Hong Kong sales reach record heights
- December 05, 2010 16:57
Art, jewellery, wine and Chinese antiques were snapped up by eager buyers at a series of sales in Hong Kong last week. Christie's raked in $409 million, a season record total for Hong Kong, the world's third largest auction center following New York and London.
About 80% of buyers were from China, Taiwan and Hong Kong. They paid steep prices for Asian contemporary art, ceramics---especially Qing Imperial pieces---and a 14.23-carat pink diamond that brought $23.2 million.
Top lots included a pair of 5-foot-high Qing dynasty enamel cranes that billionaire Hong Kong tycoon Joseph Lau bought for $16.7 million, a record price for cloisonne.
"Potted Chrysanthemum in a Blue and White Jardiniere," an oil painting by Chinese artist Sanyu, sold for $6.9 million, a record for the artist.
In October, Sotheby's took in $396 million in its Hong Kong sales, more than double the previous year, including $32 million for a yellow Qing vase.
Bonhams sold out Part II of the world's finest collection of important Chinese snuff bottles, the Mary and George Bloch Collection, on Nov. 23.
The sale of 155 bottles more than doubled its presale estimate making HK$54,832,000. A new auction record price of HK$9,056,000 ($1,166,497.16 USD) was raised for a glass snuff bottle.
On the mainland, Chinese auction houses have also gained momentum, including a record 4.1 billion yuan worth of art and collectibles sold at Beijing-based China Guardian last month.
Read more at wall Street Journal