Auction houses jockey for position in Asia

  • April 01, 2010 15:40

  • Email
A 5-carat, fancy-vivid pink diamond set by Graff Diamonds was auctioned by Christie's International in Hong Kong for HK$83.5 million ($10.8 million) on Dec. 1, 2009. Source: Christie's International via Bloomberg

The battle in Asia among the auction giants is not as much for buyers as it is for the limited supply of quality goods, including classical Chinese art, wine, jewelry, watches, and post-war Western paintings, for which an insatiable demand has arisen in mainland China.

In a bold recognition of the world's fastest-growing auction market, Sotheby's recently hoisted China's flag at the most conspicuous spot outside its New York headquarters.

Christie's said mainland Chinese clients acquired the top-price items in six of the 11 sales categories and accounted for 21 per cent of sales in its Hong Kong auctions last autumn.

Bonhams opened a representative office in Tokyo in February, targeting Japanese collectors of Chinese art, in the hope of attracting top-notch consignments.

 

Read more at Straits Times


  • Email

More News Feed Headlines

Doris Day in her swimsuit on a boat ride in Spain in the early 1950s.

Online Auction of Doris Day Estate Items Catapults to $3 Million, 10 Times Pre-Sale Low Estimate

  • Variety, for photos of Doris Day / April 6th, 2020

An online auction of memorabilia and estate items from popular mid-20th century singer and actress Doris Day fetched ...

Read More...
Lockwood de Forest (1850 - 1932), "Moon in Trailing Clouds," May 1901, oil on canvas, courtesy Sullivan Goss Gallery

Starry Nights: Visions of the Night Sky—Wildling Museum Online Exhibit Explores Nocturne Painting, Astrophotography and Light Pollution

  • ArtfixDaily / April 5th, 2020

If you're enjoying the Pink Supermoon this week, pair your lunar looking with some nocturnes in art. The Wildling ...

Read More...
TIFFANY STUDIOS, "PEONY BORDER" FLOOR LAMP, CIRCA 1910.  SOLD FOR $137,000.

Sotheby's 20th Century Design Sale Brings Record Online at $4 Million

  • ArtfixDaily / April 5th, 2020

A Sotheby’s auction last week brought a total of $4 million, the highest-ever result for an online sale of 20th ...

Read More...
Part of the Addison Gallery's "Visualizing Poetry" curriculum is Winslow Homer (1836 - 1910) The West Wind, 1891.  Dimensions: 30 in.  x 44 in.

3 Kid-Friendly Projects from Museums To Do During School Closures

  • ArtfixDaily / April 4th, 2020

Sudden homeschooling takes a lot of juggling and tech support from parents who are trying to work from home, or are ...

Read More...

ARTFIXdaily Artwire