Willem de Kooning, Door to the River (1960), via Art Observed

Embarking on their first exhibition under their shared gallery name, Dominique Lévy and Brett Gorvy’s new Gorvy Lévy Gallery has opened 2017 with a bang, bringing together a landmark body of paintings by two masters of the medium, Zao Wou-Ki and Willem de Kooning.  Drawing from each artist’s unique gestural abilities and continually inventive bodies of work over the course of their evolution, the show is a major achievement for the gallery, including several major museum loans that underscores Gorvy’s impact on the gallery’s already strong programming.

Zao Wou-Ki, Untitled (1949), via Art Observed

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‪Sotheby’s Hong Kong files suit for $15 million for amounts due from auction and correspondingly publishes the names of those who have not yet paid [AO Newslink]

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Zao Wou-Ki 02-01-65 (1965) Estimate: HK$8-12 million US$1-1.5 million. Price Realized: HK$20,820,000 $2,694,593

Christie’s Hong Kong Spring sale of Contemporary Chinese Art on May 29th, 2010 sold 36 works by artists such as Zao Wou-Ki, Zhan Wang, Cai Guo-Qiang, and Kim Dong Yoo for a combined total of HK$303 million or US$39 million, with important works still fetching prices above their estimated value and all works auctioned were sold. Both Akira Yamaguchi and Ryozo Kato set new artist records for their works with Yamaguchi’s work fetching HK$1,940,000 or US$251,081, and Kato’s work reaching HK$312,500 or US$40,125. Other works that went above the estimate are Andy Warhol‘s portraits of Mao that went for HK$1.5 million dollars above estimates.

According to Art Daily, Eric Chang, International Director of Asia Contemporary Art and Chinese 20th Century, said, “Today’s Evening Sale of Asian Contemporary and Chinese 20th Century Art achieved HK$303.4 million/US$39 million, three times the estimate and a 67% increase from our Spring Evening Sale last year.” Bloomberg reports that the market for Contemporary Asian art is slowly on the rise, although no where near as powerful a force as a few years ago.

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