One hundred twenty-five exceptional works from Japan’s Okada Museum achieved a white-glove sale at Sotheby’s Hong Kong, attracting intense bidding and selling in their entirety. The auction not only marked a significant milestone for the collection but also enabled the museum’s founder, Kazuo Okada, to ease a long-standing financial burden. Works by masters such as Hokusai and Utamaro reached record-breaking prices.
All 125 works offered by Japan’s Okada Museum found buyers at Sotheby’s Hong Kong last Saturday. The auction achieved complete success, with total sales—excluding fees—reaching $88 million, setting new auction records for both Kitagawa Utamaro and Katsushika Hokusai. Sotheby’s had previously estimated the collection at over $50 million.
Utamaro and Hokusai Steal the Night
The most sought-after works of the sale belonged to Utamaro and Hokusai. Utamaro’s Fukagawa in Snow, created in the early 19th century, sold for $7.1 million to a Japanese collector after intense bidding. Hokusai’s iconic The Great Wave off the Coast of Kanagawa shattered expectations, fetching $2.8 million—nearly triple its estimate. The eight-minute bidding battle, with more than 20 offers, once again demonstrated the enduring appeal of the artist’s famed Thirty-Six Views of Mount Fuji series.
Of the 125 lots, 19 exceeded $1.2 million. The Ya Yi fanglei, a significant relic from the Shang dynasty, sold for $4.9 million. A Qing dynasty “bajixiang” vase, decorated using the rare doucai technique—where colorful enamels are fired over blue-and-white outlines—fetched $4.3 million. A celadon-glazed bottle vase with a lotus mouth from the Yongzheng period drew attention with its $3.9 million price.
Behind the scenes, however, lay Kazuo Okada’s protracted legal saga. Once a partner of Wynn Resorts founder Steve Wynn, Okada became embroiled in billion-dollar disputes and lawsuits after their split. Although a $2.6 billion settlement was reached in 2018, a $50 million legal bill delivered to Okada by his law firm, Bartlit Beck, became a new financial burden. To pay off the debt, Okada put the museum’s prized artworks on the block.
One hundred twenty-five exceptional works from Japan’s Okada Museum achieved a white-glove sale at Sotheby’s Hong Kong, attracting intense bidding and selling in their entirety. The auction not only marked a significant milestone for the collection but also enabled the museum’s founder, Kazuo Okada, to ease a long-standing financial burden. Works by masters such as Hokusai and Utamaro reached record-breaking prices.
All 125 works offered by Japan’s Okada Museum found buyers at Sotheby’s Hong Kong last Saturday. The auction achieved complete success, with total sales—excluding fees—reaching $88 million, setting new auction records for both Kitagawa Utamaro and Katsushika Hokusai. Sotheby’s had previously estimated the collection at over $50 million.
Utamaro and Hokusai Steal the Night
The most sought-after works of the sale belonged to Utamaro and Hokusai. Utamaro’s Fukagawa in Snow, created in the early 19th century, sold for $7.1 million to a Japanese collector after intense bidding. Hokusai’s iconic The Great Wave off the Coast of Kanagawa shattered expectations, fetching $2.8 million—nearly triple its estimate. The eight-minute bidding battle, with more than 20 offers, once again demonstrated the enduring appeal of the artist’s famed Thirty-Six Views of Mount Fuji series.
Of the 125 lots, 19 exceeded $1.2 million. The Ya Yi fanglei, a significant relic from the Shang dynasty, sold for $4.9 million. A Qing dynasty “bajixiang” vase, decorated using the rare doucai technique—where colorful enamels are fired over blue-and-white outlines—fetched $4.3 million. A celadon-glazed bottle vase with a lotus mouth from the Yongzheng period drew attention with its $3.9 million price.
Behind the scenes, however, lay Kazuo Okada’s protracted legal saga. Once a partner of Wynn Resorts founder Steve Wynn, Okada became embroiled in billion-dollar disputes and lawsuits after their split. Although a $2.6 billion settlement was reached in 2018, a $50 million legal bill delivered to Okada by his law firm, Bartlit Beck, became a new financial burden. To pay off the debt, Okada put the museum’s prized artworks on the block.
