A popular piece of street art destroyed by Hong Kong authorities has been remade and is expected to fetch more than HK$1.5 million (US$193,517) at a Sotheby’s auction next week.
It comes as experts say the demand for “cutting edge” art is growing across the Asian market with new, younger collectors emerging.
The ceramic mosaic of 1970s US cartoon character Hong Kong Phooey — a mask-wearing dog who is an expert in kung fu — was created by high-profile French street artist Invader.
Photo: AFP
It first went up on a wall in a quiet street of Hong Kong’s upmarket Happy Valley neighborhood in January last year.
However, the artwork, which measures 1.3m by 2.1m, was taken down within weeks by Hong Kong authorities, sparking outrage from residents.
Now the French artist has recreated the mosaic — which has the character performing his signature flying kick — and it is slated to be the highlight of tomorrow’s auction.
It is slated to be sold alongside the first ever work to be auctioned in Hong Kong by British artist Tracey Emin — a turquoise neon sign that reads “Trust Me,” which is expected to fetch up to HK$350,000.
“There are some very important collectors acquiring Monet and Van Gogh, but there’s also a deep pool of new collectors trying to acquire more cutting-edge pieces,” Sotheby’s head of mid-season sales for contemporary and modern fine arts Isaure de Viel Castel told reporters.
Artists, such as Invader, are responding to this potential new market for their work by making replicas of their peices so that collectors can take them home, she said.
“We’re reaching out to new collectors here, people in their 30s or 40s who are very international,” she added.
Hong Kong has emerged as one of the world’s major auction hubs for art and wine thanks to wealthy Chinese buyers with an appetite for luxury items.
The Hong Kong government is also developing a new art and culture district on the Kowloon waterfront.
The centerpiece of the project is contemporary art museum “M+,” which is expected to have acquired a world-class collection when it opens in 2018.
However, the city authorities are also frequently criticized for failing to preserve Hong Kong’s cultural heritage.
The rapid pace of development has led to the demolition of historic buildings, and iconic graffiti scrubbed from walls.
Invader expressed deep disappointment after his art was taken down.
“Having invaded more than 60 cities around the world, I have never faced a situation where a public authority would systematically and rapidly remove the art from the streets,” the artist said in a statement published by the South China Morning Post in February last year.
“What message would you send to your citizens? What modern cultural heritage do you want to leave them?” the statement said.
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