33 lots of the Japanese designer’s collection sold for almost HK$220m
A KAWS painting inspired by The Simpsons sold for HK$115.96m at Sotheby’s in Hong Kong
The Value reports that Sotheyby’s Hong Kong auctioned off a KAWS painting belonging to Japanese designer NIGO for HK$115.96m.
Titled ‘The KAWS Album’, the artwork was inspired by animated TV series The Simpsons and The Beatles Sgt Pepper’s Lonely Hearts Club Band album cover.
Sold for HK$115.96m, the KAWS piece was bought at over 14 times its original estimate of HK$6,000,000 – 8,000,000.
NIGO, the founder of A Bathing Ape (BAPE) sold all 33 lots of his artworks at Sotheby’s NIGOLDENEYE® Vol. 1 event for almost HK$220m.
The crowd at Sotheby’s comprised of a younger generation, according to Bloomberg.
“The auction room suddenly got a lot hipper, with all these cool millennial buyers in hoodies,” said Edie Hu, art advisory specialist at Citi Private Bank in Hong Kong. “Their tastes are very different from their parents, and Sotheby’s is tapping into that.”
However, despite ‘The KAWS Album’ setting a new record for the New York artist, some were not surprised by the sales figures.
“I am not surprised by the demand, but I am surprised by the final number,” said Max Dolgicer, a KAWS New York collector. “It’s a very fast-moving market.”
Two pairs of sneakers designed by KAWS for BAPE also sold for HK$106,250 (estimated at HK$500 – 800). Meanwhile an Astro Boy inspired figure estimated at HK$600,000 – 800,000 was eventually sold for HK$3,000,000.
