20th/21st Century Online
Nov. 28th, 2025 - Hong Kong
20th/21st Century Online
0:00
/1462.75
Key Insights
- A Discerning Buyer's Market: The auction showcased a paradoxical market dynamic, pairing an exceptionally high 94.31% sell-through rate with a low hammer ratio of 0.73. This indicates that while collector engagement was robust, buyers were highly disciplined and price-sensitive, consistently acquiring works for an average of 27% below their median estimates. For collectors, this signals an ideal climate for strategic acquisitions, where well-researched, value-oriented bids can succeed without the pressure of speculative bidding wars.