120% Increase Year-Over-Year

TOP LOT OF THE EVENINGZao Wou-Ki’s Juin-Octobre 1985Realises HK$510 Million / US$65 Million- World Auction Record for Zao Wou-Ki -- World Auction Record for an Oil Painting by an Asian Artist -- Most Valuable Painting Sold by any Auction House in Hong Kong - EXCEPTIONAL PERFORMANCE OF WESTERN ART

Works by Western Artists 100% SoldAchieving HK$260 Million / US$33.4 Million- Highest Total for an Offering of Western Works Sold at Auction in Asia - 8 ARTIST RECORDS SET Zao Wou-Ki, Li Chun-Shan, Sophie Chang, Richard Lin, Nguyen Gia Tri, Wang Xingwei, Hao Liang and Nawa Kohei

Hong Kong, 30 September 2018 Sotheby’s Evening Sales of Modern Art and Contemporary Art in Hong Kong brought a total of HK$1,564,956,500 / US$200,064,039 (estimated in excess of HK$1.16 billion), the highest total for an evening sale in Hong Kong. Patti Wong, Chairman, Sotheby’s Asia, comments: “With so many new benchmarks set here tonight, it is evident that Asian appetite for great examples of Modern and Contemporary Art - be they Asian or Western - is voracious. This was the highest total for an evening sale in Hong Kong, eclipsing the historic 40th anniversary sale of Autumn 2013. Tonight’s result also crowns Zao Wou-Ki king of Asian oil painters. For Modern and Contemporary Western Art, the total of HK$260m (US$33.4m) represents another big leap forward for Asian appreciation in this field.”

HIGHLIGHTS Achieved 120% increase year-over-year o 51% increase over the same sales of Spring 2018 o 38% increase over previous high of HK$1.13bn / US$145.2m, achieved at Sotheby’s Hong Kong 40th Anniversary Evening Sale in Autumn 2013 Sotheby’s remains the market leader of Zao Wou-Ki, holding half of the artist’s top ten prices, including the artist’s world auction record. o The standout result for Zao Wou-Ki this evening doubled the previous record for the artist, simultaneously establishing a new record for any oil painting by an Asian artist. At HK$510 million / US$65 million, the price achieved tonight makes Juin-Octobre 1985 the most valuable painting ever sold at auction in Hong Kong^ Single-collector section of works by Guan Liang achieved stellar results. All six works sold for a total of HK$28,140,000 / US$ 3,597,418, four times the combined pre-sale estimate (HK$7,000,000). o Monk Tang and Wukong sold for HK$9,960,000 / US$ 1,273,286, over twelve times the estimate (HK$800,000) Works by Western artists 100% sold, achieving HK$260 million / US$33.4 million – the highest total for an offering of Western works sold at auction in Asia o Pablo Picasso’s Buste d’homme lauré (1969) sold for HK$61 million / US$7.8 million, confirming the artist’s immense popularity in Asia o Joan Mitchell’s Syrtis (1961) sold for HK$56.5 million / US$7.2 million, marking a great result for the artist’s auction debut in Asia o Notable prices were also achieved for works by Gerhard Richter, George Condo, KAWS, Antony Gormley, Anish Kapoor and Daniel Richter Chinese Contemporary Art continues to strengthen: the combined total doubled the pre-sale estimate o XUZHEN SUPERMARKET, Asia’s first pure conceptual art offered at auction, realised HK$2 million/ US$255,680 Southeast Asian Art 100% sold. 11 of the 17 lots sold over their high estimates. o Nguyen Gia Tri’s Les Villageois (Villagers) and Vu Cao Dam’s Seated Lady sold for many multiples of their estimates o Top lot of the section: Adrien-Jean Le Mayeur De Merprès’s Around The Lotus Pond sold for HK$20,520,000 / US$ 2,623,277. Artist auction records set for Zao Wou-Ki, Li Chun-Shan, Sophie Chang, Richard Lin, Nguyen Gia Tri, Wang Xingwei, Hao Liang and Nawa Kohei. ARTIST AUCTION RECORDS Zao Wou-Ki, Juin-Octobre 1985 Sold for HK$510,371,000 / US$ 65,245,829   Li Chun-Shan, No. 040 Sold for HK$5,640,000 / US$ 721,018  Sophie Chang, A. Autumn Dream B. Heart Amidst The Haze C. Dance Of Ink Sold for HK$2,125,000 / US$ 271,660   Richard Lin, Painting Relief 12.12.63 Sold for HK$9,120,000 / US$ 1,165,901   Nguyen Gia Tri, Les Villageois (The Villagers) Sold for HK$6,120,000/ US$ 782,381  Wang Xingwei, Still No A-Mark Sold for HK$9,960,000 / US$ 1,273,286    Hao Liang, Shell Sold for HK$14,520,000 / US$ 1,856,237  Nawa Kohei, Pixcell - Deer No. 27 Sold for HK$4,320,000 / US$ 552,269  ARTIST RECORD IN ASIA  Nara Yoshitomo, Portrait of AE Sold for HK$26,520,000 / US$ 3,390,317