Results: Christie's Asia Week

Last week I reported on the positive results at the Sotheby's Asia Week sales in New York, about the crowded auction rooms and premium prices paid for quailty items.  The group of Asian art sales totaled nearly $60 million. The stream of success continues with the releases of Christie's results from Asia Week as well.  Christie's is claiming a 73% market share, but does not really explain against what, other auction houses, Sotheby's alone, not really sure here or if it just more of an invented figure to add publicity to the success of the sale. Although the Sackler sale was still showing strength with 96% of the items selling. Most of the other sales sold below 90%, but above 60% of the offered lots.

As reported by Christie's

TOTALS $60 MILLION

73% MARKET SHARE

2ND HIGHEST TOTAL FOR CHRISTIE’S NY ASIAN ART WEEK

New York – Christie's concluded its Spring Asian Art Week with a combined total of $59,936,375 achieved over four days of sales, March 23 through 26. Featuring more than 1,000 lots, the sales drew record attendance during the previews and sales, indicating a surge of confidence among global collectors who continue to look for the best in Asian art.

Theow H. Tow, Deputy Chairman of Christie’s Americas and Honorary Chairman of Christie's Asia, said: “Our tremendous achievement this week is a clear testament to the immense strength of Asian Art, with success across all categories. Christie's sales totaled $60 million this week, the 2nd highest total for Asian Art Week at Christie's New York with a 73% market share and Chinese Works of Art totaled $40 million, the highest ever achieved at Christie's New York. We have continued to attract an international and diverse range of buyers who look for exceptional and rare works of good provenance that are attractively estimated. Our totals show that the demand continues to be strong among worldwide collectors and reinforcing market confidence as we go forward into the year.”