Results: Christies Hong Kong Imperial Sale

While I am still waiting for Christie's to release consolidated sales results of the recent Hong Kong auctions, the Imperial Sales of Important Chinese Ceramics and Works of Art did well.

The sale offered 186 lots with 127 selling for a sell through rate of 68%. Of the lots sold during this particular sale, 64% of the lots sold for above the catalogs high estimate. The top selling lot was a pair of Imperial Gilt Bronze Dragon Ritual Bells (see image), estimated at $1.29 million to $1.94 million and selling for $5.85 million. The sale totaled $over $41.5 million dollars. Many mainland Chinese were bidders at this sale and the early sales this week.

Christie's stated "We are extremely pleased with the exceptional results of today's sale of Important Chinese Ceramics and Works of Art. There was fiercely competitive bidding on the phones and in a packed auction room between local and international clients. In a sale in which 64% of the lots sold over the high estimate, a new record was achieved for two previously unseen Imperial ritual bronze Dragon bells which sold for HK$45.4 million/US$5.85 million, while a rare celadonglazed tianqiuping vase, Qianlong period, from a private European collection, which sold more than 12 times the estimate. We are delighted that the market for Chinese works of art continues to go from strength to strength. We saw consistent global interest across a wide range of fine works of art including imperial ceramics, jades, furniture and lacquer among others, reflecting an enduring appreciation by collectors worldwide for rare works of exceptional quality which are attractively estimated,” says Pola Antebi, Senior Vice President, Specialist Head of the Chinese Ceramics & Works of Art Department, Christie’s.

All of the sales combined were expected to generate close to $97 million. I will try to consolidate the main sales over the next few days, or as soon as Christie's releases the totals. From a quick review, it appears the sales have been successful, although much different in scope and size from last year.