Under the hammer: Fab Four auction sales (May 2025)
Four sensational lots that captured the imagination at auction include a dazzling alexandrite ring, a masterpiece by Jean-Michel Basquiat, a beautiful dragon vase, and a Declaration of Independence print.
Alexandrinte Allure
Dazzling a packed auction house in New York into a flurry of bids, a stunning 16.53-carat alexandrite ring was snapped up by telephone for a sensational US$1.92 million (HK$14.9 million). Such was the intense interest in this gorgeous gem that the final asking price was almost five times the pre-auction low estimate and set a new auction record for alexandrite. It represents the astronomical sum of US$116,152 per carat.
Set in a ring embellished with round and baguette diamonds, the oval-shaped alexandrite was certified as classic Brazilian in origin with no indications of treatment. Its AGL (American Gemological Laboratories) report came with a letter attesting to the rarity and quality of the stone, while a separate Gübelin document vouched for its high degree of transparency and distinctive colour-changing effect.
The chameleon-like properties of alexandrites – first unearthed in Russia in the early 19th century and named after Tsar Alexender II – are undoubtedly part of their appeal. They shift from green in daylight to reddish-purple under incandescent light.
Saturday Special
A masterpiece by Jean-Michel Basquiat stole the show at auction during Hong Kong Art Week in March, going for a small fortune. The sale of Sabado por la Noche (Saturday Night), a complex composition laid down in 1984, had been highly anticipated and a swift series of bids for the prized lot raised the price to a mighty HK$112.6 million (US$14.5 million). The work thus lived up to its billing as the most valuable to be presented at auction in Asia during the spring sales.
Striking in format and visually arresting with its rich colours and multi-layered structure, the painting reflects Basquiat’s signature style, immediately catching the eye with its vibrant imagery. On a canvas of magenta, yellow and emerald-green hues, an intricate pattern of strokes outlines the shape of two griots. These are oral storytellers in the West African tradition. Born in New York of Haitian and Puerto Rican descent, the neo-expressionist was himself considered to be a griot. A spokesperson for the auction house commented that it was an honour to bring a work of such quality to the Asian market, and the result underscored the sustained regional demand for blue-chip Western masterpieces.
Double Glaze
A spectacular blue-and-white and copper-red ‘dragon’ vase from the Qianlong period caused tremendous excitement when it hit the auction block at Bonhams’ New York this spring. The top lot sold for US$3.69 million (HK$28.62 million), more than six times its high estimate. This mammoth price came after an intense bidding war for a delicate piece of Chinese cultural heritage.
Standing at a height of 55.2 centimetres, the object of desire is a tianqiuping (celestial sphere) vase, characterised by its globular body and elegant waisted cylindrical neck. In this particular instance, it sports rare and eye-catching dragon-and-cloud decoration. Fired in the Jingdezhen kilns, the vessel depicts three muscular three-claw dragons in prized red underglaze seemingly floating in the clouds as they fight over a ‘flaming pearl’. The only other similar vase known to Chinese porcelain aficionados resides in the Palace Museum in Beijing.
The auction house’s recent Chinese Ceramics and Works of Art series also included an exceptional carved celadon-glazed bottle vase from the Yongzheng period decorated with two phoenix and a chilong (hornless dragon), which fetched US$1.75 million.
Borth of USA
A rare and highly significant printing of the Declaration of Independence changed hands for US$2.4 million at auction in New York. Known as the Exeter Broadside, it is one of only 10 still in existence from a total of 13 sheets published by Robert Luist Fowle in July 1776. While attaining the third highest price ever paid for a copy of this historic document at auction, this recent sale still falls far short of the record for a Declaration of Independence broadside, set at US$8.1 million in June 2000 for an edition by the official Congress printer John Dunlap.
Regarded as the founding document of the United States of America, the Declaration of Independence is held up as the defining moment in the history of the country. It lists a litany of grievances against the British crown as justification for the bid to free the-then 13 colonies from Britain’s control. The Declaration was issued on 4 July 1776 following an intense three-day debate at the Continental Congress.
A spokesperson for the auction house declared that this rare printing of the Declaration signified a cornerstone of US history and captures the bold spirit of a nation in its infancy.
