSTANDING CHATEAU LAFITE 2000 VINTAGE IN MAGNUM & BOTTLE ROTHSCHILD FROM THE EXCEPTIONAL 1982 VINTAGE Chteau Latour Vintage 2000 6 magnums Chteau Lafite Rothschild Vintage 1982 Chteau Latour Vintage 2000 1 double-magnum 12 bottles Chteau Lafite Rothschild Vintage 1982 12 bottles Estimate: RMB220,000300,000 US$35,00050,000 Price Realized: RMB366,000 US$ 59,512 Estimate: RMB420,000600,000 US$70,00095,000 Price Realized: RMB549,000 US$89,268

Lot 3 CHATEAU MOUTON

Lot 4 A LINLEY ARCHITECTURAL WINE BOX IN THE

ROTHSCHILD FROM THE OUTSTANDING 1989 VINTAGE Chteau Mouton Rothschild Vintage 1989 1 double magnum Chteau Mouton Rothschild Vintage 1989 12 bottles

FORM OF CHATEAU MARGAUX, IN COLLABORATION WITH THE ANTIQUE WINE COMPANY Chteau Margaux Vintage 1986 1 bottle Chteau Margaux Vintage 1990 1 bottle Chteau Margaux Vintage 2009 1 bottle Estimate: RMB380,000580,000 US$60,00090,000 Price Realized: RMB463,600 US$75,382

Estimate: RMB80,000160,000 US$13,00030,000 Price Realized: RMB207,400 US$33,723

Lot 5 A CARVED JADEITE LAUGHING BUDDHA Estimate: RMB500,000-800,000 US$80,000-120,000 Price Realized: RMB6,622,500 US$1,076,829

Lot 6 A SET OF JADEITE AND DIAMOND JEWELLERY Estimate: RMB2,000,000-3,000,000 US$324,000-486,000 Price Realized: RMB4,942,500 US$803,658

Lot 7

Lot 8

A DIAMOND NECKLACE, BY VAN CLEEF & A SAPPHIRE AND DIAMOND RING ARPELS Estimate: RMB4,650,000-6,500,000 US$780,000-1,100,000 Price Realized: RMB5,062,500 US$823,170 Estimate: RMB7,800,000-12,000,000 US$1,300,000-2,000,000 Price Realized: RMB10,222,500 US$1,662,195

Lot 9 A RUBY AND NECKLACE BY FAIDEE

DIAMOND

Lot 10 'BUTTERFLY' LIU YE (b. 1964)

Angels House

signed in Chinese; dated 96 (lower left) oil on canvas 29 x 22 cm. (11 3/8 x 8 5/8 in.) Painted in 1996 Estimate: RMB900,0001,500,000 US$150,000250,000 Price Realized: RMB2,182,500 US$354,878

Estimate: RMB18,000,00028,000,000 US$3,000,0004,600,000 Price Realized: RMB20,942,500 US$3,405,284

Lot 11 ZHAN WANG (b. 1962)

Sitting Girl

signed in Chinese; dated 1990;

**WORLD AUCTION RECORD OF THR ARTIST** **RECORD FOR SINGAPOREAN ART SOLD BY AN INTERNATIONAL AUCTION HOUSE IN MAINLAND CHINA **

numbered 1/8 (on the reverse) painted bronze sculpture 115 x 54.5 x 130 cm. (45 1/4 x 21 1/2 x 51 5/8 in.) edition 1/8 Executed in 1990 Estimate: RMB2,200,0002,800,000 US$360,000460,000 Price Realized: RMB5,662,500 US$920,731

Lot 12 CHEONG SOO PIENG (19171983)

By The River II

signed in Chinese; dated 1982 (centre right) oil on canvas 102 x 73.5 cm. (40 1/8 x 29 in.) Painted in 1982 Estimate: RMB600,000800,000 US$97,000130,000 Price Realized: RMB4,102,500 US$ 667,073

Lot 13 LUO ZHONGLI (b. 1948)

Late Return (A Lift at Night)

signed in Chinese; signed Luo Zhong Li in Pinyin; dated 1990 (lower left) oil on canvas 97 x 121 cm. (38 1/8 x 47 5/8 in.) Painted in 1994 Estimate: RMB2,500,0004,500,000 US$405,000729,000 Price Realized: RMB3,022,500 US$491,463

Lot 14 CARTIER. A FINE AND RARE LADYS PLATINUM ASYMMETRICAL WRISTWATCH WITH CUSTOM-MADE DIAL, ORIGINAL CERTIFICATE AND BOX SIGNED CARTIER, MADE IN FRANCE, CRASH MODEL, CASE NO. 121883 AF 2573, CIRCA 2002 Estimate: RMB190,000320,000 US$30,00050,000 Price Realized: RMB275,000 US$44,715

Lot 15 CORUM. AN IMPRESSIVE AND VERY RARE 18K WHITE GOLD AND DIAMOND-SET SQUARE CHRONOGRAPH BRACELET WATCH SIGNED CORUM, CASE NO. 822660, CIRCA 1995

Lot 16 PATEK PHILIPPE. A RARE, UNIQUE AND IMPORTANT 18K WHITE GOLD AUTOMATIC PERPETUAL CALENDAR WRISTWATCH WITH SWEEP CENTRE SECONDS, RETROGRADE DATE, MOON PHASES, LEAP YEAR INDICATION, ORIGINAL CERTIFICATE, PORTFOLIO PHOTOGRAPHS AND WINDING BOX SIGNED PATEK PHILIPPE, GENEVE, REF. 5159, MOVEMENT NO. 3720799, CASE NO. 4455909, CIRCA 2009

Estimate: RMB400,000620,000 US$65,000100,000 Price Realized: RMB500,000 US$81,300

Estimate: RMB620,000950,000 US$100,000150,000 Price Realized: RMB1,582,500 US$257,317

Lot 17 PATEK PHILIPPE. AN EXCEPTIONAL AND UNIQUE 18K PINK GOLD WRISTWATCH WITH SWEEP CENTRE SECONDS AND CLOISONN ENAMEL DIAL, THE LIGHTHOUSE SIGNED PATEK PHILIPPE, GENEVE, REF. 2481, MOVEMENT NO. 704954, CASE NO. 689399, MANUFACTURED IN 1955 Estimate: RMB1,600,0002,500,000 US$250,000400,000 Price Realized: RMB1,582,500 US$257,317

Lot 18 ANDY WARHOL (19281987)

Diamond Dust Shoes

signed and dated Andy Warhol 1981 (on the overlap) synthetic polymer and silkscreen inks with diamond dust on canvas 50 x 41 7/8 in. (127 x 106.3 cm.) Painted in 19801981. Estimate: RMB3,800,0005,000,000 US$600,000800,000 Price Realized: RMB 4,822,500 US$784,146

Lot 19 A MODEL FOR THE UK PAVILION SHANGHAI EXPO 2010

Lot 20 ALEXANDER CALDER (18981976)

Thomas Heatherwick, 2013

Black: 2-2-6

abs plastic, brass rod, aluminium, acrylic, birch, plywood and lime veneer 13 x 51 x 42 in. (33 x 129.5 x 106.7 cm.) Edition 1 of 3

signed with initials and dated CA 65 (on the largest element) hanging mobile painted sheet metal and wire 38 x 48 x 20 in. (96.5 x 121.9 x 50.8 cm.) Executed in 1965. This work is registered in the Archives of the Calder Foundation, New York, under application number A07301. Estinmate: RMB6,200,0009,500,000 US$1,000,0001,500,000 Price Realized: RMB9,622,500 US$1,564,634

Estinmate: RMB700,0001,000,000 US$120,000170,000 Price Realized: RMB1,582,500 US$257,317

Lot 21 PATEK PHILIPPE. AN EXCEPTIONALLY FINE AND UNIQUE 18K GOLD OPENFACE KEYLESS LEVER WATCH WITH ENAMEL MINIATURE OF A BOUQUET OF FLOWERS BY SUZANNE ROHR, WITH ORIGINAL CERTIFICATE, BROCHURE AND BOX

Lot 23 PATEK PHILIPPE. AN EXCEPTIONALLY FINE AND UNIQUE 18K GOLD OPENFACE KEYLESS LEVER WATCH WITH ENAMEL MINIATURE PORTRAIT OF HECTOR BERLIOZ BY SUZANNE ROHR AFTER ED. WINKLER, WITH ORIGINAL CERTIFICATE AND BOX

SIGNED PATEK PHILIPPE, GENEVE, REF. 866/77, SIGNED PATEK PHILIPPE, GENEVE, REF. 715/21, MOVEMENT NO. 932607, CASE NO. 433691, MOVEMENT NO. 893286, CASE NO. 432835, MANUFACTURED IN 1976 MANUFACTURED IN 1968

Estimate: RMB620,000950,000 US$100,000150,000 Price Realized: RMB1,222,500 US$198,780

Estimate: RMB500,000750,000 US$80,000120,000 Price Realized: RMB1,222,500 US$ 198,780

Lot 26 ZENG FANZHI (b. 1964)

Bicycle

Lot 27 SUI JIANGUO (b. 1956)

signed Zeng Fanzhi in Pinyin; signed in Chinese; dated 2005 (lower right) oil on canvas 200 x 200 cm. (78 3/4 x 78 3/4 in.) Painted in 2005

Clothes Veins Study Series

seven plaster sculptures and seven bronze sculptures plaster: The Rebellious Slave; The Dying Slave; The Dying Slave (Education Version); Human Anatomy (Detached Column); Human Anatomy (Lunge Stretch); Doryphorus; & Diskobolos bronze: The Rebellious Slave; The Dying Slave; The Dying Slave (Education Version); Human Anatomy (Detached Column); Human Anatomy (Lunge Stretch); Doryph & Diskobolos signed AP Sui Jianguo in Pinyin (on the reverse) plaster: AP (unique); bronze: AP (edition of 6 & 1 AP) Executed in 1998 Estimate: RMB10,000,000-15,000,000 US$1,650,0002,500,000 Price Realized: RMB 11,982,500 US$1,948,373

Estimate: RMB5,800,0008,800,000 US$950,0001,500,000 Price Realized: RMB9,382,500 US$1,525,609

Lot 28 YE YONGQING (b. 1958)

Lot 29 MAO XUHUI (b. 1956)

Anxieties Add to the Woes

signed Ye; dated 1989.8. (lower centre) oil, mixed media, and paper collage on canvas 89 x 60 cm. (35 x 23 5/8 in.) Painted in 1989 Estimate: RMB500,000700,000 US$80,000120,000 Price Realized: RMB1,342,500 US$218,292

Sitting Paternalism at Night, Female

signed in Chinese; dated 1989.9.22 (lower right) oil on canvas 120.5 x 90.5 cm. (47 3/8 x 35 5/8 in.) Painted in 1989 Estimate: MB900,0001,500,000 US$150,000250,000 Price Realized: RMB1,162,500 US$189,024

**WORLD AUCTION RECORD FOR A SIMILAR SIZED WORK OF THE ARTIST** Lot 30 I. NYOMAN MASRIADI (b. 1973)

Lot 31 ED RUSCHA (b. 1937)

Water

Fatman

signed Masriadi in English; dated 22 Des 2000; inscribed Superman Udah Gemuk (lower centre) mixed media on canvas 145 x 200 cm. (57 1/4 x 78 3/4 in.) Painted in 2000 Estimate: RMB1,300,0001,600,000 US$220,000260,000 Price Realized: RMB4,582,500 US$745,121

signed and dated E. Ruscha 1970 (lower left) gunpowder and pastel on paper 11 x 29 in. (29.2 x 73.6 cm.) Executed in 1970.

Estinmate: RMB1,200,0001,800,000 US$200,000300,000 Price Realized: RMB1,582,500 US$257,317

Lot 32 ZHAN WANG (b. 1962) stainless steel sculpture 90 x 75 x 234 cm. (35 x 29 x 92 1/8 in.) edition 1/4 Executed in 2009

Artificial Rock Series: No. 150

Lot 33 LIU WEI (b. 1965)

Orchids

signed Liu Wei in Pinyin; signed in Chinese; dated 2006 (lower centre) oil on canvas 80 x 243.5 cm. (31 x 95 78 in.) Painted in 2006 Estimate: RMB2,200,0004,000,000 US$360,000650,000

Estinmate: RMB1,600,0002,600,000 US$260,000450,000

Price Realized: RMB2,662,500 US$432,926

Price Realized: RMB2,662,500 US$432,926

Lot 34 LIU WEI (b. 1972)

Purple Air ZJ30033401

Lot 35 WANG GUANGLE (CHINESE, B. 1976)

signed Liu Wei in Pinyin; signed in Chinese; dated 2009 (lower right) oil on canvas 180 x 440 cm. (70 78 x 173 in.) Painted in 2009 Estimate: RMB700,0001,500,000 US$115,000250,000

Afternoon No. 8

signed & titled in Chinese; dated 2003 (lower left) oil on canvas 180 x 160 cm. (70 7/8 x 63 in.) Painted in 2003 Estimate: RMB500,000800,000 US$80,000120,000

Price Realized: RMB2,902,500 US$471,951

Price Realized: RMB1,582,500 US$257,317

Lot 36 PATEK PHILIPPE. A VERY RARE 18K PINK GOLD PERPETUAL CALENDAR SPLIT SECONDS CHRONOGRAPH WRISTWATCH WITH MOON PHASES, 24 HOUR AND LEAP YEAR INDICATION AND UNUSUAL RUBY-SET DIAL, WITH ORIGINAL CERTIFICATE AND ADDITIONAL CASE BACK

Lot 37 PATEK PHILIPPE. A VERY FINE, RARE AND IMPORTANT 18K PINK GOLD AUTOMATIC MINUTE REPEATING PERPETUAL CALENDAR WRISTWATCH WITH MOON PHASES AND UNUSUAL RUBY-SET DIAL, ADDITIONAL CASE BACK AND SERVICE REPORT CONFIRMING MANUFACTURE OF THE DIAL

SIGNED PATEK PHILIPPE, GENEVE, REF. 5004, SIGNED PATEK PHILIPPE, GENEVE, REF. 3974, MOVEMENT NO. 879674, CASE NO.4007834, MOVEMENT NO. 1906078, CASE NO. 2867102, CIRCA 2007 CIRCA 1990 Estimate: RMB2,200,0003,400,000 US$350,000550,000 Price Realized: RMB2,662,500 US$432,926 Estimate: RMB2,800,0004,200,000 US$450,000650,000 Price Realized: RMB3,382,500 US$550,000

Lot 38 PATEK PHILIPPE. AN EXCEPTIONAL, VERY RARE AND POSSIBLY UNIQUE 18K PINK GOLD MINUTE REPEATING TOURBILLON WRISTWATCH WITH RARE RUBY-SET DIAL,

Lot 39 PATEK PHILIPPE. AN EXTREMELY RARE, HIGHLY IMPORTANT AND POSSIBLY UNIQUE 18K PINK GOLD PERPETUAL CALENDAR, MINUTE REPEATING TOURBILLON

10

ORIGINAL CERTIFICATE, ADDITIONAL CASE BACK AND PORTFOLIO PHOTOGRAPHS SIGNED PATEK PHILIPPE, REF. 3939, MOVEMENT NO. 1903107, CASE NO. 4357306, CIRCA 2008

WRISTWATCH WITH RETROGRADE DATE, MOON PHASES, LEAP YEAR INDICATION AND RUBY-SET DIAL, WITH ORIGINAL CERTIFICATE, ADDITIONAL CASE BACK AND PORTFOLIO PHOTOGRAPHS SIGNED PATEK PHILIPPE, GENEVE, REF. 5016, MOVEMENT NO. 1905077, CASE NO. 4188365, CIRCA 2003

Estimate: RMB2,500,0003,800,000 US$400,000600,000 Price Realized: RMB3,022,500 US$491,463

Estimate: RMB3,200,0005,000,000 US$500,000800,000 Price Realized: RMB4,222,500 US$686,585

Lot 40 SHAO FAN (b. 1964)

Work No. 1

Lot 41 QIU DESHU (b. 1948)

engraved in Chinese edition 2/5 acrylic glass, elm wood sculpture 90 x 89 x 171 cm. (35 3/8 x 35 x 67 in.) Executed in 2006 Estimate: RMB300,000400,000 US$50,00065,000 Price Realized: RMB562,500 US$91,463

Crack: Red Rock and Snow Peak

signed in Chinese (lower centre) a set of three acrylic on rice paper and canvas each: 238 x 100 cm. (94 3/4 x 39 3/8 in.) Overall: 238 x 300cm (94 x 118 1/8) Painted in 2011 Estimate: RMB500,000800,000 US$80,000120,000 Price Realized: RMB1,402,500 US$228,048

11

**THE FIRST TIME A PICASSO HAS BEEN SOLD AT AUCTION IN MAINLAND CHINA** Lot 42 PABLO PICASSO (18811973) signed and dated Picasso 21.4.69. (upper right) oil on panel laid down on cradled panel 22 1/4 x 11 1/4 in. (56.6 x 28.7 cm.) Painted in 1969 Estimate: RMB4,500,000-6,200,000 US$700,000-1,000,000 Price Realized: RMB11,534,500 US$1,875,528

Homme assis

CHARITY AUCTION

CAI GUO-QIANG (CHINESE, B. 1957)

Homeland

Homeland was created during a live show whereby gunpowder was ignited to create the drawing on paper, mounted on an 8 panel wood screen measuring 242x744cm. Auction proceedings of the work will benefit the Quanzhou Museum of Contemporary Art Foundation and, more specifically towards the soon to be opened Quanzhou Museum of Contemporary Art (QMoCA). Price Realized: RMB15,000,000 US$3,405,285 *Estimates do not include buyers premium. Sales totals are hammer price plus buyers premium and do not reflect costs, financing fees or application of buyers or sellers credits. Images of Christies First Auction in Mainland China are available here 12

PLEASE CREDIT TO Christies Images Limited 2013 Please note this may only be reproduced in connection with a preview or review of the relevant Christie's sale. Please refer to our Terms & Conditions of use. Use and reproduction of the images may also involve additional copyright which you will need to clear directly with the relevant copyright holder. PRESS CONTACTS: Luyang Jiang Hildebrandt | Hong Kong | +852 2978 9919 | ljiang@christies.com Meng Mi | Beijing | +10 8572 7977 | mmi@christies.com Zhongwei Qin | Beijing | +10 8572 7950 | zqin@christies.com

13