Links:
Marc Chagall - Le coq au bouquet
Estimate: HKD 12,000,000 – HKD 18,000,000
Estimate: HKD 11,000,000 – HKD 18,000,000
These (nearly identical) estimates convert to roughly USD 1.5 million - USD 2.3 million.
This market resolves to the painting which sells for a higher value at auction.
Resolution details
Example from a past auction: this painting by Gentilesch has a "price realised" of USD 982,800. This is the equivalent number I will use—whatever is displayed by the auction page.
Note that the final listed sale price typically includes the buyer's premium (and potentially other fees).
Edge cases:
If one fails to sell for any reason, it resolves to the other.
If there's a tie or they both fail to sell, both resolve at 50%.
Marc Chagall - Le coq au bouquet
Le coq au bouquet comprises much of Chagall's esteemed imagery–a still life dominated by a flowering bouquet, the rooster in profile, and a mother and child–set in the rich blue tonality favoured by the artist during this period: 'the eternal, transcendental blue reveals man's eternal longing for peace, security, eternity. It proceeds to the metaphysical realm where faith endows images with redeeming power'. (Lot essay)
Liu Ye - Painter and Model
Liu Ye is a Beijing-based contemporary Chinese painter known for his bright-hued paintings of childlike female figures, his favorite cartoon character Miffy the bunny and works inspired by Piet Mondrian. Liu Ye is part of a generation of artists who grew up during the Cultural Revolution. However, unlike most acclaimed Chinese contemporary art, his works have little political implications. Instead, he prefers to use a universal language to depict his inner world. His work has been exhibited extensively in China, Europe and the United States. (Wikipedia)