SOTHEBY'S AUCTION SEES $23 MILLION IN YAYOI KUSAMA'S ART SOLD IN A SINGLE EVENT
A dazzling Sotheby's evening sale in Hong Kong saw a quintet of Yayoi Kusama's creations from the past 20 years fetch an impressive $22.9 million, marking some of the highest auction prices ever for the renowned artist. Kusama's presence undoubtedly added sparkle to the dual modern and contemporary art sales, which ultimately raked in HKD $1.52 billion ($192.8 million) and set 11 new artist records.
Among the standout pieces was Kusama's 2014 bronze pumpkin sculpture, Pumpkin (L), which found a new home thanks to a phone bid of HKD $62.64 million ($7.98 million) – a new record for a sculpture by the Japanese artist. A-Pumpkin (BAGN8), a painting portraying the iconic vegetable adorned with black dots, also fared well, fetching HK$55.17 million ($7 million).
But it was My Heart is Flying to the Universe, Kusama's 2018 work reminiscent of her famous "Infinity Mirror Rooms," that stole the show. This mesmerizing mirrored box with LED lighting, featuring a face-sized hole for viewers to peer through, sold for a solid HKD $25.9 million ($3.29 million). This Sotheby's sale marked the first time such a work had ever been auctioned publicly in Asia.
At 94, Kusama's market popularity continues to soar, with some comparing her cult status to a "Kusama-industrial-complex" within the gallery and museum sphere. Currently, the M+ museum is hosting a retrospective of her work, and she is the star of a high-profile Louis Vuitton campaign.
The impressive sums fetched by Kusama's pieces during this auction offer a more vivid snapshot of the current state of the Hong Kong market than the recently released 2022 UBS Art Basel Report. Hindered by long-lasting restrictive Covid policies, sales in the region have dipped 14 percent to $11.2 billion – the lowest figure since 2009.
