Dimensional Still Life, Lin Fengmian

A 1985 rust-and-orange-hued oil painting by Chinese master Zao Wou-ki fetched HK$9.6 million ($1.2 million), the top lot at a Hong Kong auction where works by established artists sold for the highest prices.

Zao’s “25-03-85” had a presale top estimate of HK$7 million, according to host Christie’s International. Works by the China-born, Paris-based artist (1920- ), known for the use of intense colors on his abstract paintings, rank among the top- selling at Hong Kong art auctions. At the November sale, Zao’s “Hommage a Tou-Fou” sold for an artist auction record of HK$45.5 million. Estimates don’t include commission.

Yesterday’s sale was the second of Christie’s four-day auction of 1,600 paintings, gems and antiques that it expects to sell for HK$750 million. The company offered 441 lots of Asian artworks yesterday, of which it sold 339 for HK$170 million. Eighteen contemporary artists, broadly defined as those born after the 1960s, set individual auction records, said Kate Malin, a Christie’s spokeswoman. Still, top dollar mostly went to works by Chinese masters, especially those deceased.

“Old paintings are good stores of value,” said Beijing- based dealer Tian Kai, who attended today’s auction. “You know these works are one-of-a-kind and of superb craftsmanship.”

Bidders competed for paintings by artists such as Lin Fengmian, Qi Baishi and Xu Beihong, driving some lots to several times their presale estimates. Several tugs of war were waged over paintings by Zao and Lin. Bidding by mainland Chinese buyers was especially strong, said Ben Kong, Christie’s head of Chinese paintings.

Buddhist Scrolls

A 1937 Buddhist-themed set of three ink-and-color scrolls, each about a meter in length, by Qi (1863-1957) and Qi Gong (1912-2005), raised HK$4.58 million. Qi Baishi was head of the Chinese Artists’ Association.

Works by other Chinese masters, such as Xiao Huirong, Li Keran, Xu and Lin, were among the most-expensive sold yesterday. Lin’s 1978 ink-and-color on paper “Lady” sold for HK$2.54 million, against its presale top estimate of HK$1 million. Among the contemporary pieces, a 1999 oil painting “Rising Sun” by Chinese artist Liu Ye (1964- ) fetched HK$3.26 million, against its presale top estimate of HK$1 million.

Malin said 93 percent of sold lots in the contemporary-art section raised prices within or above estimate.

“Estimates on many contemporary lots have been cut at this auction,” said Tian. “It encouraged competitive bidding.”

The sale continues today with the auction of gems, traditional Chinese ink paintings and calligraphy.

Christie’s charges the buyer a 25 percent commission on the first HK$400,000, 20 percent up to and including HK$8 million, and 12 percent of the remainder.