Results: Sotheby's Hong Kong

The results are in, and as expected, the numerous sales in Hong Kong at Sotheby's have shown excellent sales results.  The consolidated sales totals of over 2400 lots offered was over $256 million or HK $2 billion. This was against pre-sale estimates of close to $157 million. The six days of sales and the $256 million represented the highest total for sales in Hong Kong for Sotheby's.

Perhaps showing both the increased interest in oriental fine and decorative art, jewelery and other luxury goods, as well as an improving economy last years sales by Sotheby's sold only HK $691 million or around $90 million.

Sotheby's stated:

Speaking of the Spring 2010 Hong Kong Sale Series, Patti Wong, Sotheby's Chairman in Asia, said: “The phenomenal results achieved in Sotheby's Hong Kong Sale Series just concluded have established the highest total – just short of HK$2 billion – ever for a sale series for the company in Hong Kong. We also achieved record totals in the following collecting categories: Chinese Paintings, Jewels and Jadeite, Chinese Ceramics & Works of Art and Watches. The rarity and quality of the offerings which our unrivalled team of experts assembled across a range of categories attracted established collectors and numerous new buyers from across Asia and especially China. Their participation provoked fierce bidding which resulted in our setting many records for individual artists and objects, especially Imperial wares. This emphasizes the growing importance of Hong Kong as one of the most vibrant auction centers in the world as well Sotheby's dominance in Asia.”

Kevin Ching, CEO of Sotheby's Asia, said: "What made this sale series groundbreaking in many ways was the growing involvement and participation by Mainland Chinese, who are attracted not only by the extremely high quality of artworks on offer in a variety of categories, but also by the appeal of Sotheby's historic and global brand. These results confirm the success of our strategy of focusing on service to our clients and on expertise which sources the best from around the world in a range of categories. With our worldwide teams of experts, with our integrity and the transparency we can offer as the only publicly owned international auction house operating in Asia, Sotheby's can provide invaluable access to the world of fine art for the world's wealthy who want to compete as collectors."