For example, Phillips sold Sean Scully’s Wall of Light Green, 2013, on May 28, 2017 for HK$10. 9 million (US$1. 4 million), far above an estimate range between HK$3. 2 million and HK$5. 5 million. A day earlier Christie’s sold Scully’s Hiddensee, 1985, for HK$4. 5 million, above an estimate range between HK$2. 8 million and HK$3. 5 million. From nothing three years ago, Phillips now has a staff of about 50 in Hong Kong (mostly alumni from Christie’s and Sotheby’s, he says), with another 10 spread around the region. The firm has grown from “a family operation to a small size corporation, ” Crockett says in an interview at Phillips Hong Kong offices in the St. George’s building in the heart of the city, next to the Mandarin. Later this month, Phillips, with headquarters in New York and London, will mark another first by holding both day and evening sales at the Mandarin Oriental, a luxury hotel in Central, Hong Kong. The evening sale on Sunday, Nov. 25, will focus solely on 20th century and contemporary art, while the day sale on Monday, Nov. 26, will include design, editions, and photographs.
The trade war started by the Trump administration is technically on pause. But the Biden administration has continued to protest China’s economic policies and impose tariffs on Chinese goods, signaling no thaw in trade relations. In response, China may extend its campaign of economic sanctions. Australia seems to have calculated that Beijing has little interest in improving relations. At the same time, China has moved aggressively to secure locations for outposts and missiles, building up its presence on islands that it constructed in the South China Sea. Security analysts believe that Australia would be likely to use nuclear-powered submarines in order to patrol the essential shipping lanes presently there, in waters furthermore claimed by Vietnam, the Philippines plus Malaysia.
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