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THIS WEEK IN THE ART MARKET - FRIDAY 4TH APRIL 2025




Art Market News

THE BANKER’S JOURNEY BY LINCOLN TOWNLEY OPENS AT ART WORKS GALLERY

This week saw the anticipated opening of The Banker’s Journey at Art Works Gallery in OneHolland, showcasing works by British artist Lincoln Townley. The exhibition brings visitors on a journey through the evolution of the artist’s celebrated Banker’s Collection, which celebrated its ten-year anniversary in 2024. The exhibition was not only a celebration of this anniversary, but it also marked ten-years of Art Works’ representation of Townley. Alongside the historical works, the exhibition presented new works from Townley’s La Biennale 2026 Collection, highlighting the artist’s newest developments within his artistic practice. On the opening night, there was a palpable buzz in the room as guests were immersed in the world of the financier. During the evening, Townley, who is Singapore for the opening week, shared more about his work and career in a discussion led by Marie Deneux, Artist Liaison at Art Works. The exhibition will be running until April 20 at Art Works Gallery, OneHolland.

 

Lincoln Townley with Marie Deneux, Artist Liaison at Art Works Gallery

 

WHAT SOLD AT ART BASEL HONG KONG 2025

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Art Basel Hong Kong’s opened last week for its 12th edition, held at the Hong Kong Convention and Exhibition Centre. With 240 galleries from 42 countries, the fair drew in 91,000 attendees, a significant increase from last year. Against the backdrop of uncertainty within the art market, local gallerist Pearl Lam noted that the week offered a “reassuring sign that confidence is returning.” There were a number of blue-chip sales, including Yayoi Kusama’s INFINITY-NETS [ORUPX] (2013) sold by David Zwirner for USD 3.5 million and Cove(1988/2010) by Louise Bourgeois, sold by Hauser & Wirth for USD 2 million. White Cube reported sales including Georg Baselitz’s Hannoversche Treue (2010) for USD 1.83 million and two Tracy Emin pieces titled There was so much more of me (2019) and Sex and Solitude (2025) for USD 672,000 and USD 109,900 respectively. Another highlight was Roy Lichenstein’s Water Lily Pond with Reflections (1992), sold by Thaddaeus Ropac for USD 1.5 million. Robert Rauschenberg’s Original artwork for First International Festival of Asian Film (1989) was also sold by Ropac for $200,000. Artsy share a list of other sales from the galleries presenting at Art Basel Hong Kong, from international tastemakers to regional galleries.

 

Installation view of Hauser & Wirth’s booth at Art Basel Hong Kong, 2025

 

CHRISTOPHE CHERIX TAPPED AS MOMA’S NEXT DIRECTOR

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The Museum of Modern Art in New York, have just announced Christophe Cherix as the new director, effective as of September. Cherix has been chief curator of the drawing and prints department at the museum since 2013, having joined the museum in 2007. Cherix will be replacing Glen Lowry, who has been in the director role for near thirty years. Cherix specialises in modern and contemporary art, with a focus on the 1960s and 70s, and has held previous positions including curator at the Musée d’Art et d’Histoire in Geneva. During his time at MoMA, Cherix oversaw exhibitions of artists like Marcel Broodthaers, Adrian Piper, Ed Ruscha, and Betye Saar. Museum board chair Marie-Josée Kravis has shared in a statement, “Christophe’s brilliant curatorial leadership in modern and contemporary art, deep insight and passion for MoMA’s collection, and reputation for steady stewardship stood out as indispensable qualities to meet the moment as the Museum’s next director.” Cherix has also shared his thoughts, saying, “MoMA has long been a leader in embracing new forms of expression, amplifying the voices of artists from around the globe, and engaging the broadest audiences onsite and online. As the museum approaches its centennial, my highest priority is to support its exceptional staff and ensure that their unique ability to navigate the ever-evolving present continues to thrive.”

 

Christophe Cherix

 

SLIM HONG KONG EVENING SALES AT CHRISTIE’S AND SOTHEBY’S DRAW SOLID RESULTS FOR A ‘TOUGH SEASON’

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Last week Christie’s and Sotheby’s both held their spring marquee auctions concurrently to Art Basel Hong Kong. Despite the auctions presenting less lots than last year, the auctions reached solid sell-through rates and totals that were within estimates. Due to the timing of the sales, the auction houses also noted an increase in the number of in-person bidders. Highlights of the sales included Marc Chagall’s Fleurs de printemps (La Cruche aux fleurs de printemps) (1930) at Sotheby’s, which sold at its high estimate of HKD 28 million. At Christie’s, one of the top lots was Jean-Michel Basquiat’s Sabato por la Noche (Saturday Night) (1984), which sold for its low estimate of HKD 95 million. The market for Chinese Modernists appears to have settled, having been significantly impacted by the slowdown in Chinese spending. However, the sales reached are at a much lower level than before, with works by artists like Zao Wou-Ki and Chu Teh-Chun not reaching particularly high bids at the Christie’s sales. It has been noted that there is still a lot of work ahead for the auction houses in Hong Kong, but that these spring sales have laid a solid foundation. Alex Branczik, Chairman and Head of Modern and Contemporary Art, shared, “It was a tough season to gather, you can only sell what you get, but Hong Kong is back.”

 

Adrien Meyer leading Christie's 20th/21st century evening sale in Hong Kong on 28 March

 

KOJI KAMOJI: DON’T LET UNNECESSARY OVERSHADOW THE WHOLE

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WATARI-UM, the Watari Museum of Contemporary Art in Tokyo, is opening Koji Kamoji: Don’t Let the Unnecessary Overshadow the Whole on April 8. The exhibition will be the artist’s first solo exhibition in Japan and will provide insight into his practice and artistic journey. Kamoji was born in Tokyo in 1935, but having been influenced by his uncle, Ryōchū Umeda, a translator of Polish literature, Kamoji moved to Warsaw to complete his studies at the Academy of Fine Arts. He is considered one of the most prominent artists who shaped Polish post-war art since the 1960s, with the majority of his exhibitions held in Poland. The exhibition at WATARI-UM is a retrospective for the different periods of his career. An aspect of Kamoji’s practice lies within the artist’s unique background, blending the traditions of Western and Polish contemporary art with Japanese culture and influences. Kamoji’s practice is also heavily rooted in postwar movements such as conceptualism, minimalism, and new abstraction. Kamoji has shared, “I am not particularly interested in form; what interests me is being—more precisely, the feeling of being. I believe that form is the result of my search for and expression of the feeling of being. In this sense, although the form of my artistic expression may change, the core of my work remains the same. This applies to all forms of my work-painting, installation, performance, and so on. For me, the most important thing is being—the experience of being. In a state of deep concentration, being takes on a clearer form, and that is what I try to capture. Being itself has no form; we assign form and colour to it in order to see it, to make it visible. My works take different forms, but like a compass, they all point in one direction—the direction of being. I think this has remained unchanged from the very beginning to this day.”

 

 

Koji Kamoji, Martwa natura (Still life), 2003 (2013) 

 




Published on April 4, 2025
Jordan Tan

Jordan Tan holds an MA in History of Art from the prestigious Courtauld Institute of Art. With a passion for fine art and the art market, Jordan plays a key role at Art Works by researching and interpreting trends across the primary and secondary markets, delivering valuable insights and business intelligence for the fine art department.

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