拍賣筆記 vol.320 蘇富比香港2026預告：估價400-800萬港元，唐三彩十二生肖馬俑，埃斯肯納齊 - Sotheby’s HK May 2026, Tang Sancai Zodiac Horse Figure, Tang Dynasty, Estimate 4-8m HKD

這件唐三彩十二生肖馬俑（午馬）是唐代（618–907年）極為罕見的三彩陶俑精品，即將於2026年5月在蘇富比香港中國藝術專場上拍，估價400–800萬港元。作品長期珍藏於國際頂級古董商埃斯肯納齊（Giuseppe Eskenazi）畫廊，被視為其經典代表作之一，充分展現唐代三彩工藝的巔峰水準：馬首造型精湛生動、人身著官服跪姿、釉色黃綠褐交融瑩潤，高度約22.2 cm。

此俑刊載於《A Dealer’s Hand: The Chinese Art World Through the Eyes of Giuseppe Eskenazi》（倫敦，2012；中譯本《中國藝術品經眼錄：埃斯肯納齊的回憶》，上海，2015年及2017年再版，圖235），在國際中國藝術界享有崇高地位。唐代三彩生肖俑極稀有，完整十二件成組更屬鳳毛麟角，此件無論單獨陪葬或組套，皆以敏感造型與 luminous glazing 脫穎而出。

相較大陸私人博物館所藏類似生肖俑（真偽與品相多有爭議，品質普遍遜色），此件保存極佳、來源清晰。此件器物曾經一度叫價將近2000萬港元，此次上拍，值得關注。

唐三彩十二生肖馬俑

A Superb and Extremely Rare Sancai Zodiac Horse Figure

Tang Dynasty (618–907)

To be offered at Sotheby’s Hong Kong Chinese Art auction in May 2026, estimate HK$4,000,000–8,000,000.

This iconic piece, long held in the legendary collection of Giuseppe Eskenazi, represents one of the finest examples of Tang sancai craftsmanship: crisply modelled horse head atop a kneeling human body in official robes, with luminous yellow, green and amber glazes, height approx. 22.2 cm. Published in A Dealer’s Hand: The Chinese Art World Through the Eyes of Giuseppe Eskenazi (London, 2012; Chinese edition, Shanghai, 2015 & 2017 reprint, fig. 235), it holds classic status in the international Chinese art world.

Tang sancai zodiac figures are exceedingly rare; complete sets of twelve are virtually unknown, and this horse stands out for its extraordinarily sensitive modelling and exceptional glaze quality unmatched by other known examples. Compared to similar zodiac figures in some mainland private museums (authenticity and condition often debated, quality far inferior), this piece boasts impeccable preservation and clear provenance.

Based on past Eskenazi-handled top-tier Tang sancai results, adjusted for inflation, current market enthusiasm and the symbolic Year of the Horse (2026), the realistic hammer price is likely in the HK$15–20 million range—significantly exceeding the published estimate

FAQ 中英文常見問題解答

Q1: 這件馬俑的官方估價是多少？實際可能成交多少？ A1: 蘇富比官方估價為400–800萬港元。私人洽談的價格一直在2000萬港元左右。

Q1 : What is the official estimate, and what is the realistic price range? A1: Sotheby’s published estimate is HK$4–8 million. Private Sale price is around 20m HKD.

Q2: 為什麼說這件是埃斯肯納齊畫廊的經典作品？ A2: 此俑長期由埃斯肯納齊珍藏，並刊載於其回憶錄圖235，代表畫廊最高水準唐三彩藏品。其造型敏感、釉色光澤無與倫比，在唐代生肖俑中品質頂尖。

Q2  Why is this considered a classic from Eskenazi? A2: It was a long-term highlight in Giuseppe Eskenazi’s collection and is illustrated as fig. 235 in his memoir. The exceptional sensitive modelling and luminous glazing make it unmatched among known Tang zodiac figures.

Q3: 唐代三彩生肖俑有多罕見？大陸有類似藏品嗎？ A3: 唐三彩生肖俑極稀有，完整十二件組幾乎不存在。此件品質遠超大陸部分私人博物館藏品（後者真偽、品相常有爭議，工藝與保存均遜色）。

Q3 : How rare are Tang sancai zodiac figures? Are there similar pieces in mainland collections? A3: Extremely rare—full sets of twelve are virtually unknown. This example surpasses most mainland private museum holdings, where authenticity, condition and quality are often questioned and inferior.

Q4: 為什麼2026年上拍特別有意義？ A4: 2026年為丙午馬年，此午馬俑象徵馬的忠誠、力量與奔騰精神，在馬年登場極具象徵性與收藏吸引力。

Q4: Why is the timing in 2026 especially meaningful? A4: 2026 is the Year of the Horse (Bingwu). As a zodiac horse figure, it carries strong symbolic resonance of loyalty, power and momentum—perfect for collectors in the Year of the Horse.