Christie's - 21st Century Day Sale
May 29th, 2024 - Hong Kong
Executive Summary
The Christie's 21st Century Day Sale featured 101 lots, with 92 successfully sold, resulting in a strong sell-through rate of 91.1%. Despite this, the Total Auction Value, including the buyer's premium, reached HK$118.8 million, while the Total Hammer Price Value was HK$94.5 million, below the Total Median Estimate of HK$111.9 million. This resulted in a Hammer Ratio of 84.4%, indicating that the auction underperformed relative to expectations. The average price per lot was HK$1.3 million, reflecting a significant overall market value per artwork, even if individual pieces did not always meet their median estimates.