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From Hong Kong To Frieze

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Like the fashion world, the auction business moves seasonally, sometimes weekly, around the globe. Last week’s most heated action was in Hong Kong, where over the course of 16 separate sessions Sotheby’s sold a staggering $538m worth of art, wine, jewelry and ceramics, including the record $23.1m a buyer paid for Zeng Fanzhi’s “The Last Supper.” This week the focus shifts to London, and the multiple sales surrounding the 11th annual Frieze Week art fair. Kicking off the major action was Gerhard Richter’s “White,” an oil from 1988 that sold for $3.9m  at Phillips Contemporary Art event on Tuesday evening.

Another likely highlight of the week is expected  to be “Cops,” a collaboration between Andy Warhol and Jean-Michel Basquiat. The work, which fused Warhol’s pop art with Basquiat’s graffiti impulse, may realize as much as $2.8m at Christie’s Postwar & Contemporary Art sale on October 18-19.  Yet another candidate for a high price is Spanish sculptor Juan Munoz’s “Conversation Piece,” composed of life-sized figures. Sotheby’s estimate for the work is $3.2m-$4.8m at its Contemporary Art sale on October 17-18.


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