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Subject: Art Basel Hong Kong Returns
From: Artelligence <artelligence@substack.com>
To: enzo@showfile.com
Reply-To: Artelligence
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Date: Wed, 22 Mar 2023 21:31:00 +0000
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View this post on the web at https://artelligence.substack.com/p/art-basel-=
hong-kong-returns

Welcome to the Artelligence newsletter
This is the new home for news and analysis of the global art market from Ar=
t Market Monitor and LiveArt. Combined with our Artelligence podcast [ http=
s://substack.com/redirect/d43ce5a9-bab9-44f6-99ab-e79143fce65b?j=3DeyJ1Ijoi=
MjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ], it offers a uniq=
ue perspective on the global art market.
If you have questions, tips or suggestions for coverage, feel free to conta=
ct us here [ mailto:maneker@artmarketmonitor.com ].
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o subscribe. If you don=E2=80=99t want or need another newsletter, feel fre=
e to unsubscribe. But we hope you=E2=80=99ll stick with us.
In This Issue
Lot Watch: Phillips has Esman Estate
Results: Bonhams surprise $1.5m Cong; Sotheby=E2=80=99s sets a Husain recor=
d; Christie=E2=80=99s sells Korean moon jar for $4.5m.
Notes: Export ban for Sir Joshua Reynolds portrait extended for another qua=
rter while UK scrambles to raise =C2=A350m
Let the Games Begin: All three global auction houses will have their own sa=
les facilities in Hong Kong by 2024
Hong Kong Stands Tall in Asian Sales: Competition from Seoul and Singapore =
still not a threat to Hong Kong=E2=80=99s stature as an art sales center
Art Basel Hong Kong Sales Round-Up: All the reported sales in one easy to r=
ead post
House Proud: Sotheby=E2=80=99s Concierge holds its first live auction
Not TEFAFfing Around: Dutch fair issues sales report
Lot Watch
Phillips Announces Esman Collection
Phillips will be selling the collection of Rosa and Aaron Esman. Aaron was =
a psychoanalyst with an interest in creativity and the mind. Rosa was a pri=
nt publisher and a gallerist. Naturally, the collection is heavy on prints,=
 photography and other works on paper. Works by Josef Albers and Robert Rau=
schenberg will be included in Phillips May Evening sale, including Robert R=
auschenberg=E2=80=99s Bath from 1964 (above) estimated at $400,000.=20
Results
Bonhams sells a 5000-year-old Jade Cong for $1.5 million [ https://substack=
=2Ecom/redirect/b751faf1-9d6f-4f02-8c34-c=
fa1984c0a0c?j=3DeyJ1IjoiMjdjZXI5In0.=
nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ] or 50 times the estimate: The=
 neolithic ritual object was part of the J.J. Lally works offered during As=
ia Week in New York.
Sotheby=E2=80=99s Modern & Contemporary South Asian =3D $6.95m
Forty percent of the total came from a single lot by M.F. Husain. His 1961 =
painting  [ https://substack.com/redirect/912ac302-f9a5-4683-9d7e-6ecaa5ec5=
46f?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ]Bu=
lls [ https://substack.com/redirect/912ac302-f9a5-4683-9d7e-6ecaa5ec546f?j=
=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ] was of=
fered with a $1m estimate but sold for $2.78m with fees [ https://substack.=
com/redirect/912ac302-f9a5-4683-9d7e-6ecaa5ec546f?j=3DeyJ1IjoiMjdjZXI5In0.n=
CNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ]. Once owned by the publiser Ha=
rry Abrams, the sale is a new record for Husain, the Picasso of the South A=
sian art market, exceeding his previous high sale by ~$500k. S.H. Raza saw =
a similar jump from a lower level when his 1951 work  [ https://substack.co=
m/redirect/292ecdb4-3a2b-4548-abd1-a4a1f9bfb6ac?j=3DeyJ1IjoiMjdjZXI5In0.nCN=
hOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ]untitled (La Ville) [ https://sub=
stack.com/redirect/292ecdb4-3a2b-4548-abd1-a4a1f9bfb6ac?j=3DeyJ1IjoiMjdjZXI=
5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ] made $533,400 against a =
$200k estimate [ https://substack.com/redirect/292ecdb4-3a2b-4548-abd1-a4a1=
f9bfb6ac?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWd=
Y ]. Raza=E2=80=99s 1952 work Houses made a bigger leap than both to sell f=
or $1.33m over another $200k estimate. Bidding wasn=E2=80=99t isolated to t=
hese two artists; almost two-thirds of the lots sold went for prices above =
the estimates.=20
Christie=E2=80=99s Japanese & Korean Art =3D $11.4m
A Hokusai Great Wave print estimated at $500k sold for $2.76m in Christie=
=E2=80=99s [ https://substack.com/redirect/30fd9d1f-d2bd-412a-95c9-f5905eeb=
3044?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ] =
Japanese and Korean art sale in New York. A Korean porcelain moon jar by an=
 unknown artisan [ https://substack.com/redirect/4c09b37d-bf87-49b9-9ddd-e6=
c0cb5fbb86?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7g=
WdY ] estimated at $1m sold for $4.5m in the same sale [ https://substack.c=
om/redirect/4c09b37d-bf87-49b9-9ddd-e6c0cb5fbb86?j=3DeyJ1IjoiMjdjZXI5In0.nC=
NhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ].=20
Christie=E2=80=99s Modern British & Irish Evening Sale =3D =C2=A319.2m: A w=
ork on paper by  [ https://substack.com/redirect/ecb24ca4-45ec-4a51-a968-12=
a4b611e4ac?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7g=
WdY ]Pauline Boty [ https://substack.com/redirect/ecb24ca4-45ec-4a51-a968-1=
2a4b611e4ac?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7=
gWdY ] titled  [ https://substack.com/redirect/ecb24ca4-45ec-4a51-a968-12a4=
b611e4ac?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWd=
Y ]Bum [ https://substack.com/redirect/ecb24ca4-45ec-4a51-a968-12a4b611e4ac=
?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ] from=
 1966 sold for $293,837 over a $75,000 estimate [ https://substack.com/redi=
rect/ecb24ca4-45ec-4a51-a968-12a4b611e4ac?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1=
d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ]. The painting of the same image previo=
usly sold for $841,921 [ https://substack.com/redirect/71eacbf5-a8ce-4838-b=
86f-0e5901dc336b?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_=
g6pp7gWdY ]. It was also estimated at a fraction of the final sale price. A=
 Ben Nicholson painting, 1945 (you can guess the date it was made), made $5=
56,744 against an estimate a third of the final price. [ https://substack.c=
om/redirect/2275f471-5ddb-4f8b-aa6e-55e09e4eb969?j=3DeyJ1IjoiMjdjZXI5In0.nC=
NhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ] The star lot was by Scottish Co=
lourist John Duncan Fergusson whose Submarines and Camouflaged Battleships =
[ https://substack.com/redirect/7d9a3758-f82f-4a88-9e72-707483d815a7?j=3Dey=
J1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ] from 1918 m=
ade $1.3m over an estimate under $500,000 [ https://substack.com/redirect/7=
d9a3758-f82f-4a88-9e72-707483d815a7?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmM=
pisrMe5iRnigHXx6Fx_g6pp7gWdY ].
Notes
Export Ban for Reynolds Portrait Extended to June: The UK government has mo=
ved the deadline to raise =C2=A350m needed to acquire for London=E2=80=99s =
National Portrait Gallery Sir Joshua Reynolds=E2=80=99s Portrait of Omai (1=
776), a work that is an important reminder of the long history of the prese=
nce of non-Europeans at every level of British society. You may remember th=
is excellent John Gapper story in the  [ https://substack.com/redirect/7760=
0133-0997-45e3-91f2-68d9b196f330?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpis=
rMe5iRnigHXx6Fx_g6pp7gWdY ]Financial Times [ https://substack.com/redirect/=
77600133-0997-45e3-91f2-68d9b196f330?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQm=
MpisrMe5iRnigHXx6Fx_g6pp7gWdY ] that covers the entire issue from every ang=
le including whether the 20-year, five-fold increase in price to =C2=A350m =
price is justified, why Irish billionaire John Magnier is holding out and, =
perhaps most important of all, why the painting is so culturally important =
today. If the extension fails, the work will likely appear at auction soon =
after.
How auction houses Christie=E2=80=99s, Sotheby=E2=80=99s and Phillips in Ho=
ng Kong are expanding, and what it means for buyers [ https://substack.com/=
redirect/24cc7700-82fa-4317-a39f-0fb575e65c84?j=3DeyJ1IjoiMjdjZXI5In0.nCNhO=
M3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ] (SCMP)
Art Basel Hong Kong returned to the city in full force after nearly four ye=
ars of no fairs or highly constrained events. The South China Morning Post=
=E2=80=99s excellent Enid Tsui gathers together all of the relevant informa=
tion about the new locations for Phillips, Sotheby=E2=80=99s and Christie=
=E2=80=99s in the Asian entrepot. Phillips christens its new HQ next week; =
Sotheby=E2=80=99s will debut in Charter House next year; and Christie=E2=80=
=99s will move into a Zaha Hadid Architects-designed building in 2024.
Once the houses no longer have to coordinate different weeks for sales, the=
 Hong Kong calendar can coalesce around common selling weeks as happens in =
the other auction centers of New York and London. Tsui checked in with Patt=
i Wong, one of the presiding spirits of the Asian art market:
Patti Wong, former international chairman of Sotheby=E2=80=99s who left the=
 auction house after 30 years to launch her own art advisory service in Jan=
uary, says all the auction houses are indeed making substantial investments=
 in Hong Kong. It will save them money in the long run, she says.
=E2=80=9CIn Hong Kong, the sales evolved to near art fair size. The set-up =
cost for temporary sales made sense when you only had Chinese paintings and=
 ceramics. These days, you need hundreds of people to set them up amid esca=
lating costs.
As Rival Cities Rise, the Hong Kong Art Gallery Association Builds [ https:=
//substack.com/redirect/e0a1993d-a6b1-42b3-8820-340e5068094f?j=3DeyJ1IjoiMj=
djZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ] (ARTnews)
Andrew Russeth flew into Hong Kong from his outpost in Seoul to file one of=
 the more interesting reports on the Asian art capital. Among other points,=
 he succinctly explains why Hong Kong is far from being dethroned:
Journalists love a rivalry, but the truth is that Hong Kong continues to to=
wer over its potential competitors, at least when measured by dollar value.=
 South Korea also has a largely tax-free setup, and in 2022 did a record 1.=
04 trillion won (about $782 million) [ https://substack.com/redirect/adc895=
fd-c8d3-4ee3-a0ed-21f83845d5ca?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrM=
e5iRnigHXx6Fx_g6pp7gWdY ] in total art sales, according to government stati=
stics; meanwhile, at just its spring auction in Hong Kong, Sotheby=E2=80=99=
s rang up nearly $500 million [ https://substack.com/redirect/b632edb1-b8a2=
-4321-a17e-47a2af9559d5?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnig=
HXx6Fx_g6pp7gWdY ]. (For 2021, ArtPrice put Hong Kong=E2=80=99s total aucti=
on turnover at $1.7 billion.) The bluest of blue chips continue to operate =
in the city, a key hub for the $13.4 billion Chinese market. Over in Singap=
ore, the VAT is going from 8 percent to 9 percent next year, and at the Art=
 SG fair there in January, =E2=80=9Cthe amount of supply did not match the =
amount of demand,=E2=80=9D Hon said. (There was more of the former.)
Art Basel Hong Kong Sale Reports
Artnet is first out of the gate with Frederik Balfour=E2=80=99s fair report=
:
Stephen Friedman=C2=A0
Two works acquired by Asian museums:
Birdcage Man by Yinka Shonibare sold for =C2=A3200,000 ($244,794)
A Jeffrey Gibson painting for $250,000
David Kordansky Gallery
Sold 10 Adam Pendletons to Asian clients, including all eight large-scale w=
orks on Mylar for $95,000 and two small paintings on canvas for $135,000. A=
nd an additional work on canvas sold at the fair for $135,000
David Zwirner
Sold an oil on linen entitled Truffaut, painted by Elizabeth Peyton in 2005=
 for $2.2 million to a major Asian museum.=20
Sadie Coles
Sold a 2021 Richard Prince for $750,000 to a European buyer.=20
Five works of wash on paper by Isabella Ducrot for =E2=82=AC4,000 each.
Balfour reports on Liu Yiqian=E2=80=99s fair shopping:
Jordan Wolfson, Red Sculpture (2016-2022) for $900,000 from David Zwirner
A Helen Marten silkscreen on multimedia from Sadie Coles HQ for $285,000
Two painted bronze sculptures at $350,000 each from Gladstone Gallery by Ug=
o Rondinone.
=E2=80=98Hong Kong Is Rolling Out the Red Carpet:=E2=80=99 Art Basel Return=
s With an Inflatable King Tut and Collectors Still Hungry for Ultra-Contemp=
orary Art  [ https://substack.com/redirect/e2036f09-3ec0-47f4-b137-ee68d49a=
d0f1?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY ](=
Artnet)
ARTnews
Angelica Villa gathered these sales:
Hauser & Wirth=20
George Condo=E2=80=99s 2011 painting Purple Compression sold  for $4.75 mil=
lion, going to a private collection that=E2=80=99s based between New York a=
nd Hong Kong.=20
Mark Bradford=E2=80=99s large-scale abstraction A Straight Line sold for $3=
=2E5 million. Another by Bradford sold fr=
om the gallery=E2=80=99s showcase at=
 Frieze Los Angeles for the same price.=20
Works by Henry Taylor, Pat Steir, Ed Clark and Frank Bowling were among the=
 others. Their works sold for prices between $350,000 and $975,000.
Fergus McCaffrey=20
A 1991 red abstract painting by Kazuo Shiraga that came from the artist=E2=
=80=99s estate for $5 million
Xavier Hufkens=E2=80=99
Alice Neel, Muriel Gardiner Buttinger (1966) sold for a price between $1 mi=
llion and $1.2 million
Five paintings by Cassi Namoda and other sculptures by Thomas Houseago and =
also sold. Those works went for prices ranging between $50,000 and $400,000=
, respectively.
Mark Bradford, Elizabeth Peyton and Kazuo Shiraga Top =E2=80=98Healthy=E2=
=80=99 Sales at Art Basel Hong=C2=A0Kong [ https://substack.com/redirect/25=
96c8be-8c71-435f-996e-2fce9da6bce3?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMp=
isrMe5iRnigHXx6Fx_g6pp7gWdY ] (ARTnews)
Sotheby=E2=80=99s Moves Concierge Real Estate Auctions to the Live Platform
Sotheby=E2=80=99s bought Concierge real estate auctions in partnership with=
 Realogy, who licenses the Sotheby=E2=80=99s name for its Sotheby=E2=80=99s=
 International Realty brand, a hear and a half ago. Concierge holds online =
real estate auctions. This CNBC report from Robert Frank is about the first=
 live auction held at Sotheby=E2=80=99s. Frank points out that much of the =
inventory are expensive homes where the seller has not been able to get the=
 price they believe the property should command. (Click on the image to wat=
ch the video)
TEFAF Issues Fair Sales Report
The long-running TEFAF art fair in Maastricht has now closed which leaves t=
he fair the task of reporting sales. Galleries are notoriously difficult to=
 pin down when it comes to sales figures. The reports are always excessivel=
y upbeat. Nevertheless, there=E2=80=99s value in these lists. With 250 inst=
itutions facing off against 270 exhibitors, the fair was a pretty even matc=
h between buyers and sellers.=20
Here=E2=80=99s what they said:
Michael Goedhuis sold a group of Chinese contemporary paintings with a medi=
an price of $100,000 and a 2nd century BC Bronze Han vase for $85,000 to an=
 American institution and European private buyers
Ben Janssens Oriental Art sold over 40 works including a Japanese Choshitsu=
 carved lacquer screen, which is destined for a private yacht.
Sean Kelly sold a vast Kehinde Wiley painting (304cm x 216cm), Portrait of =
Tarek Ali Ellis and Michael Morgan to a private collector for $950,000.=C2=
=A0
Lisson Gallery sold two paintings by Sarah Cunningham to private collectors=
 for an undisclosed sum. Other sales included a large-scale gold work by Ol=
ga de Amaral, the celebrated Colombian textile and visual artist as well as=
 works by the Chinese artist, Li Ran and the New York-based artist, Jack Pi=
erson.
Littleton & Hennessy Asian Art sold the allegedly =E2=80=98most photographe=
d=E2=80=99 contemporary work. Astronaut, a pink onyx sculpture by new-media=
 artist and pioneer of digital game art in China, Feng Mengbo was acquired =
by a private American collector for a price in the region of =E2=82=AC240,0=
00.
Lullo =E2=80=A2 Pampoulides sold Mary Magdalene Meditating on the Skull by =
Luca Giordano to an undisclosed museum, a haunting Juana Romani portrait Fe=
mme au fond brun to a private collector, and the colossal Launch of the Arg=
o, presented by the 16-year-old artist, Jules van Biesbroek at the Paris Sa=
lon in 1890, also acquired by a European private collector.=C2=A0
Rome=E2=80=99s Antonacci Lapiccirella Fine Art sold Le Quattro Stagioni by =
Giacomo Balla to a private collector for an asking price of circa =E2=82=AC=
1,000,000 during the preview days of the fair. Balla was the leading Italia=
n Futurist artist. It also sold Musiciennes dans un Parc by JP Berthon to a=
n important German museum, Portrait of Elisa Baciocchi by Pietro Benvenuti =
to a private Italian foundation, and Female Nude Reading by Ugo Celada da V=
irgilio to a Dutch Museum.
Haboldt & Co sold two paintings by Rachel Ruysch  to a European and America=
n museum respectively for six-figure amounts. The director and curatorial t=
eam visited from the American museum on the opening day. The institution wa=
s eager to acquire a later example of Ruysch=E2=80=99s work to show alongsi=
de an earlier work in the collection, illustrating the development of this =
important Dutch still life artist.=C2=A0
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  .typography .markup div.captioned-button-wrap .subscription-widget.show-s=
ubscribe,
  .typography.editor .markup div.captioned-button-wrap .subscription-widget=
=2Eshow-subscribe {
    padding: 24px;
  }
}


@media screen and (max-width: 650px) {
  .typography .markup div.subscription-widget-wrap .subscription-widget.sho=
w-subscribe .subscription-widget-subscribe .button,
  .typography.editor .markup div.subscription-widget-wrap .subscription-wid=
get.show-subscribe .subscription-widget-subscribe .button,
  .typography .markup div.captioned-button-wrap .subscription-widget.show-s=
ubscribe .subscription-widget-subscribe .button,
  .typography.editor .markup div.captioned-button-wrap .subscription-widget=
=2Eshow-subscribe .subscription-widget-subscribe .button {
    padding: 10px 12px;
    min-width: 110px;
  }
}


@media (max-width: 650px) {
  .typography .markup .tweet,
  .typography.editor .markup .tweet {
    padding: 12px;
  }
}


@media (max-width: 650px) {
  .typography .markup .tweet .tweet-text,
  .typography.editor .markup .tweet .tweet-text {
    font-size: 14px;
    line-height: 20px;
  }
}


@media (max-width: 650px) {
  .typography .markup .tweet .tweet-photos-container.two,
  .typography.editor .markup .tweet .tweet-photos-container.two,
  .typography .markup .tweet .tweet-photos-container.three,
  .typography.editor .markup .tweet .tweet-photos-container.three,
  .typography .markup .tweet .tweet-photos-container.four,
  .typography.editor .markup .tweet .tweet-photos-container.four {
    height: 200px;
  }
}


@media (max-width: 650px) {
  .typography .markup .tweet a.expanded-link .expanded-link-img,
  .typography.editor .markup .tweet a.expanded-link .expanded-link-img {
    max-height: 180px;
  }
}


@media (max-width: 650px) {
  .typography .markup .tweet a.expanded-link .expanded-link-description,
  .typography.editor .markup .tweet a.expanded-link .expanded-link-descript=
ion {
    display: none;
  }
}


@media screen and (max-width: 650px) {
  .typography .markup .apple-podcast-container,
  .typography.editor .markup .apple-podcast-container {
    width: unset;
  }
}


@media (max-width: 420px) {
  .typography .markup .install-substack-app-embed img.install-substack-app-=
embed-img,
  .typography.editor .markup .install-substack-app-embed img.install-substa=
ck-app-embed-img {
    margin: 0 auto 16px auto;
  }
}


@media screen and (min-width: 420px) and (max-width: 600px) {
  .typography .markup .install-substack-app-embed .install-substack-app-emb=
ed-text,
  .typography.editor .markup .install-substack-app-embed .install-substack-=
app-embed-text {
    max-width: calc(100% - 100px);
    width: initial;
  }
}


@media (max-width: 420px) {
  .typography .markup .install-substack-app-embed .install-substack-app-emb=
ed-text,
  .typography.editor .markup .install-substack-app-embed .install-substack-=
app-embed-text {
    margin: 0 0 12px 0;
    max-width: 100%;
    width: auto;
    text-align: center;
  }
}


@media (max-width: 600px) {
  .typography .markup .install-substack-app-embed .install-substack-app-emb=
ed-link,
  .typography.editor .markup .install-substack-app-embed .install-substack-=
app-embed-link {
    margin-top: 16px;
    width: 100%;
  }
}


@media screen and (min-width: 481px) {
  .share-button-container {
    height: 38px;
  }
}


@media screen and (min-width: 481px) {
  .share-button-container a.comment {
    height: 38px;
    line-height: 38px;
    padding-right: 10px;
  }
}


@media screen and (max-width: 480px) {
  .share-button-container .separator {
    display: block;
    margin: 0;
    height: 8px;
    border-left: none;
  }
}


@media screen and (max-width: 480px) {
  .share-button-container a.share.first img {
    padding-left: 0;
  }
}


@media screen and (min-width: 481px) {
  .share-button-container a.mobile {
    display: none !important;
  }
}


@media screen and (max-width: 650px) {
  .social-media-share-preview__description {
    -webkit-line-clamp: 2;
  }
}


@media screen and (max-width: 1000px) {
  .congrats-box {
    flex-direction: column;
  }
  .congrats-box .congrats-box-right {
    margin-left: 38px;
    margin-top: 16px;
  }
}


@media screen and (max-width: 500px) {
  .congrats-box {
    display: none;
  }
}


@media screen and (min-width: 541px) {
  .settings-add-pub-modal-wrapper .container .add-recommending-pub-modal-co=
ntainer {
    padding: 36px;
    height: 680px;
  }
}


@media screen and (min-width: 541px) {
  .settings-add-pub-modal-wrapper .container .add-recommending-pub-modal-co=
ntainer .footer {
    position: absolute;
    bottom: 36px;
    margin: 0px;
  }
}


@media screen and (max-width: 840px) {
  .header-with-anchor-widget .header-anchor-widget,
  .header-anchor-container .header-anchor-widget {
    display: none;
  }
}


@media screen and (min-width: 768px) {
  .post {
    padding: 32px 0 0 0;
  }
}


@media screen and (max-width: 650px) {
  .post .post-header .post-label {
    margin-top: 8px;
  }
}


@media screen and (max-width: 650px) {
  .post .post-header .meta-author-wrap.alternative-meta .meta-right-column =
=2Epost-meta {
    margin-top: 6px;
  }
}


@media screen and (max-width: 650px) {
  .post .footer-facepile-container {
    height: 64px;
    padding: 0 16px;
    display: flex;
    align-items: center;
    justify-content: flex-start;
    width: 100%;
  }
}


@media screen and (max-width: 650px) {
  .post .post-footer.use-separators {
    justify-content: center;
    margin: 0 -16px;
    padding: 0;
    gap: 0;
  }
}


@media screen and (max-width: 650px) {
  .post .post-footer.next-prev {
    height: 64px;
    justify-content: space-between;
    box-sizing: border-box;
  }
}


@media screen and (max-width: 650px) {
  .post-contributor-footer .post-contributor-bio-table {
    display: block;
  }
  .post-contributor-footer .post-contributor-bio-table-row {
    display: flex;
    flex-direction: row;
  }
  .post-contributor-footer .post-contributor-bio-userhead-cell,
  .post-contributor-footer .post-contributor-bio-body-cell {
    display: block;
  }
  .post-contributor-footer .post-contributor-bio-body-cell {
    flex-grow: 1;
  }
  .post-contributor-footer .post-contributor-bio-body-table {
    display: block;
  }
  .post-contributor-footer .post-contributor-bio-body-table-row {
    display: block;
  }
  .post-contributor-footer .post-contributor-bio-copy-cell,
  .post-contributor-footer .post-contributor-bio-controls-cell {
    display: block;
  }
  .post-contributor-footer .post-contributor-bio-copy-cell {
    margin: 0 0 16px 0;
  }
  .post-contributor-footer .post-contributor-bio-controls-cell {
    width: auto;
  }
  .post-contributor-footer .post-contributor-bio-controls {
    margin: auto;
  }
  .post-contributor-footer .post-contributor-bio-controls .button.primary {
    width: 100%;
  }
  .post-contributor-footer .post-contributor-bio-text {
    font-size: 14px;
  }
}


@media screen and (min-width: 768px) {
  .post-silhouette {
    padding: 16px 0;
  }
}


@media screen and (max-width: 650px) {
  .post-silhouette .post-silhouette-title {
    margin-top: 10.44225025px;
    height: 120px;
  }
}


@media screen and (max-width: 650px) {
  .post-silhouette .post-silhouette-meta {
    width: 75%;
  }
}


@media screen and (max-width: 650px) {
  .post-silhouette .post-silhouette-meta.with-byline-image {
    margin: 20px 0;
  }
}


@media screen and (max-width: 650px) {
  .use-theme-bg .post-meta.alternative-meta .post-meta-item,
  .post-meta.alternative-meta .post-meta-item {
    padding-right: 16px;
  }
}


@media screen and (max-width: 370px) {
  .use-theme-bg .post-meta.alternative-meta .post-meta-item,
  .post-meta.alternative-meta .post-meta-item {
    font-size: 14px;
  }
}


@media screen and (max-width: 650px) {
  .use-theme-bg .post-meta.alternative-meta .post-meta-item.guest-author-pu=
blication,
  .post-meta.alternative-meta .post-meta-item.guest-author-publication {
    display: none;
  }
}


@media screen and (max-width: 370px) {
  .post-meta .post-meta-item .post-meta-button {
    height: 36px !important;
  }
  .post-meta .post-meta-item .post-meta-button .meta-button-label {
    display: none;
  }
  .post-meta .post-meta-item .post-meta-button > svg {
    margin-right: 0;
  }
}


@media screen and (max-width: 370px) {
  .post-meta .post-meta-item {
    font-size: 12px;
  }
}


@media screen and (max-width: 650px) {
  .post-preview > .post-preview-content .post-preview-meta {
    margin-top: 12px 0;
  }
}


@media screen and (max-width: 650px) {
  .post-preview > .post-preview-image {
    display: none;
  }
}


@media screen and (max-width: 650px) {
  .post-preview-silhouette .post-preview-silhouette-image {
    display: none;
  }
}


@media screen and (max-width: 650px) {
  .post .floating-subscribe-button {
    bottom: 20px;
    right: 20px;
  }
}


@media all and (-ms-high-contrast: none), (-ms-high-contrast: active) {
  body .markup table.image-wrapper img,
  body .markup table.kindle-wrapper img {
    max-width: 550px;
  }
}


@media screen and (max-width: 650px) {
  body .markup div.youtube-inner div.youtube-screen,
  body .markup div.vimeo-inner div.youtube-screen {
    display: none !important;
  }
}


@media screen and (max-width: 370px) {
  body .markup div.tiktok-wrap {
    width: calc(95vw - 32px);
    height: calc((95vw - 32px - 2px) / 0.485714);
  }
}


@media screen and (max-width: 650px) {
  body .markup div.embedded-publication-wrap .embedded-publication.show-sub=
scribe {
    padding: 24px;
  }
}


@media screen and (max-width: 650px) {
  body .markup div.subscription-widget-wrap .subscription-widget.show-subsc=
ribe,
  body .markup div.captioned-button-wrap .subscription-widget.show-subscrib=
e {
    padding: 24px;
  }
}


@media screen and (max-width: 650px) {
  body .markup div.subscription-widget-wrap .subscription-widget.show-subsc=
ribe .subscription-widget-subscribe .button,
  body .markup div.captioned-button-wrap .subscription-widget.show-subscrib=
e .subscription-widget-subscribe .button {
    padding: 10px 12px;
    min-width: 110px;
  }
}


@media (max-width: 650px) {
  body .markup .tweet {
    padding: 12px;
  }
}


@media (max-width: 650px) {
  body .markup .tweet .tweet-text {
    font-size: 14px;
    line-height: 20px;
  }
}


@media (max-width: 650px) {
  body .markup .tweet .tweet-photos-container.two,
  body .markup .tweet .tweet-photos-container.three,
  body .markup .tweet .tweet-photos-container.four {
    height: 200px;
  }
}


@media (max-width: 650px) {
  body .markup .tweet a.expanded-link .expanded-link-img {
    max-height: 180px;
  }
}


@media (max-width: 650px) {
  body .markup .tweet a.expanded-link .expanded-link-description {
    display: none;
  }
}


@media screen and (max-width: 650px) {
  body .markup .apple-podcast-container {
    width: unset;
  }
}


@media (max-width: 420px) {
  body .markup .install-substack-app-embed img.install-substack-app-embed-i=
mg {
    margin: 0 auto 16px auto;
  }
}


@media screen and (min-width: 420px) and (max-width: 600px) {
  body .markup .install-substack-app-embed .install-substack-app-embed-text=
 {
    max-width: calc(100% - 100px);
    width: initial;
  }
}


@media (max-width: 420px) {
  body .markup .install-substack-app-embed .install-substack-app-embed-text=
 {
    margin: 0 0 12px 0;
    max-width: 100%;
    width: auto;
    text-align: center;
  }
}


@media (max-width: 600px) {
  body .markup .install-substack-app-embed .install-substack-app-embed-link=
 {
    margin-top: 16px;
    width: 100%;
  }
}


@media screen and (min-width: 500px) {
  body .header a.logo {
    width: 42px;
    height: 42px;
    border-radius: 8px;
  }
}


@media screen and (max-width: 420px) {
  body .subscription-receipt table:first-of-type .subscription-amount .subs=
cription-discount {
    width: 72px !important;
  }
}


@media screen and (min-width: 481px) {
  body .share-button-container {
    height: auto;
  }
}


@media screen and (max-width: 480px) {
  body .share-button-container .separator {
    display: block !important;
    margin: 0 !important;
    height: 8px !important;
    border-left: none !important;
  }
}


@media screen and (max-width: 650px) {
  .digest .item .post-meta-item.audience {
    display: none;
  }
}


@media screen and (min-width: 500px) {
  .digest-publication .logo img {
    width: 42px;
    height: 42px;
    border-radius: 4px;
  }
}


@media screen and (max-width: 650px) {
  .comments-page .container .comment-list .collapsed-reply {
    margin-left: 17px;
  }
}


@media screen and (max-width: 650px) {
  .comment > .comment-list {
    padding-left: 25px;
  }
}


@media screen and (max-width: 650px) {
  .finish-magic-login-modal .modal-content .container {
    padding: 24px 0;
  }
}


@media (max-width: 650px) {
  .reader2-text-b3 {
    line-height: 22px;
  }
}


@media screen and (max-width: 650px) {
  .reader2-text-h4 {
    line-height: 22px;
  }
}


@media screen and (min-width: 541px) {
  .user-profile-modal {
    padding-left: 12px;
    padding-right: 12px;
  }
}


@media screen and (max-width: 650px) {
  .subscribe-widget form.form .sideBySideWrap button.rightButton {
    padding: 10px 12px;
  }
}


@media screen and (min-width: 541px) {
  .pub-icon:hover .logo-hover,
  .feed-item-icon:hover .logo-hover {
    display: block;
  }
}


@media screen and (max-width: 650px) {
  .post-ufi.single-full-width-button .post-ufi-button-wrapper {
    width: 100%;
    padding: 0 16px;
  }
  .post-ufi.single-full-width-button .post-ufi-button-wrapper:empty {
    display: none;
  }
  .post-ufi.single-full-width-button .post-ufi-button {
    width: 100%;
    margin: 16px 0;
    justify-content: center;
  }
}


@media screen and (max-width: 768px) {
  .file-embed-wrapper {
    padding: 0;
  }
}


@media screen and (max-width: 768px) {
  .file-embed-wrapper-editor {
    padding: 0;
  }
}


@media screen and (max-width: 768px) {
  .file-embed-wrapper-editor:active {
    padding: 0;
  }
}


@media only screen and (max-width: 650px) {
  .file-embed-button.wide,
  .file-embed-error-button.wide {
    display: none;
  }
}


@media only screen and (min-width: 630px) {
  .file-embed-button.narrow,
  .file-embed-error-button.narrow {
    display: none;
  }
}


@media screen and (min-width: 541px) {
  .audio-player-wrapper .audio-player {
    min-width: 500px;
  }
}


@media screen and (max-width: 650px) {
  .audio-player-wrapper .audio-player .audio-player-progress {
    border-left-width: 16px;
    border-right-width: 16px;
  }
}


@media screen and (max-width: 650px) {
  .audio-player-wrapper .audio-player .audio-player-progress .audio-player-=
progress-bar .audio-player-progress-bar-popup {
    top: -54px;
  }
}


@media screen and (max-width: 650px) {
  .audio-player-wrapper-fancy .audio-player .audio-player-progress {
    border-left-width: 16px;
    border-right-width: 16px;
  }
}


@media screen and (max-width: 650px) {
  .audio-player-wrapper-fancy .audio-player .audio-player-progress .audio-p=
layer-progress-bar .audio-player-progress-bar-popup {
    top: -54px;
  }
}


@media (min-width: 250px) {
  .audio-player-wrapper-fancy .audio-player {
    padding: 32px;
  }
  .audio-player-wrapper-fancy .audio-player .btn-group {
    display: flex;
  }
  .audio-player-wrapper-fancy .audio-player .btn-group .button:last-of-type=
 {
    display: block;
  }
}


@media (min-width: 300px) {
  .audio-player-wrapper-fancy .audio-player .btn-group {
    display: block;
  }
  .audio-player-wrapper-fancy .audio-player .btn-group .button:first-of-typ=
e {
    display: block;
  }
}


@media (min-width: 350px) {
  .audio-player-wrapper-fancy .audio-player .audio-player-substack-logo {
    display: block;
  }
  .audio-player-wrapper-fancy .audio-player .audio-player-title {
    margin-top: 16px;
  }
  .audio-player-wrapper-fancy .audio-player .audio-player-hero-image-contai=
ner {
    padding-top: 15%;
    width: 15%;
    display: block;
  }
  .audio-player-wrapper-fancy .audio-player .btn-group .button:first-of-typ=
e {
    display: block;
  }
  .audio-player-wrapper-fancy .audio-player .audio-player-substack-logo {
    display: block;
  }
}


@media (min-width: 350px) {
  .audio-player-wrapper-fancy .audio-player .audio-player-hero-image-contai=
ner {
    padding-top: 25%;
    width: 25%;
    display: block;
  }
  .audio-player-wrapper-fancy .audio-player .btn-group {
    display: flex;
  }
  .audio-player-wrapper-fancy .audio-player .btn-group .button:first-of-typ=
e {
    display: block;
  }
}


@media (min-width: 400px) {
  .audio-player-wrapper-fancy .audio-player .audio-player-hero-image-contai=
ner {
    padding-top: 40%;
    width: 40%;
  }
}


@media (max-width: 400px) {
  .audio-player-wrapper-fancy .audio-player .btn-group {
    margin-top: 12px;
  }
  .audio-player-wrapper-fancy .audio-player .btn-group .button {
    font-size: 13px;
    padding: 6px 12px;
    height: auto;
    margin-top: 10px;
  }
}


@media (min-width: 600px) {
  .audio-player-wrapper-fancy .audio-player .audio-player-hero-image-contai=
ner {
    padding-top: 55%;
    width: 55%;
  }
}


@media (max-width: 650px) {
  .poll-editor-modal {
    min-width: calc(100% - 20px);
  }
}


@media (max-width: 750px) {
  .poll-embed .poll-anchor-target .poll-anchor-copy-button {
    left: 8px;
    top: 45px;
  }
}


@media screen and (min-width: 541px) {
  .poll-embed .poll-wrapper.poll-web .poll-dialog .modal-table .modal-row .=
modal-content > .container {
    width: 552px;
    padding: 26px 24px;
  }
}


@media screen and (max-width: 650px) {
  .poll-embed .poll-wrapper.poll-web .poll-dialog .modal-table .modal-row .=
modal-content > .container {
    padding: 40px 0;
  }
}


@media screen and (max-width: 650px) {
  .poll-embed .poll-wrapper.poll-web .poll-dialog .modal-row .modal-cell .m=
odal-exit-btn {
    margin-right: -20px;
  }
}
</style></head><body class=3D"email-body" style=3D"font-kerning: auto;"><im=
g src=3D"https://mailgun.substack.com/api/v1/email/open?token=3DeyJtIjoiPDI=
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5Mcuc-x9U9QmTL5Y7jpK0" alt=3D"" width=3D"1" height=3D"1" border=3D"0" style=
=3D"height:1px !important;width:1px !important;border-width:0 !important;ma=
rgin-top:0 !important;margin-bottom:0 !important;margin-right:0 !important;=
margin-left:0 !important;padding-top:0 !important;padding-bottom:0 !importa=
nt;padding-right:0 !important;padding-left:0 !important;"/><div style=3D"di=
splay:none;font-size:1px;color:#333333;line-height:1px;max-height:0px;max-w=
idth:0px;opacity:0;overflow:hidden;" class=3D"preview">The fair marks the r=
eturn of island city as Asia's art capital + TEFAF sales results and much m=
ore. &#160;&#8204;&#160;&#8204;&#160;&#8204;&#160;&#8204;&#160;&#8204;&#160=
;&#8204;&#160;&#8204;&#160;&#8204;&#160;&#8204;&#160;&#8204;&#160;&#8204;&#=
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der" style=3D"font-size: 16px; line-height: 26px;"><h1 class=3D"post-title =
published" style=3D"-moz-osx-font-smoothing: subpixel-antialiased; -webkit-=
font-smoothing: subpixel-antialiased; color: #404040; font-family: 'SF Comp=
act Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvet=
ica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Sy=
mbol'; font-size: 32px; font-weight: bold; line-height: 36px; margin: 0;"><=
a href=3D"https://substack.com/app-link/post?publication_id=3D2259&post_id=
=3D109991727&utm_source=3Dpost-email-title&isFreemail=3Dtrue&token=3DeyJ1c2=
VyX2lkIjoxMzMyNjg2NjEsInBvc3RfaWQiOjEwOTk5MTcyNywiaWF0IjoxNjc5NTIwNzAwLCJle=
HAiOjE2ODIxMTI3MDAsImlzcyI6InB1Yi0yMjU5Iiwic3ViIjoicG9zdC1yZWFjdGlvbiJ9.mZp=
NRb-sKoC5r5mQaA4LBos1YFeCg3ff_DYq3HWuT-o" style=3D"color: #404040; text-dec=
oration: none;">Art Basel Hong Kong Returns</a></h1><h3 class=3D"subtitle" =
style=3D"-moz-osx-font-smoothing: subpixel-antialiased; -webkit-font-smooth=
ing: subpixel-antialiased; color: #808080; font-family: 'SF Compact Display=
', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial,=
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-size: 18px; font-weight: normal; line-height: 24px; margin: 4px 0 0; margi=
n-top: 12px;">The fair marks the return of island city as Asia's art capita=
l + TEFAF sales results and much more.</h3><table role=3D"presentation" wid=
th=3D"100%" border=3D"0" cellspacing=3D"0" cellpadding=3D"0" class=3D"post-=
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7e46783c2?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gW=
dY" style=3D"color: #404040; font-family: 'SF Compact Text', 'SF Pro Text',=
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iv></td></tr></table></td></tr><tr><td><table role=3D"presentation" width=
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line-height: 20px; margin: 0; text-decoration: unset; text-transform: upper=
case;"><time dateTime=3D"2023-03-22T21:31:10.933Z">Mar 22</time></div></td>=
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on: none !important; white-space: nowrap;"><img src=3D"https://substackcdn.=
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ze: 16px; line-height: 26px;"><hr style=3D"background: #e0e0e0; border: non=
e; height: 1px; margin: 32px 0; padding: 0;"></div><h2 class=3D"header-with=
-anchor-widget" style=3D"-moz-osx-font-smoothing: subpixel-antialiased; -we=
bkit-font-smoothing: subpixel-antialiased; color: #404040; font-family: 'SF=
 Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, H=
elvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe =
UI Symbol'; font-size: 1.625em; font-weight: bold; line-height: 1.16em; mar=
gin: 1em 0 0.625em 0; position: relative;">In This Issue</h2><ol style=3D"m=
argin-top: 0; padding: 0;"><li style=3D"margin: 8px 0 0 32px;"><p style=3D"=
box-sizing: border-box; color: #404040; font-size: 16px; line-height: 26px;=
 margin: 0; margin-bottom: 0; padding-left: 4px;"><strong>Lot Watch: </stro=
ng><span>Phillips has Esman Estate</span></p></li><li style=3D"margin: 8px =
0 0 32px;"><p style=3D"box-sizing: border-box; color: #404040; font-size: 1=
6px; line-height: 26px; margin: 0; margin-bottom: 0; padding-left: 4px;"><s=
trong>Results: </strong><span>Bonhams surprise $1.5m Cong; Sotheby&#8217;s =
sets a Husain record; Christie&#8217;s sells Korean moon jar for $4.5m.</sp=
an></p></li><li style=3D"margin: 8px 0 0 32px;"><p style=3D"box-sizing: bor=
der-box; color: #404040; font-size: 16px; line-height: 26px; margin: 0; mar=
gin-bottom: 0; padding-left: 4px;"><strong>Notes: </strong><span>Export ban=
 for Sir Joshua Reynolds portrait extended for another quarter while UK scr=
ambles to raise &#163;50m</span></p></li><li style=3D"margin: 8px 0 0 32px;=
"><p style=3D"box-sizing: border-box; color: #404040; font-size: 16px; line=
-height: 26px; margin: 0; margin-bottom: 0; padding-left: 4px;"><strong>Let=
 the Games Begin:</strong><span> All three global auction houses will have =
their own sales facilities in Hong Kong by 2024</span></p></li><li style=3D=
"margin: 8px 0 0 32px;"><p style=3D"box-sizing: border-box; color: #404040;=
 font-size: 16px; line-height: 26px; margin: 0; margin-bottom: 0; padding-l=
eft: 4px;"><strong>Hong Kong Stands Tall in Asian Sales: </strong><span>Com=
petition from Seoul and Singapore still not a threat to Hong Kong&#8217;s s=
tature as an art sales center</span></p></li><li style=3D"margin: 8px 0 0 3=
2px;"><p style=3D"box-sizing: border-box; color: #404040; font-size: 16px; =
line-height: 26px; margin: 0; margin-bottom: 0; padding-left: 4px;"><strong=
>Art Basel Hong Kong Sales Round-Up:</strong><span> All the reported sales =
in one easy to read post</span></p></li><li style=3D"margin: 8px 0 0 32px;"=
><p style=3D"box-sizing: border-box; color: #404040; font-size: 16px; line-=
height: 26px; margin: 0; margin-bottom: 0; padding-left: 4px;"><strong>Hous=
e Proud:</strong><span> Sotheby&#8217;s Concierge holds its first live auct=
ion</span></p></li><li style=3D"margin: 8px 0 0 32px;"><p style=3D"box-sizi=
ng: border-box; color: #404040; font-size: 16px; line-height: 26px; margin:=
 0; margin-bottom: 0; padding-left: 4px;"><strong>Not TEFAFfing Around: </s=
trong><span>Dutch fair issues sales report</span></p></li></ol><div style=
=3D"font-size: 16px; line-height: 26px;"><hr style=3D"background: #e0e0e0; =
border: none; height: 1px; margin: 32px 0; padding: 0;"></div><h2 class=3D"=
header-with-anchor-widget" style=3D"-moz-osx-font-smoothing: subpixel-antia=
liased; -webkit-font-smoothing: subpixel-antialiased; color: #404040; font-=
family: 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI'=
, Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoj=
i', 'Segoe UI Symbol'; font-size: 1.625em; font-weight: bold; line-height: =
1.16em; margin: 1em 0 0.625em 0; position: relative;">Lot Watch</h2><h4 cla=
ss=3D"header-with-anchor-widget" style=3D"-moz-osx-font-smoothing: subpixel=
-antialiased; -webkit-font-smoothing: subpixel-antialiased; color: #404040;=
 font-family: 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Seg=
oe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe U=
I Emoji', 'Segoe UI Symbol'; font-size: 1.125em; font-weight: bold; line-he=
ight: 1.16em; margin: 1em 0 0.625em 0; position: relative;">Phillips Announ=
ces Esman Collection</h4><div class=3D"captioned-image-container-static" st=
yle=3D"font-size: 16px; line-height: 26px; margin: 32px auto;"><figure styl=
e=3D"margin: 0 auto; width: 100%;"><table class=3D"image-wrapper" width=3D"=
100%" border=3D"0" cellspacing=3D"0" cellpadding=3D"0" style=3D"mso-padding=
-alt: 1em 0 1.6em;"><tbody><tr><td style=3D"text-align: center;"></td><td a=
lign=3D"left" class=3D"content" width=3D"322" style=3D"text-align: center;"=
><a class=3D"image-link" target=3D"_blank" href=3D"https://substack.com/red=
irect/9dc32310-f14f-4cc4-9996-bc625a513db3?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c=
1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"align-items: center;=
 border: none; display: block; flex-direction: column; height: auto; margin=
: 0; padding: 0; position: relative; text-decoration: none; width: auto;"><=
img data-attrs=3D"{&quot;src&quot;:&quot;https://substack-post-media.s3.ama=
zonaws.com/public/images/5b575bdb-e97b-4529-abe0-697e57f2912a_322x365.jpeg&=
quot;,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&q=
uot;:365,&quot;width&quot;:322,&quot;resizeWidth&quot;:null,&quot;bytes&quo=
t;:15092,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot=
;image/jpeg&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot=
;internalRedirect&quot;:null}" alt=3D"" width=3D"322" height=3D"365" class=
=3D"" src=3D"https://substackcdn.com/image/fetch/w_322,c_limit,f_auto,q_aut=
o:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.=
com%2Fpublic%2Fimages%2F5b575bdb-e97b-4529-abe0-697e57f2912a_322x365.jpeg" =
style=3D"-ms-interpolation-mode: bicubic; border: none !important; display:=
 block; height: auto; margin: 0 auto; margin-bottom: 0; max-width: 100% !im=
portant; vertical-align: middle; width: auto !important;"></a></td><td styl=
e=3D"text-align: center;"></td></tr></tbody></table></figure></div><p style=
=3D"color: #404040; font-size: 16px; line-height: 26px; margin: 0 0 20px 0;=
"><span>Phillips will be selling the collection of Rosa and Aaron Esman. Aa=
ron was a psychoanalyst with an interest in creativity and the mind. Rosa w=
as a print publisher and a gallerist. Naturally, the collection is heavy on=
 prints, photography and other works on paper. Works by Josef Albers and Ro=
bert Rauschenberg will be included in Phillips May Evening sale, including =
Robert Rauschenberg&#8217;s </span><em>Bath</em><span> from 1964 (above) es=
timated at $400,000. </span></p><div style=3D"font-size: 16px; line-height:=
 26px;"><hr style=3D"background: #e0e0e0; border: none; height: 1px; margin=
: 32px 0; padding: 0;"></div><h2 class=3D"header-with-anchor-widget" style=
=3D"-moz-osx-font-smoothing: subpixel-antialiased; -webkit-font-smoothing: =
subpixel-antialiased; color: #404040; font-family: 'SF Compact Display', -a=
pple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans=
-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size=
: 1.625em; font-weight: bold; line-height: 1.16em; margin: 1em 0 0.625em 0;=
 position: relative;">Results</h2><ol style=3D"margin-top: 0; padding: 0;">=
<li style=3D"margin: 8px 0 0 32px;"><p style=3D"box-sizing: border-box; col=
or: #404040; font-size: 16px; line-height: 26px; margin: 0; margin-bottom: =
0; padding-left: 4px;"><strong><a href=3D"https://substack.com/redirect/b75=
1faf1-9d6f-4f02-8c34-cfa1984c0a0c?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpi=
srMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; text-decorati=
on: underline;">Bonhams sells a 5000-year-old Jade Cong for $1.5 million</a=
><span> </span></strong><span>or 50 times the estimate: The neolithic ritua=
l object was part of the J.J. Lally works offered during Asia Week in New Y=
ork.</span></p></li><li style=3D"margin: 8px 0 0 32px;"><p style=3D"box-siz=
ing: border-box; color: #404040; font-size: 16px; line-height: 26px; margin=
: 0 0 20px 0; margin-bottom: 0; padding-left: 4px;"><strong>Sotheby&#8217;s=
 Modern &amp; Contemporary South Asian =3D $6.95m</strong></p><div class=3D=
"captioned-image-container-static" style=3D"font-size: 16px; line-height: 2=
6px; margin: 32px auto;"><figure style=3D"margin: 0 auto; width: 100%;"><ta=
ble class=3D"image-wrapper" width=3D"100%" border=3D"0" cellspacing=3D"0" c=
ellpadding=3D"0" style=3D"mso-padding-alt: 1em 0 1.6em;"><tbody><tr><td sty=
le=3D"text-align: center;"></td><td align=3D"left" class=3D"content" width=
=3D"474" style=3D"text-align: center;"><a class=3D"image-link" target=3D"_b=
lank" href=3D"https://substack.com/redirect/1c864329-8d86-404c-aac7-c3b83fe=
86e4e?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" =
rel=3D"" style=3D"align-items: center; border: none; display: block; flex-d=
irection: column; height: auto; margin: 0; padding: 0; position: relative; =
text-decoration: none; width: auto;"><img data-attrs=3D"{&quot;src&quot;:&q=
uot;https://substack-post-media.s3.amazonaws.com/public/images/5798df45-0cf=
a-4078-aac2-706114d5f36c_1054x619.jpeg&quot;,&quot;fullscreen&quot;:null,&q=
uot;imageSize&quot;:null,&quot;height&quot;:619,&quot;width&quot;:1054,&quo=
t;resizeWidth&quot;:474,&quot;bytes&quot;:180810,&quot;alt&quot;:null,&quot=
;title&quot;:null,&quot;type&quot;:&quot;image/jpeg&quot;,&quot;href&quot;:=
null,&quot;belowTheFold&quot;:true,&quot;internalRedirect&quot;:null}" alt=
=3D"" width=3D"474" height=3D"278.37381404174573" class=3D"" src=3D"https:/=
/substackcdn.com/image/fetch/w_474,c_limit,f_auto,q_auto:good,fl_progressiv=
e:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimage=
s%2F5798df45-0cfa-4078-aac2-706114d5f36c_1054x619.jpeg" style=3D"-ms-interp=
olation-mode: bicubic; border: none !important; display: block; height: aut=
o; margin: 0 auto; margin-bottom: 0; max-width: 100% !important; vertical-a=
lign: middle; width: auto !important;"></a></td><td style=3D"text-align: ce=
nter;"></td></tr></tbody></table></figure></div><p style=3D"box-sizing: bor=
der-box; color: #404040; font-size: 16px; line-height: 26px; margin: 0 0 20=
px 0; margin-bottom: 0; padding-left: 4px;"><span>Forty percent of the tota=
l came from a single lot by </span><strong>M.F. Husain</strong><span>. </sp=
an><a href=3D"https://substack.com/redirect/912ac302-f9a5-4683-9d7e-6ecaa5e=
c546f?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" =
rel=3D"" style=3D"color: #404040; text-decoration: underline;">His 1961 pai=
nting </a><em><a href=3D"https://substack.com/redirect/912ac302-f9a5-4683-9=
d7e-6ecaa5ec546f?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_=
g6pp7gWdY" rel=3D"" style=3D"color: #404040; text-decoration: underline;">B=
ulls</a></em><a href=3D"https://substack.com/redirect/912ac302-f9a5-4683-9d=
7e-6ecaa5ec546f?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g=
6pp7gWdY" rel=3D"" style=3D"color: #404040; text-decoration: underline;"> w=
as offered with a $1m estimate but sold for $2.78m with fees</a><span>. Onc=
e owned by the publiser Harry Abrams, the sale is a new record for Husain, =
the Picasso of the South Asian art market, exceeding his previous high sale=
 by ~$500k. </span><strong>S.H. Raza</strong><span> saw a similar jump from=
 a lower level when </span><a href=3D"https://substack.com/redirect/292ecdb=
4-3a2b-4548-abd1-a4a1f9bfb6ac?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe=
5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; text-decoration: =
underline;">his 1951 work </a><em><a href=3D"https://substack.com/redirect/=
292ecdb4-3a2b-4548-abd1-a4a1f9bfb6ac?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQm=
MpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; text-decor=
ation: underline;">untitled (La Ville)</a></em><a href=3D"https://substack.=
com/redirect/292ecdb4-3a2b-4548-abd1-a4a1f9bfb6ac?j=3DeyJ1IjoiMjdjZXI5In0.n=
CNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #40404=
0; text-decoration: underline;"> made $533,400 against a $200k estimate</a>=
<span>. Raza&#8217;s 1952 work </span><em>Houses</em><span> made a bigger l=
eap than both to sell for $1.33m over another $200k estimate. Bidding wasn&=
#8217;t isolated to these two artists; almost two-thirds of the lots sold w=
ent for prices above the estimates. </span></p></li><li style=3D"margin: 8p=
x 0 0 32px;"><p style=3D"box-sizing: border-box; color: #404040; font-size:=
 16px; line-height: 26px; margin: 0 0 20px 0; margin-bottom: 0; padding-lef=
t: 4px;"><strong>Christie&#8217;s Japanese &amp; Korean Art =3D $11.4m</str=
ong></p><div class=3D"captioned-image-container-static" style=3D"font-size:=
 16px; line-height: 26px; margin: 32px auto;"><figure style=3D"margin: 0 au=
to; width: 100%;"><table class=3D"image-wrapper" width=3D"100%" border=3D"0=
" cellspacing=3D"0" cellpadding=3D"0" style=3D"mso-padding-alt: 1em 0 1.6em=
;"><tbody><tr><td style=3D"text-align: center;"></td><td align=3D"left" cla=
ss=3D"content" width=3D"482" style=3D"text-align: center;"><a class=3D"imag=
e-link" target=3D"_blank" href=3D"https://substack.com/redirect/74052b90-25=
7b-4a53-8147-612ff9a5f22c?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRn=
igHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"align-items: center; border: none; di=
splay: block; flex-direction: column; height: auto; margin: 0; padding: 0; =
position: relative; text-decoration: none; width: auto;"><img data-attrs=3D=
"{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public=
/images/e3f22c3d-a2ff-4047-9f33-62c71b845659_1039x623.jpeg&quot;,&quot;full=
screen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:623,&quot;w=
idth&quot;:1039,&quot;resizeWidth&quot;:482,&quot;bytes&quot;:180724,&quot;=
alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/jpeg&quo=
t;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;internalRedire=
ct&quot;:null}" alt=3D"" width=3D"482" height=3D"289.01443695861406" class=
=3D"" src=3D"https://substackcdn.com/image/fetch/w_482,c_limit,f_auto,q_aut=
o:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.=
com%2Fpublic%2Fimages%2Fe3f22c3d-a2ff-4047-9f33-62c71b845659_1039x623.jpeg"=
 style=3D"-ms-interpolation-mode: bicubic; border: none !important; display=
: block; height: auto; margin: 0 auto; margin-bottom: 0; max-width: 100% !i=
mportant; vertical-align: middle; width: auto !important;"></a></td><td sty=
le=3D"text-align: center;"></td></tr></tbody></table></figure></div><p styl=
e=3D"box-sizing: border-box; color: #404040; font-size: 16px; line-height: =
26px; margin: 0 0 20px 0; margin-bottom: 0; padding-left: 4px;"><span>A </s=
pan><strong>Hokusai</strong><span> Great Wave print estimated at $500k </sp=
an><a href=3D"https://substack.com/redirect/30fd9d1f-d2bd-412a-95c9-f5905ee=
b3044?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" =
rel=3D"" style=3D"color: #404040; text-decoration: underline;">sold for $2.=
76m in Christie&#8217;s</a><span> Japanese and Korean art sale in New York.=
 A Korean porcelain moon jar by an </span><strong><a href=3D"https://substa=
ck.com/redirect/4c09b37d-bf87-49b9-9ddd-e6c0cb5fbb86?j=3DeyJ1IjoiMjdjZXI5In=
0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #40=
4040; text-decoration: underline;">unknown artisan</a></strong><a href=3D"h=
ttps://substack.com/redirect/4c09b37d-bf87-49b9-9ddd-e6c0cb5fbb86?j=3DeyJ1I=
joiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=
=3D"color: #404040; text-decoration: underline;"> estimated at $1m sold for=
 $4.5m in the same sale</a><span>. </span></p></li><li style=3D"margin: 8px=
 0 0 32px;"><p style=3D"box-sizing: border-box; color: #404040; font-size: =
16px; line-height: 26px; margin: 0; margin-bottom: 0; padding-left: 4px;"><=
strong>Christie&#8217;s Modern British &amp; Irish Evening Sale =3D &#163;1=
9.2m: </strong><a href=3D"https://substack.com/redirect/ecb24ca4-45ec-4a51-=
a968-12a4b611e4ac?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx=
_g6pp7gWdY" rel=3D"" style=3D"color: #404040; text-decoration: underline;">=
A work on paper by </a><strong><a href=3D"https://substack.com/redirect/ecb=
24ca4-45ec-4a51-a968-12a4b611e4ac?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpi=
srMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; text-decorati=
on: underline;">Pauline Boty</a></strong><a href=3D"https://substack.com/re=
direct/ecb24ca4-45ec-4a51-a968-12a4b611e4ac?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3=
c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; tex=
t-decoration: underline;"> titled </a><em><a href=3D"https://substack.com/r=
edirect/ecb24ca4-45ec-4a51-a968-12a4b611e4ac?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM=
3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; te=
xt-decoration: underline;">Bum</a></em><a href=3D"https://substack.com/redi=
rect/ecb24ca4-45ec-4a51-a968-12a4b611e4ac?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1=
d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; text-=
decoration: underline;"> from 1966 sold for $293,837 over a $75,000 estimat=
e</a><span>. The painting of the </span><a href=3D"https://substack.com/red=
irect/71eacbf5-a8ce-4838-b86f-0e5901dc336b?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c=
1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; text=
-decoration: underline;">same image previously sold for $841,921</a><span>.=
 It was also estimated at a fraction of the final sale price. A </span><str=
ong>Ben Nicholson</strong><span> painting, </span><em>1945</em><span> (you =
can guess the date it was made), </span><a href=3D"https://substack.com/red=
irect/2275f471-5ddb-4f8b-aa6e-55e09e4eb969?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c=
1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; text=
-decoration: underline;">made $556,744 against an estimate a third of the f=
inal price.</a><span> The star lot was by Scottish Colourist </span><strong=
>John Duncan Fergusson</strong><span> whose </span><em><a href=3D"https://s=
ubstack.com/redirect/7d9a3758-f82f-4a88-9e72-707483d815a7?j=3DeyJ1IjoiMjdjZ=
XI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color=
: #404040; text-decoration: underline;">Submarines and Camouflaged Battlesh=
ips</a></em><a href=3D"https://substack.com/redirect/7d9a3758-f82f-4a88-9e7=
2-707483d815a7?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6=
pp7gWdY" rel=3D"" style=3D"color: #404040; text-decoration: underline;"> fr=
om 1918 made $1.3m over an estimate under $500,000</a><span>.</span></p></l=
i></ol><div style=3D"font-size: 16px; line-height: 26px;"><hr style=3D"back=
ground: #e0e0e0; border: none; height: 1px; margin: 32px 0; padding: 0;"></=
div><h2 class=3D"header-with-anchor-widget" style=3D"-moz-osx-font-smoothin=
g: subpixel-antialiased; -webkit-font-smoothing: subpixel-antialiased; colo=
r: #404040; font-family: 'SF Compact Display', -apple-system, BlinkMacSyste=
mFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji=
', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 1.625em; font-weight: bo=
ld; line-height: 1.16em; margin: 1em 0 0.625em 0; position: relative;">Note=
s</h2><ol style=3D"margin-top: 0; padding: 0;"><li style=3D"margin: 8px 0 0=
 32px;"><p style=3D"box-sizing: border-box; color: #404040; font-size: 16px=
; line-height: 26px; margin: 0; margin-bottom: 0; padding-left: 4px;"><stro=
ng>Export Ban for Reynolds Portrait Extended to June:</strong><span> The UK=
 government has moved the deadline to raise &#163;50m needed to acquire for=
 London&#8217;s National Portrait Gallery Sir Joshua Reynolds&#8217;s </spa=
n><em>Portrait of Omai</em><span> (1776), a work that is an important remin=
der of the long history of the presence of non-Europeans at every level of =
British society. </span><a href=3D"https://substack.com/redirect/77600133-0=
997-45e3-91f2-68d9b196f330?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iR=
nigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; text-decoration: und=
erline;">You may remember this excellent John Gapper story in the </a><em><=
a href=3D"https://substack.com/redirect/77600133-0997-45e3-91f2-68d9b196f33=
0?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=
=3D"" style=3D"color: #404040; text-decoration: underline;">Financial Times=
</a><span> </span></em><span>that covers the entire issue from every angle =
including whether the 20-year, five-fold increase in price to &#163;50m pri=
ce is justified, why Irish billionaire John Magnier is holding out and, per=
haps most important of all, why the painting is so culturally important tod=
ay. If the extension fails, the work will likely appear at auction soon aft=
er.</span></p></li></ol><div style=3D"font-size: 16px; line-height: 26px;">=
<hr style=3D"background: #e0e0e0; border: none; height: 1px; margin: 32px 0=
; padding: 0;"></div><h4 class=3D"header-with-anchor-widget" style=3D"-moz-=
osx-font-smoothing: subpixel-antialiased; -webkit-font-smoothing: subpixel-=
antialiased; color: #404040; font-family: 'SF Compact Display', -apple-syst=
em, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, '=
Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 1.125em=
; font-weight: bold; line-height: 1.16em; margin: 1em 0 0.625em 0; position=
: relative;"><a href=3D"https://substack.com/redirect/24cc7700-82fa-4317-a3=
9f-0fb575e65c84?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g=
6pp7gWdY" rel=3D"" style=3D"color: #404040; text-decoration: underline;">Ho=
w auction houses Christie&#8217;s, Sotheby&#8217;s and Phillips in Hong Kon=
g are expanding, and what it means for buyers</a><span> (SCMP)</span></h4><=
p style=3D"color: #404040; font-size: 16px; line-height: 26px; margin: 0 0 =
20px 0;"><span>Art Basel Hong Kong returned to the city in full force after=
 nearly four years of no fairs or highly constrained events. The </span><em=
>South China Morning Post</em><span>&#8217;s excellent Enid Tsui gathers to=
gether all of the relevant information about the new locations for Phillips=
, Sotheby&#8217;s and Christie&#8217;s in the Asian entrepot. Phillips chri=
stens its new HQ next week; Sotheby&#8217;s will debut in Charter House nex=
t year; and Christie&#8217;s will move into a Zaha Hadid Architects-designe=
d building in 2024.</span></p><p style=3D"color: #404040; font-size: 16px; =
line-height: 26px; margin: 0 0 20px 0;">Once the houses no longer have to c=
oordinate different weeks for sales, the Hong Kong calendar can coalesce ar=
ound common selling weeks as happens in the other auction centers of New Yo=
rk and London. Tsui checked in with Patti Wong, one of the presiding spirit=
s of the Asian art market:</p><blockquote style=3D"border-left: 4px solid #=
653366; margin: 20px 0; padding: 0;"><p style=3D"color: #404040; font-size:=
 16px; line-height: 26px; margin: 0 0 20px 0; margin-left: 20px;">Patti Won=
g, former international chairman of Sotheby&#8217;s who left the auction ho=
use after 30 years to launch her own art advisory service in January, says =
all the auction houses are indeed making substantial investments in Hong Ko=
ng. It will save them money in the long run, she says.</p></blockquote><blo=
ckquote style=3D"border-left: 4px solid #653366; margin: 20px 0; padding: 0=
;"><p style=3D"color: #404040; font-size: 16px; line-height: 26px; margin: =
0 0 20px 0; margin-left: 20px;">&#8220;In Hong Kong, the sales evolved to n=
ear art fair size. The set-up cost for temporary sales made sense when you =
only had Chinese paintings and ceramics. These days, you need hundreds of p=
eople to set them up amid escalating costs.</p></blockquote><div style=3D"f=
ont-size: 16px; line-height: 26px;"><hr style=3D"background: #e0e0e0; borde=
r: none; height: 1px; margin: 32px 0; padding: 0;"></div><h4 class=3D"heade=
r-with-anchor-widget" style=3D"-moz-osx-font-smoothing: subpixel-antialiase=
d; -webkit-font-smoothing: subpixel-antialiased; color: #404040; font-famil=
y: 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI', Rob=
oto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', '=
Segoe UI Symbol'; font-size: 1.125em; font-weight: bold; line-height: 1.16e=
m; margin: 1em 0 0.625em 0; position: relative;"><strong><a href=3D"https:/=
/substack.com/redirect/e0a1993d-a6b1-42b3-8820-340e5068094f?j=3DeyJ1IjoiMjd=
jZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"col=
or: #404040; text-decoration: underline;">As Rival Cities Rise, the Hong Ko=
ng Art Gallery Association Builds</a><span> (ARTnews)</span></strong></h4><=
p style=3D"color: #404040; font-size: 16px; line-height: 26px; margin: 0 0 =
20px 0;">Andrew Russeth flew into Hong Kong from his outpost in Seoul to fi=
le one of the more interesting reports on the Asian art capital. Among othe=
r points, he succinctly explains why Hong Kong is far from being dethroned:=
</p><blockquote style=3D"border-left: 4px solid #653366; margin: 20px 0; pa=
dding: 0;"><p style=3D"color: #404040; font-size: 16px; line-height: 26px; =
margin: 0 0 20px 0; margin-left: 20px;"><span>Journalists love a rivalry, b=
ut the truth is that Hong Kong continues to tower over its potential compet=
itors, at least when measured by dollar value. South Korea also has a large=
ly tax-free setup, and in 2022 did a </span><strong><a href=3D"https://subs=
tack.com/redirect/adc895fd-c8d3-4ee3-a0ed-21f83845d5ca?j=3DeyJ1IjoiMjdjZXI5=
In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #=
404040; text-decoration: underline;">record 1.04 trillion won (about $782 m=
illion)</a></strong><span> in total art sales, according to government stat=
istics; meanwhile, at just its spring auction in Hong Kong, Sotheby&#8217;s=
 rang up </span><strong><a href=3D"https://substack.com/redirect/b632edb1-b=
8a2-4321-a17e-47a2af9559d5?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iR=
nigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; text-decoration: und=
erline;">nearly $500 million</a></strong><span>. (For 2021, ArtPrice put Ho=
ng Kong&#8217;s total auction turnover at $1.7 billion.) The bluest of blue=
 chips continue to operate in the city, a key hub for the $13.4 billion Chi=
nese market. Over in Singapore, the VAT is going from 8 percent to 9 percen=
t next year, and at the Art SG fair there in January, &#8220;the amount of =
supply did not match the amount of demand,&#8221; Hon said. (There was more=
 of the former.)</span></p></blockquote><div style=3D"font-size: 16px; line=
-height: 26px;"><hr style=3D"background: #e0e0e0; border: none; height: 1px=
; margin: 32px 0; padding: 0;"></div><h4 class=3D"header-with-anchor-widget=
" style=3D"-moz-osx-font-smoothing: subpixel-antialiased; -webkit-font-smoo=
thing: subpixel-antialiased; color: #404040; font-family: 'SF Compact Displ=
ay', -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Helvetica, Aria=
l, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol'; fo=
nt-size: 1.125em; font-weight: bold; line-height: 1.16em; margin: 1em 0 0.6=
25em 0; position: relative;">Art Basel Hong Kong Sale Reports</h4><p style=
=3D"color: #404040; font-size: 16px; line-height: 26px; margin: 0 0 20px 0;=
"><strong>Artnet</strong><span> is first out of the gate with Frederik Balf=
our&#8217;s fair report:</span></p><p style=3D"color: #404040; font-size: 1=
6px; line-height: 26px; margin: 0 0 20px 0;"><strong>Stephen Friedman</stro=
ng><span>&#160;</span></p><p style=3D"color: #404040; font-size: 16px; line=
-height: 26px; margin: 0 0 20px 0;">Two works acquired by Asian museums:</p=
><ul style=3D"margin-top: 0; padding: 0;"><li style=3D"margin: 8px 0 0 32px=
; mso-special-format: bullet;"><p style=3D"box-sizing: border-box; color: #=
404040; font-size: 16px; line-height: 26px; margin: 0; margin-bottom: 0; pa=
dding-left: 4px;"><em>Birdcage Man</em><span> by </span><strong>Yinka Shoni=
bare</strong><span> sold for &#163;200,000 ($244,794)</span></p></li><li st=
yle=3D"margin: 8px 0 0 32px; mso-special-format: bullet;"><p style=3D"box-s=
izing: border-box; color: #404040; font-size: 16px; line-height: 26px; marg=
in: 0; margin-bottom: 0; padding-left: 4px;"><span>A </span><strong>Jeffrey=
 Gibson</strong><span> painting for $250,000</span></p></li></ul><p style=
=3D"color: #404040; font-size: 16px; line-height: 26px; margin: 0 0 20px 0;=
"><strong>David Kordansky Gallery</strong></p><ul style=3D"margin-top: 0; p=
adding: 0;"><li style=3D"margin: 8px 0 0 32px; mso-special-format: bullet;"=
><p style=3D"box-sizing: border-box; color: #404040; font-size: 16px; line-=
height: 26px; margin: 0; margin-bottom: 0; padding-left: 4px;"><span>Sold 1=
0 </span><strong>Adam Pendleton</strong><span>s to Asian clients, including=
 all eight large-scale works on Mylar for $95,000 and two small paintings o=
n canvas for $135,000. And an additional work on canvas sold at the fair fo=
r $135,000</span></p></li></ul><p style=3D"color: #404040; font-size: 16px;=
 line-height: 26px; margin: 0 0 20px 0;"><strong>David Zwirner</strong></p>=
<ul style=3D"margin-top: 0; padding: 0;"><li style=3D"margin: 8px 0 0 32px;=
 mso-special-format: bullet;"><p style=3D"box-sizing: border-box; color: #4=
04040; font-size: 16px; line-height: 26px; margin: 0; margin-bottom: 0; pad=
ding-left: 4px;"><span>Sold an oil on linen entitled </span><em>Truffaut,</=
em><span> painted by </span><strong>Elizabeth Peyton</strong><span> in 2005=
 for $2.2 million to a major Asian museum. </span></p></li></ul><p style=3D=
"color: #404040; font-size: 16px; line-height: 26px; margin: 0 0 20px 0;"><=
strong>Sadie Coles</strong></p><ul style=3D"margin-top: 0; padding: 0;"><li=
 style=3D"margin: 8px 0 0 32px; mso-special-format: bullet;"><p style=3D"bo=
x-sizing: border-box; color: #404040; font-size: 16px; line-height: 26px; m=
argin: 0; margin-bottom: 0; padding-left: 4px;">Sold a 2021 Richard Prince =
for $750,000 to a European buyer. </p></li><li style=3D"margin: 8px 0 0 32p=
x; mso-special-format: bullet;"><p style=3D"box-sizing: border-box; color: =
#404040; font-size: 16px; line-height: 26px; margin: 0; margin-bottom: 0; p=
adding-left: 4px;"><span>Five works of wash on paper by </span><strong>Isab=
ella Ducrot</strong><span> for &#8364;4,000 each.</span></p></li></ul><p st=
yle=3D"color: #404040; font-size: 16px; line-height: 26px; margin: 0 0 20px=
 0;">Balfour reports on Liu Yiqian&#8217;s fair shopping:</p><ul style=3D"m=
argin-top: 0; padding: 0;"><li style=3D"margin: 8px 0 0 32px; mso-special-f=
ormat: bullet;"><p style=3D"box-sizing: border-box; color: #404040; font-si=
ze: 16px; line-height: 26px; margin: 0; margin-bottom: 0; padding-left: 4px=
;"><strong>Jordan Wolfson</strong><span>, </span><em>Red Sculpture</em><spa=
n> (2016-2022) for $900,000 from David Zwirner</span></p></li><li style=3D"=
margin: 8px 0 0 32px; mso-special-format: bullet;"><p style=3D"box-sizing: =
border-box; color: #404040; font-size: 16px; line-height: 26px; margin: 0; =
margin-bottom: 0; padding-left: 4px;"><span>A </span><strong>Helen Marten</=
strong><span> silkscreen on multimedia from Sadie Coles HQ for $285,000</sp=
an></p></li><li style=3D"margin: 8px 0 0 32px; mso-special-format: bullet;"=
><p style=3D"box-sizing: border-box; color: #404040; font-size: 16px; line-=
height: 26px; margin: 0; margin-bottom: 0; padding-left: 4px;"><span>Two pa=
inted bronze sculptures at $350,000 each from Gladstone Gallery by </span><=
strong>Ugo Rondinone</strong><span>.</span></p></li></ul><p style=3D"color:=
 #404040; font-size: 16px; line-height: 26px; margin: 0 0 20px 0;"><a href=
=3D"https://substack.com/redirect/e2036f09-3ec0-47f4-b137-ee68d49ad0f1?j=3D=
eyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpisrMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" s=
tyle=3D"color: #404040; text-decoration: underline;">&#8216;Hong Kong Is Ro=
lling Out the Red Carpet:&#8217; Art Basel Returns With an Inflatable King =
Tut and Collectors Still Hungry for Ultra-Contemporary Art </a><span>(Artne=
t)</span></p><p style=3D"color: #404040; font-size: 16px; line-height: 26px=
; margin: 0 0 20px 0;"><strong>ARTnews</strong></p><p style=3D"color: #4040=
40; font-size: 16px; line-height: 26px; margin: 0 0 20px 0;">Angelica Villa=
 gathered these sales:</p><p style=3D"color: #404040; font-size: 16px; line=
-height: 26px; margin: 0 0 20px 0;"><strong>Hauser &amp; Wirth</strong><spa=
n> </span></p><ul style=3D"margin-top: 0; padding: 0;"><li style=3D"margin:=
 8px 0 0 32px; mso-special-format: bullet;"><p style=3D"box-sizing: border-=
box; color: #404040; font-size: 16px; line-height: 26px; margin: 0; margin-=
bottom: 0; padding-left: 4px;"><strong>George Condo</strong><span>&#8217;s =
2011 painting </span><em>Purple Compression </em><span>sold  for $4.75 mill=
ion, going to a private collection that&#8217;s based between New York and =
Hong Kong. </span></p></li><li style=3D"margin: 8px 0 0 32px; mso-special-f=
ormat: bullet;"><p style=3D"box-sizing: border-box; color: #404040; font-si=
ze: 16px; line-height: 26px; margin: 0; margin-bottom: 0; padding-left: 4px=
;"><strong>Mark Bradford</strong><span>&#8217;s large-scale abstraction </s=
pan><em>A Straight Line</em><span> sold for $3.5 million. Another by Bradfo=
rd sold from the gallery&#8217;s showcase at Frieze Los Angeles for the sam=
e price. </span></p></li><li style=3D"margin: 8px 0 0 32px; mso-special-for=
mat: bullet;"><p style=3D"box-sizing: border-box; color: #404040; font-size=
: 16px; line-height: 26px; margin: 0; margin-bottom: 0; padding-left: 4px;"=
><span>Works by </span><strong>Henry Taylor</strong><span>, </span><strong>=
Pat Steir</strong><span>, </span><strong>Ed Clark</strong><span> and </span=
><strong>Frank Bowling</strong><span> were among the others. Their works so=
ld for prices between $350,000 and $975,000.</span></p></li></ul><p style=
=3D"color: #404040; font-size: 16px; line-height: 26px; margin: 0 0 20px 0;=
"><strong>Fergus McCaffrey</strong><span> </span></p><ul style=3D"margin-to=
p: 0; padding: 0;"><li style=3D"margin: 8px 0 0 32px; mso-special-format: b=
ullet;"><p style=3D"box-sizing: border-box; color: #404040; font-size: 16px=
; line-height: 26px; margin: 0; margin-bottom: 0; padding-left: 4px;"><span=
>A 1991 red abstract painting by </span><strong>Kazuo Shiraga</strong><span=
> that came from the artist&#8217;s estate for $5 million</span></p></li></=
ul><p style=3D"color: #404040; font-size: 16px; line-height: 26px; margin: =
0 0 20px 0;"><strong>Xavier Hufkens</strong><span>&#8217;</span></p><ul sty=
le=3D"margin-top: 0; padding: 0;"><li style=3D"margin: 8px 0 0 32px; mso-sp=
ecial-format: bullet;"><p style=3D"box-sizing: border-box; color: #404040; =
font-size: 16px; line-height: 26px; margin: 0; margin-bottom: 0; padding-le=
ft: 4px;"><strong>Alice Neel</strong><span>, </span><em>Muriel Gardiner But=
tinger</em><span> (1966) sold for a price between $1 million and $1.2 milli=
on</span></p></li><li style=3D"margin: 8px 0 0 32px; mso-special-format: bu=
llet;"><p style=3D"box-sizing: border-box; color: #404040; font-size: 16px;=
 line-height: 26px; margin: 0; margin-bottom: 0; padding-left: 4px;"><span>=
Five paintings by </span><strong>Cassi Namoda</strong><span> and other scul=
ptures by </span><strong>Thomas Houseago</strong><span> and also sold. Thos=
e works went for prices ranging between $50,000 and $400,000, respectively.=
</span></p></li></ul><p style=3D"color: #404040; font-size: 16px; line-heig=
ht: 26px; margin: 0 0 20px 0;"><a href=3D"https://substack.com/redirect/259=
6c8be-8c71-435f-996e-2fce9da6bce3?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpi=
srMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"color: #404040; text-decorati=
on: underline;">Mark Bradford, Elizabeth Peyton and Kazuo Shiraga Top &#821=
6;Healthy&#8217; Sales at Art Basel Hong&#160;Kong</a><span> (ARTnews)</spa=
n></p><div style=3D"font-size: 16px; line-height: 26px;"><hr style=3D"backg=
round: #e0e0e0; border: none; height: 1px; margin: 32px 0; padding: 0;"></d=
iv><h4 class=3D"header-with-anchor-widget" style=3D"-moz-osx-font-smoothing=
: subpixel-antialiased; -webkit-font-smoothing: subpixel-antialiased; color=
: #404040; font-family: 'SF Compact Display', -apple-system, BlinkMacSystem=
Font, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji'=
, 'Segoe UI Emoji', 'Segoe UI Symbol'; font-size: 1.125em; font-weight: bol=
d; line-height: 1.16em; margin: 1em 0 0.625em 0; position: relative;"><stro=
ng>Sotheby&#8217;s Moves Concierge Real Estate Auctions to the Live Platfor=
m</strong></h4><div class=3D"captioned-image-container-static" style=3D"fon=
t-size: 16px; line-height: 26px; margin: 32px auto;"><figure style=3D"margi=
n: 0 auto; width: 100%;"><table class=3D"image-wrapper" width=3D"100%" bord=
er=3D"0" cellspacing=3D"0" cellpadding=3D"0" style=3D"mso-padding-alt: 1em =
0 1.6em;"><tbody><tr><td style=3D"text-align: center;"></td><td align=3D"le=
ft" class=3D"content" width=3D"1456" style=3D"text-align: center;"><a class=
=3D"image-link" target=3D"_blank" href=3D"https://substack.com/redirect/8a0=
3d54f-1b5b-482c-ae57-818e20924e2b?j=3DeyJ1IjoiMjdjZXI5In0.nCNhOM3c1d0jQmMpi=
srMe5iRnigHXx6Fx_g6pp7gWdY" rel=3D"" style=3D"align-items: center; border: =
none; display: block; flex-direction: column; height: auto; margin: 0; padd=
ing: 0; position: relative; text-decoration: none; width: auto;"><img data-=
attrs=3D"{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.co=
m/public/images/12e82198-8f82-425b-bdab-8c9914a220d0_2284x1282.png&quot;,&q=
uot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:817=
,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:3385=
739,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;imag=
e/png&quot;,&quot;href&quot;:&quot;https://youtu.be/204a3sh-mCU&quot;,&quot=
;belowTheFold&quot;:true,&quot;internalRedirect&quot;:null}" alt=3D"" width=
=3D"550" height=3D"308.6195054945055" class=3D"wide-image" src=3D"https://s=
ubstackcdn.com/image/fetch/w_2912,c_limit,f_auto,q_auto:good,fl_progressive=
:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages=
%2F12e82198-8f82-425b-bdab-8c9914a220d0_2284x1282.png" style=3D"-ms-interpo=
lation-mode: bicubic; border: none !important; display: block; height: auto=
; margin: 0 auto; margin-bottom: 0; max-width: 100% !important; vertical-al=
ign: middle; width: auto !important;"></a></td><td style=3D"text-align: cen=
ter;"></td></tr></tbody></table></figure></div><p style=3D"color: #404040; =
font-size: 16px; line-height: 26px; margin: 0 0 20px 0;">Sotheby&#8217;s bo=
ught Concierge real estate auctions in partnership with Realogy, who licens=
es the Sotheby&#8217;s name for its Sotheby&#8217;s International Realty br=
and, a hear and a half ago. Concierge holds online real estate auctions. Th=
is CNBC report from Robert Frank is about the first live auction held at So=
theby&#8217;s. Frank points out that much of the inventory are expensive ho=
mes where the seller has not been able to get the price they believe the pr=
operty should command. (Click on the image to watch the video)</p><div styl=
e=3D"font-size: 16px; line-height: 26px;"><hr style=3D"background: #e0e0e0;=
 border: none; height: 1px; margin: 32px 0; padding: 0;"></div><h4 class=3D=
"header-with-anchor-widget" style=3D"-moz-osx-font-smoothing: subpixel-anti=
aliased; -webkit-font-smoothing: subpixel-antialiased; color: #404040; font=
-family: 'SF Compact Display', -apple-system, BlinkMacSystemFont, 'Segoe UI=
', Roboto, Helvetica, Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emo=
ji', 'Segoe UI Symbol'; font-size: 1.125em; font-weight: bold; line-height:=
 1.16em; margin: 1em 0 0.625em 0; position: relative;">TEFAF Issues Fair Sa=
les Report</h4><p style=3D"color: #404040; font-size: 16px; line-height: 26=
px; margin: 0 0 20px 0;">The long-running TEFAF art fair in Maastricht has =
now closed which leaves the fair the task of reporting sales. Galleries are=
 notoriously difficult to pin down when it comes to sales figures. The repo=
rts are always excessively upbeat. Nevertheless, there&#8217;s value in the=
se lists. With 250 institutions facing off against 270 exhibitors, the fair=
 was a pretty even match between buyers and sellers. </p><p style=3D"color:=
 #404040; font-size: 16px; line-height: 26px; margin: 0 0 20px 0;">Here&#82=
17;s what they said:</p><p style=3D"color: #404040; font-size: 16px; line-h=
eight: 26px; margin: 0 0 20px 0;"><strong>Michael Goedhuis</strong><span> s=
old a group of Chinese contemporary paintings with a median price of $100,0=
00 and a 2nd century BC Bronze Han vase for $85,000 to an American institut=
ion and European private buyers</span></p><p style=3D"color: #404040; font-=
size: 16px; line-height: 26px; margin: 0 0 20px 0;"><strong>Ben Janssens Or=
iental Art</strong><span> sold over 40 works including a Japanese Choshitsu=
 carved lacquer screen, which is destined for a private yacht.</span></p><p=
 style=3D"color: #404040; font-size: 16px; line-height: 26px; margin: 0 0 2=
0px 0;"><strong>Sean Kelly</strong><span> sold a vast </span><strong>Kehind=
e Wiley</strong><span> painting (304cm x 216cm), </span><em>Portrait of Tar=
ek Ali Ellis and Michael Morgan </em><span>to a private collector for $950,=
000.&#160;</span></p><p style=3D"color: #404040; font-size: 16px; line-heig=
ht: 26px; margin: 0 0 20px 0;"><strong>Lisson Gallery </strong><span>sold t=
wo paintings by </span><strong>Sarah Cunningham</strong><span> to private c=
ollectors for an undisclosed sum. Other sales included a large-scale gold w=
ork by </span><strong>Olga de Amaral</strong><span>, the celebrated Colombi=
an textile and visual artist as well as works by the Chinese artist, </span=
><strong>Li Ran</strong><span> and the New York-based artist, </span><stron=
g>Jack Pierson</strong><span>.</span></p><p style=3D"color: #404040; font-s=
ize: 16px; line-height: 26px; margin: 0 0 20px 0;"><strong>Littleton &amp; =
Hennessy Asian Art</strong><span> sold the allegedly &#8216;most photograph=
ed&#8217; contemporary work. </span><em>Astronaut,</em><span> a pink onyx s=
culpture by new-media artist and pioneer of digital game art in China, </sp=
an><strong>Feng Mengbo</strong><span> was acquired by a private American co=
llector for a price in the region of &#8364;240,000.</span></p><p style=3D"=
color: #404040; font-size: 16px; line-height: 26px; margin: 0 0 20px 0;"><s=
trong>Lullo &#8226; Pampoulides</strong><span> sold </span><em>Mary Magdale=
ne Meditating on the Skull </em><span>by </span><strong>Luca Giordano</stro=
ng><span> to an undisclosed museum, a haunting </span><strong>Juana Romani<=
/strong><span> portrait </span><em>Femme au fond brun</em><span> to a priva=
te collector, and the colossal </span><em>Launch of the Argo</em><span>, pr=
esented by the 16-year-old artist, </span><strong>Jules van Biesbroek</stro=
ng><span> at the Paris Salon in 1890, also acquired by a European private c=
ollector.&#160;</span></p><p style=3D"color: #404040; font-size: 16px; line=
-height: 26px; margin: 0 0 20px 0;"><span>Rome&#8217;s </span><strong>Anton=
acci Lapiccirella Fine Art</strong><span> sold </span><em>Le Quattro Stagio=
ni </em><span>by </span><strong>Giacomo Balla</strong><span> to a private c=
ollector for an asking price of circa &#8364;1,000,000 during the preview d=
ays of the fair. Balla was the leading Italian Futurist artist. It also sol=
d </span><em>Musiciennes dans un Parc </em><span>by </span><strong>JP Berth=
on</strong><span> to an important German museum, Portrait</span><em> of Eli=
sa Baciocchi </em><span>by </span><strong>Pietro Benvenuti</strong><span> t=
o a private Italian foundation, and </span><em>Female Nude Reading </em><sp=
an>by </span><strong>Ugo Celada da Virgilio</strong><span> to a Dutch Museu=
m.</span></p><p style=3D"color: #404040; font-size: 16px; line-height: 26px=
; margin: 0 0 20px 0;"><strong>Haboldt &amp; Co</strong><span> sold two pai=
ntings by </span><strong>Rachel Ruysch</strong><span>  to a European and Am=
erican museum respectively for six-figure amounts. The director and curator=
ial team visited from the American museum on the opening day. The instituti=
on was eager to acquire a later example of Ruysch&#8217;s work to show alon=
gside an earlier work in the collection, illustrating the development of th=
is important Dutch still life artist.&#160;</span></p><div class=3D"subscri=
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