HONG KONG, 3 October 2018 Sotheby's (NYSE: BID) Autumn 2018 Hong Kong auction series concluded with a grand total of HK$3.64 billion / US$466.1 million, against a pre-sale low estimate of HK$3.1 billion / US$401 million*, representing a 15% increase compared to the same series in October 2017 and flat to those last April. The series of 20 auctions was led by a monumental modern masterpiece by Zao Wou-Ki, which sold for a record HK$510 million / US$65 million.

“With annual sales nearing US$1 billion, Sotheby’s Asia is on track to have one of its best years ever,” commented Kevin Ching, CEO of Sotheby’s Asia. “Season after season, we are attracting new collectors and growing the market – the result of innovative sale concepts and investment in technology.”

“For the past 45 years, Sotheby’s has been at the forefront of the market in Asia and these sales are further evidence of our role in driving today’s trends,” said Patti Wong, Chairman of Sotheby’s Asia. “The thoughtful curation of exciting opportunities we brought together continued to anticipate the tastes of today’s collectors and cement Hong Kong’s position as an international destination for both Asian and Western Art.”  

HIGHLIGHTS SPAN CENTURIES AND CATEGORIESMODERN AND CONTEMPORARY ART EVENING SALE TOTALS HK$1.56 BILLION / US$200 MILLION The highest total for an evening sale in Hong Kong with nine artist records set 100% sell-through rate for Western artists with the highest total for an offering of works sold at auction in Asia Zao Wou-Ki’s Juin-Octobre 1985 sells for HK$510 million / US$65 million, setting three auction records: worldauction record for Zao Wou-Ki, world auction record for an oil painting by an Asian artist, and the most valuable painting sold by any auction house in Hong Kong. Sotheby’s now holds five of the top 10 prices for the artist at auction. Chinese Contemporary Art continues to strengthen: the combined total doubled the pre-sale estimate. XUZHEN SUPERMARKET, Asia’s first pure conceptual art offered at auction, realises HK$2 million / US$255,680SALES OF CHINESE WORKS OF ART TOTAL HK$854.3 MILLION / US$109 MILLION Two Qianlong porcelain masterpieces sold in the range of US$20 million each: the Yamanaka Reticulated Vase achieves HK$149 million / US$19 million and the Falangcai Poppy Bowl sells for HK$169 million / US$21.6 millionTHE THREE DAY SALES OF MODERN ASIAN ART, CONTEMPORARY ART AND SOUTHEAST ASIAN ART TOTAL HK$254.8 MILLION / US$32.6 MILLION Contemporary Art Day Sale 100% sold Five artist records achieved in Modern Asian Art Day Sale 100% sell-through rate for Vietnamese artWINE SALES TOTAL HK$113 MILLION / US$14.5 MILLION Sotheby’s leads the wine auction market in Asia Year-to-date total reaches HK$407 million / US$52 millionIMPORTANT WATCHES TOTALS HK$160 MILLION / US$20.4 MILLION The most valuable wristwatch sold at auction in Asia: Patek Philippe Pink Gold Ref 2499 Perpetual Calendar Chronograph Wristwatch with Moon Phases achieves HK$23.5 million / US$3 millionCLASSICAL AND MODERN CHINESE PAINTINGS SALES ACHIEVE HK$373.2 MILLION / US$47.6 MILLION Zhang Daqian’s Self Portrait with a Tibetan Mastiff sells for HK$49.7 million / US$6.3 million Zhu Da’s Pine Tree and Rock achieves HK$13.3 million / US$1.7 millionBLUE DIAMONDS LEAD SALE OF MAGNIFICENT JEWELS & JADEITE SALE A 5-carat Fancy Vivid Blue Diamond and Diamond Ring, and a 3.47-carat Fancy Intense Blue Diamond Ring sell for HK$108.4 million / US$13.8 million and HK$24.1 million / US$3.1 million respectivelySELLING EXHIBITIONS OF MODERN & CONTEMPORARY ART AND OLD MASTER PAINTINGS & DRAWINGS A Brush with Nature: the most extensive selling exhibition in Hong Kong dedicated entirely to Western Old Master paintings and works on paper Panorama: A New Perspective: second edition of a selling exhibition of Western masterworks by the titans of Impressionist, Modern and Contemporary Art Works by Pierre-Auguste Renoir, Yayoi Kusama, KAWS and a range of Old Masters artists sold to established and new Asian buyers