Hong Kong – Hello, Mondrian by Liu Ye was the top lot at Bonhams' sale of Modern and Contemporary Art at Bonhams Hong Kong yesterday (25 November). The work achieved an impressive HK$11,652,500, against a pre-sale estimate of HK$8,000,000-12,000,000, defining Bonhams' leadership in the market of Liu Ye.

The 35-lot auction was 88% sold by lot and 98% sold by value. She is so Beautiful and Untitled – Pencil, both also by Liu Ye, sold for HK$6,252,500 and HK$1,377,500 respectively.

Asian abstraction was hotly contested: Parallel Form (Green and White) by Richard Lin (1933-2011) sold for HK$1,190,000, eclipsing its high estimate. Further notable highlights include:

• Composition by Chu Teh-Chun (1920-2014). Sold for HK$690,000. Estimate: HK$250,000-450,000.
• Work B.134 by Masaaki Yamada (1929-2010). Sold for HK$477,500. Estimate: HK$120,000-200,000.
• Work D.27 by Masaaki Yamada (1929-2010). Sold for HK$502,500. Estimate: HK$300,000-500,000.

Works by young artists also exceed expectations, Bathing 2 by Hong Kong artist Chris Huen Sin Kan (B. 1991) sold for HK$952,500, more than tripling its estimate (HK$300,000-500,000). Missing the Blue Sky by Javier Calleja (B. 1971) realised HK$165,000, over five times the estimate (HK$30,000-50,000).

Marcello Kwan, Bonhams Head of Modern and Contemporary Art Asia, commented: "This sale was tightly curated but widely successful, with prices exceeding expectation across the board. We are grateful for new and existing clients alike who showed their support – with their paddles – for great art and Bonhams' long-standing expertise. Looking ahead, 2022 will be an exciting year for Modern and Contemporary art at Bonhams, with a new programme of sales, exhibitions and events."