As part of Sotheby’s inaugural “Contemporary Curated: Asia” series in Hong Kong which will take place on June 18, a work by Jean-Michel Basquiat is already receiving high expectations.
The definite highlight of the auction, Untitled (1985), features acrylic and oilstick on wood in three parts, and leads the event with a HKD 350 million ($45 million) high price estimate.
The 1985 artwork holds sentimental value for its appearance in the background of Basquiat’s New York Times Magazine February cover in its seminal year. Additionally, Sotheby’s is also selling the originals chairs from the artist’s studio that appeared in the cover shoot as a separate entity.
The Hong Kong sale was organized in collaboration with Taiwanese singer and avid art collector Jay Chou.
“I have always believed in the power of art—a medium of expression that sees no boundary or limitation,” Chou said of the curation in a statement. “My dream is that this collaboration [with Sotheby’s] will leave audiences with different ways of understanding and appreciating the art that surrounds us every day.”
Other notable works that will appear at the sale are Picasso‘s Buste d’Homme (1969) listed at a HKD 93 million ($12 million) low estimate, Richard Prince‘s Runway Nurse (2005-2006) (HKD 75 million ($9.6 million USD)), Frank Stella‘s electric acrylic painting, Untitled (1978), which is seated at a HKD 32 million ($4.1 million) low estimate, as well as Andy Warhol‘s renowned Cambell’s Soup I (1968), which arrives in a set of 10, marketed at a low estimate of HDK 4 million ($520,000).
Each work will be on display at Hong Kong’s K11 Atelier and K11 Musea from June 12 to June 18.