Total sales: HK$ billion

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1 Press release Hong Kong 3 October 2017 Media Enquiries Carol Lo carol@suttonpr.com Jessica Chen jchen@polyauction.com.hk Fatima Lam flam@polyauction.com.hk Poly Auction Hong Kong Fifth Anniversary Autumn Auctions Ended on a High Note Achieved Record Breaking Auction Results in Five Years Total sales: HK$ billion Chinese Ceramics and Works of Art reached a total sale of HK$ 427 million, with Pure and Solemn an important private collection of Yongle Imperial Buddhist Sculpture resulting in a White Glove Sale and reaching a total sale of HK$ 324 million: a gilt bronze figure of Vajrabhairava - Yamantaka sold for HK$ 132,160,000; Chinese Gold from Mr. Guy Ullens Collection: A set of Gold crown and Ornaments sold for HK$ 17,700,000 Chinese Paintings Department a total sale of HK$ 670 million, 13 pieces of works in the Glossiness of Uncarved Jade - Special Auction of Cui Ruzhuo [IX] achieved an auction price of over HK$ 100 million, achieved a total sale of HK$ 472 million Modern and Contemporary Art Department reached a total sale of HK$ 280 million: Zao Wou-Ki s sold for HK$ 61,360,000; Jean-Michel Basquiat s Untitled sold for HK$ 44,250,000 Jewels and Prestige Collections reached a total sale of HK$ 430 million, a Magnificent 8.26 Carat Fancy Intense Blue Diamond and Diamond Ring sold for HK$ 120,360,000; The Vintage Moutai, Cognac, Whisky and Fine Wine section s total sale achieved three times of that in the Spring Autumn 2017 Poly Auction Hong Kong s Autumn Auction in 2017 ended on a high note, with a total sale reached HK$ billion, making it the best single auction in the last five year and marking an even more remarkable anniversary. The Chinese Paintings Department reached a total sale of HK$ 670 million, the Glossiness of Uncarved Jade - Special Auction of Cui Ruzhuo [Ⅸ] reached a total sale of HK$ 472 million; Modern and Contemporary Art reached a total sale of HK$ 280 million: Chinese Ceramics and Works of Art reached a total sale of HK$ 427 million, with Pure and Solemn an important private collection of Yongle Imperial Buddhist Sculpture resulting in a White Glove Sale and thus reaching a total sale of HK$ 324 million; the Jewels and Prestige Collections reached a total sale of HK$ 430 million, and the Whisky and Fine Wine section reached a total sale of HK$ 31,660,000. Managing Director of Poly Auction Hong Kong, Alex Chang Yi-Hsiu said: With the fifth anniversary of Poly Auction Hong Kong clocking up tremendous results, we have also shattered the sales record from any single auctions in the last five years. The outcome from the fifth anniversary leaves an important legacy for Poly Auction Hong Kong, acting as a testament of the effort and commitment from our team members in the last five years. Once again, this marks an important milestone as well as a crucial moment for the Asian art market. Poly Auction Hong Kong will actively further develop in depth and breadth, whether it is broadening the range of sales, collaborations or territories expansion. By building on the company s current 1

2 internal and external structures, Poly Auction Hong Kong will also pursue for more diversified developments in order to provide collectors with a brand new vision. Highlighted Sold Lots Chinese Ceramics and Works of Art Total sale: HK$ 427 million The special sale Pure and Solemn an important private collection of Yongle Imperial Buddhist Sculpture at the fifth anniversary of Poly Auction Hong Kong with 11 gild bronze Yongle Imperial statutes has generated a total sale of HK$ 324 million, resulting in an impressive White Glove sale. This remarkable result puts the demand for Yongle Buddhist Sculptures at its highest point after an 11-year hiatus from the art market. This special sale is one of the most comprehensive presentations of Yongle statues with over half of the lots sold over a hundred million Hong Kong Dollar as well as surpassing their upper estimates. In particular, A gilt bronze figure of Vajrabhairava Yamantaka was sold for HK$ 132,160,000, A gilt bronze figure of Chakrasamvara was realized at HK$ 62,540,000, A gilt bronze figure of Kapaladhara Hevajra was sold at HK$ 55,460,000. These three lots not only have an elegant and regal quality, an unparalleled gild bronze sculpture craftsmanship, but also it also serves as a prime historical testament of Yongle Emperor s ruling of Tibet, carrying important artistic and historical values for other relics of the same period. The outstanding results from this auction speaks volumes about the artistic and historical significance of these Yongle sculptures. As they are being rediscovered and reexamined, their significance are being swiftly revived in the art market. In the meantime, it also reflects Poly Auction Hong Kong s meticulous ethos, precise vision and large collector base, which has gained the trust and the appreciation of many supporters over the last five years. Poly Auction Hong Kong will strive to obtain even greater results in the art market. Renowned collector Baron Guy Ullens once again collaborated with Poly Auction and presented The Important Chinese Gold from Mr. Guy Ullens Collection, showcasing over ten pieces of important antique Chinese gold wares. A set of gold crown and ornaments from the Northern Wei Dynasty sold for HK$ 17,700,000. In the Chinese Ceramics and Works of Art, a Fine and Rare Large Blue-and-White Hexagonal Vase from the Qianlong Period was sold for HK$ 14,160,000 and a Rare and Magnificent Archaic Bronze Wine Vessel, JIA from the Shang Dynasty was sold for HK$ 16,520,000. Modern and Contemporary Art Total sale: HK$ 280 million In the fifth anniversary Autumn Auctions, Modern and Contemporary Art presented Western masterpiece for the first time, offering Jean-Michel Basquiat s Untitled which was sold for HK$ 44,250,000; a large work by Chinese-French master Zao Wou-Ki, which was shown in the public for the first time was sold for HK$ 61,360,000, making it the highest selling price work in this section; Wu Guanzhong s The Great Fall of Tanzania is one of the most significant works painted by the artist in such a large size in the 1970s, which was sold for HK$ 53,690,000; the artist s Guilin created in 1991 was sold for HK$ 17,700,000 while his Beyond the Horizon, created in 1998, was sold for HK$ 12,980,000; Yayoi Kusama s Pumpkin was realized at HK$ 13,570,000, making it the highest selling price ever of the artist s sculpture; in the Classic Painting section, Zhang Chongren s largest painting Spring Herd was sold for four times its lower estimate at HK$ 4,130,000, and set a new auction record for the artist. Modern and Contemporary Art reached a total sale of HK$ 280 million. 2

3 Chinese Paintings Total sale: HK$ 670 million The Chinese Paintings Department reached a total sale of HK$ 670 million; lots exceeding a million Hong Kong Dollar include Looking Up to the Towering Mountain, a large scale painting created by Fu Baoshi in 1962 which was sold for HK$ 59,000,000; Eight Horses Galloping created by Xu Beihong in 1946, with inscription written by renowned poet Guo Muoruo, was sold for HK$ 16,520,000; Wall created by Wu Guanzhong portraying the white wall in Jiangnan was sold at HK$ 15,340,000; and Wang Fu s historically significant art work, Old Trees, was sold at HK$ 12,036,000. Glossiness of Uncarved Jade Special Auction of Cui Ruzhuo [IX] The themed-session Glossiness of Uncarved Jade - Special Auction of Cui Ruzhuo [IX] reached a total sale of HK$ 472 million, with 13 pieces of work sold over a million Hong Kong dollar. Notably, a huge piece Sound of the Lotus, stands at 7.5 square meters large with the lotuses of various shapes shaded by leaves depicted with jimo technique. On the other side, a boulder stands erect sharply contrasting with the swaying lotus leaves, contrasting with the swaying lotus leaves. The lot had multiple vigorous bids and was finally sold at HK$ 177 million; Snow in the Mountain was sold at HK$ 56,640,000 and Summer Scenery was sold at HK$ 47,200,000. Jewels and Prestige Collection Total sale: HK$ 430 million Jewels and Prestige Collection unveiled an impressive variety of supreme-level jewels including splendid jadeite, luxurious and outstanding watches including rare vintages, desirable limited Hermes handbags and precious collection-level whisky, introducing an extraordinary feast celebrating remarkable artistic creations. The Magnificent Jewel special sale obtained outstanding results, with 7 exquisite pieces of jewelries accruing a total sale for over a hundred million Hong Kong Dollars. A Magnificent 8.26 Carat Fancy Intense Blue Diamond and Diamond Ring was realized at HK$ 120,360,000; An Extraordinary Set of 'Imperial Green' Jadeite Cabochon and Diamond Jewelry Necklace and Earring Set composed of 12 oval jadeite cabochons of intense green mounted 18K gold as well as 32 graduated oval-shaped diamonds, was sold for HK$ 70,800,000; A Highly Impressive Jadeite Bead and Diamond Necklace made with 29 jadeite beads of old-mine emerald green color, was realized at HK$ 47,200,000; An Extraordinary Suite of Colombian Emerald and Diamond Jewelry, containing emeralds weighing carats altogether, was sold for HK$ 21,830,000; An Impressive Carat Fancy Vivid Yellow Diamond Ring fetched HK$ 18,290,000; A 1.03 Carat Fancy Purplish Red and Carat D/If Type Iia Diamond and Diamond Pendant Necklace was realized at HK$15,340,000; An Exceptional Jadeite 'Ruyi Treasure Bowl' Pendant, weighing carats, was sold for HK$14,160,000. The Vintage Moutai, Cognac, Whisky and Fine Wine auction reported a total sale over HK$ 316,600,000, tripling the sales from the Spring Auction held earlier this year. For its fifth anniversary, Poly Auction Hong Kong launched a special sale of vintage spirits from the Moutai cellar in collaboration with Moutai Beijing, Moutai Hong Kong as well as with Kweichow Moutai Ltd., three of which were sold for over HK$ 1 million. 3

Noble Handbags and Accessories selected the rarest handbags globally for collectors.

2016, A Rare Matte White Himalayan Niloticus Crocodile Retourne Kelly 25 With Palladium Hardware was sold for HK$ 885,000.

Power Reserve and Torque Indication was sold for HK$2,832,000; Roger Dubuis A Very Impressive And Special Rose Gold Sculpted Knights Automatic Wristwatch With

To download hi-res images of the top selling lots, please click here: https://suttonpr.egnyte.

4 A set of 60 bottles from the Kweichow Moutai Spirit s Gold Wheel Brand, Domestically Sold in (Cotton Paper Local State-Run) was realized at HK$ 2,194,800. The Gold Wheel brand produced between 1983 and 1986 was sold domestically, hence the inscription Local State-Run at the lower right hand corner of the labels as it has been commonly referred to as. Local State-Run Moutai spirit is distinctive from other Moutai spirits produced in 1987 in its labels. Noble Handbags and Accessories selected the rarest handbags globally for collectors. Hermès, 2015, An Extraordinary Shiny Black Porosus Crocodile Diamond Birkin 30 With 18K White Gold And Diamond Hardware was sold for HK$ 1,062,000 and Hermès 2016, A Rare Matte White Himalayan Niloticus Crocodile Retourne Kelly 25 With Palladium Hardware was sold for HK$ 885,000. In the Important Watches section, Richard Mille An Extremely Fine And Rare White Gold Tonneau-Shaped Split Seconds Chronograph Tourbillon Wristwatch with 60 Hours Power Reserve and Torque Indication was sold for HK$2,832,000; Roger Dubuis A Very Impressive And Special Rose Gold Sculpted Knights Automatic Wristwatch With Black Jade Dial, Inspired By The Legend Of King Arthur was sold for HK$ 2,419,000. To download hi-res images of the top selling lots, please click here: Highlights from Each Sale Pure and Solemn an important private collection of Yongle Imperial Buddhist Sculpture A gilt bronze figure of Vajrabhairava Yamantaka Sold: HK$132,160,000 Pure and Solemn an important private collection of Yongle Imperial Buddhist Sculpture A gilt bronze figure of Chakrasamvara Sold: HK$62,540,000 Pure and Solemn an important private collection of Yongle Imperial Buddhist Sculpture A gilt bronze figure of Kapaladhara Hevajra Sold: HK$55,460,000 The Important Chinese Gold from Mr. Guy Ullens Collection Chinese Ceramics and Works of Art 4 Chinese Ceramics and Works of Art

A set of gold crown and ornaments from the Northern Wei

Blue-and-White Hexagonal Vase from the Qianlong Period

Wine Vessel, JIA from the Shang Dynasty Sold: HK$16,520,000

Modern and Contemporary Art Jean-Michel Basquiat, Untitled

59 Wu Guanzhong, The Great Fall of Tanzania Sold: HK$

Modern and Contemporary Art Wu Guanzhong, Guilin Sold: HK$

12,980,000 Yayoi Kusama, Pumpkin Sold: HK$ 13,570,000 New

Classics Chinese Paintings Chinese Paintings Zhang

record for the artist Fu Baoshi, Looking up to the Towering

5 A set of gold crown and ornaments from the Northern Wei Dynasty Sold: HK$17,700,000 A Fine and Rare Large Blue-and-White Hexagonal Vase from the Qianlong Period Sold: HK$14,160,000 A Rare and Magnificent Archaic Bronze Wine Vessel, JIA from the Shang Dynasty Sold: HK$16,520,000 Modern and Contemporary Art Modern and Contemporary Art Modern and Contemporary Art Jean-Michel Basquiat, Untitled Zao Wou-Ki, Wu Guanzhong, The Great Fall of Tanzania Sold: HK$ 44,250,000 Sold: HK$ 61,360,000 Sold: HK$ 53,690,000 Modern and Contemporary Art Modern and Contemporary Art Modern and Contemporary Art Wu Guanzhong, Guilin Sold: HK$ 17,700,000 Wu Guanzhong, Beyond the Horizon Sold: HK$ 12,980,000 Yayoi Kusama, Pumpkin Sold: HK$ 13,570,000 New auction record for sculptures by the artist Return of the Classics Chinese Paintings Chinese Paintings Zhang Chongren, Spring Herd Sold: HK$ 4,130,000 New auction record for the artist Fu Baoshi, Looking up to the Towering Mountain Sold: HK$59,000,000 Xu Beihong, Eight Horses Galloping Sold: HK$16,520,000 5

Chinese Paintings Chinese Paintings Glossiness of

Guanzhong, Wall Sold: HK$15,340,000 Wang Fu, Old Trees

HK$177,000,000 Glossiness of Uncarved Jade Special

Mountain Sold: HK$56,640,000 Glossiness of Uncarved

Summer Scenery Sold: HK$47,200,000 Magnificent Jewels A

26 Carat Fancy Intense Blue Diamond and Diamond Ring

Jewels Magnificent Jewels A Highly Impressive Jadeite

Extraordinary Set of 'Imperial Green' Jadeite Cabochon

6 Chinese Paintings Chinese Paintings Glossiness of Uncarved Jade Special Auction of Cui Ruhuo [IX] Wu Guanzhong, Wall Sold: HK$15,340,000 Wang Fu, Old Trees Sold: HK$12,036,000 Cui Ruzhuo, Sound of Lotus Sold: HK$177,000,000 Glossiness of Uncarved Jade Special Auction of Cui Ruhuo [IX] Cui Ruzhuo, Snow in the Mountain Sold: HK$56,640,000 Glossiness of Uncarved Jade Special Auction of Cui Ruhuo [IX] Cui Ruzhuo, Summer Scenery Sold: HK$47,200,000 Magnificent Jewels A Magnificent 8.26 Carat Fancy Intense Blue Diamond and Diamond Ring Sold: HK$120,360,000 Magnificent Jewels Magnificent Jewels Magnificent Jewels A Highly Impressive Jadeite Bead and Diamond Necklace Sold: HK$47,200,000 An Extraordinary Set of 'Imperial Green' Jadeite Cabochon and Diamond Jewelry Necklace and Earring Set Sold: HK$70,800,000 An Extraordinary Suite of Colombian Emerald and Diamond Jewelry Sold: HK$21,830,000 6

Karuizawa X, Kawasaki - Time Slip Hanyu 14 - Bar Keller #1702 Kawasaki 33-1980 #6165 Hanyu X Chichibu Double Distilleries Sold: HK$ 708,000 Noble Handbags and

Handbags and Accessories Important Watches Important Watches Hermès 2016, A Rare Matte White Himalayan Niloticus Crocodile Retourne Kelly 25 With Palladium

Reserve And Torque Indication Sold: HK$2,832,000 Roger Dubuis A Very Impressive And Special Rose Gold Sculpted Knights Automatic Wristwatch With Black Jade

Hong Kong), established in 2012 by Poly Culture Group Corp. Ltd., is a young but remarkable auction house in Hong Kong and the Asia Pacific region.

7 Vintage Moutai, Cognac, Whisky and Fine Wine Kweichow Moutai Spirit s Gold Wheel Brand, Domestically Sold in (Cotton Paper Local State-Run) Sold: HK$2,194,800 Vintage Moutai, Cognac, Whisky and Fine Wine Lot: A set of Whiskey Karuizawa 16 - Geisha #3681 Karuizawa #5022 Karuizawa 4 Decades Karuizawa X, Kawasaki - Time Slip Hanyu 14 - Bar Keller #1702 Kawasaki #6165 Hanyu X Chichibu Double Distilleries Sold: HK$ 708,000 Noble Handbags and Accessories Hermès, 2015, An Extraordinary Shiny Black Porosus Crocodile Diamond Birkin 30 With 18K White Gold And Diamond Hardware Sold: HK$1,062,000 Noble Handbags and Accessories Important Watches Important Watches Hermès 2016, A Rare Matte White Himalayan Niloticus Crocodile Retourne Kelly 25 With Palladium Hardware Sold: HK$885,000 Richard Mille An Extremely Fine And Rare White Gold Tonneau-Shaped Split Seconds Chronograph Tourbillon Wristwatch With 60 Hours Power Reserve And Torque Indication Sold: HK$2,832,000 Roger Dubuis A Very Impressive And Special Rose Gold Sculpted Knights Automatic Wristwatch With Black Jade Dial, Inspired By The Legend Of King Arthur Sold: HK$2,419,000 Note to the Editor About Poly Auction Hong Kong Poly Auction (Hong Kong) Limited (Poly Auction Hong Kong), established in 2012 by Poly Culture Group Corp. Ltd., is a young but remarkable auction house in Hong Kong and the Asia Pacific region. Beijing Poly International Auction, a subsidiary of Poly Culture Group Corp Ltd., is China s largest state-owned auction house and holds the highest auction transaction volume of Chinese art in the world. 7

8 Poly Auction Hong Kong has repeatedly achieved record auction results over the past two years, and the 2016 Spring and Autumn Auctions witnessed a total transaction sum of HK$2.4 billion. The 2017 Spring Auctions also ended on a high note of HK$1.245 billion. Poly Auction (Hong Kong) comprises of four departments: Modern and Contemporary Art, Chinese Paintings and Calligraphy, Chinese Ceramics and Works of Art, and Jewels and Prestige Collections. We select only genuine, exquisite and rare artwork. We are entering the international art market with the aim to provide professional consultation, exceptional collections and the highest quality service. Poly Auction has a global network of offices, including Hong Kong, Beijing, Shanghai, Macao, Xiamen, Shandong, Taipei, Tokyo, New York, San Francisco, Los Angeles, Sydney and Melbourne. Follow Poly Auction Hong Kong: Official Website: WeChat account: polyauction hongkong Facebook: Poly Auction Hong Kong Instagram: polyauctionhk 8

SOTHEBY S HONG KONG AUTUMN SALES 2010 TO BE HELD IN OCTOBER LOTS ESTIMATED IN EXCESS OF HK$1.6 BILLION (US$20

SOTHEBY S HONG KONG AUTUMN SALES 2010 TO BE HELD IN OCTOBER LOTS ESTIMATED IN EXCESS OF HK$1.6 BILLION (US$20 Press Release ease Hong Kong For Immediate Release Hong Kong Winnie Tang +852 2822 8129 winnie.tang@sothebys.com WT Fu +852 2822 8146 wt.fu@sothebys.com Carmen Ting +852 2822 8140 carmen.ting@sothebys.com