{"id":6470,"date":"2010-10-10T05:10:51","date_gmt":"2010-10-10T05:10:51","guid":{"rendered":""},"modified":"2010-10-10T05:10:24","modified_gmt":"2010-10-10T05:10:24","slug":"Sotheby-s-breaks-Asian-art-sales-record-in-Hong-Kong","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=6470","title":{"rendered":"Sotheby’s breaks Asian art sales record in Hong Kong"},"content":{"rendered":"

Global auction house Sotheby’s<\/strong> notched up its best ever sales tally for an Asian auction series<\/strong> in Hong Kong on Friday, selling HK$3.08 billion ($400 million) worth of Asian art, jewelry, wine and watches<\/strong>.<\/p>\n

The strong results for the biannual auctions, widely seen as a barometer for the Chinese and Asian art markets, underscored surging demand from affluent mainland Chinese buyers for top tier Chinese imperial treasures and ceramics<\/strong>, though results were mixed and relatively flat for objects of lesser quality.<\/p>\n

The $400 million tally exceeded Sotheby’s annual takings for both its Asian sales in 2009 when parts of the Chinese art market<\/strong> were lashed by the financial crisis and buyers stayed away.<\/p>\n

“What we saw was just that desperate, desperate hunger for objects of great quality,” said Kevin Ching, the CEO of Sotheby’s Asia in a Reuters interview. “It’s a very delicate chemistry between the collectors’ desires and the outstanding quality of the objects available. There was a growing realization that outstanding objects are in very short supply.”<\/p>\n

Half of the top lots were bought by mainland Chinese.<\/strong><\/p>\n

Above: Zhang Xiaogang\u2019s (b.1958) early masterpiece Chapter of a New Century \u2013 Birth of the People\u2019s Republic of China II. Est. HK$21\u201323 million \/ US$2.69\u20132.94 million. Photo: Sotheby’s. <\/em><\/p>\n

via reuters<\/em>
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