As I mentioned last week, I have been waiting for a consolidated report from Christie's on the group of sales in Hong Kong, which ranged from contemporary art to jewelry. Unfortunaelty, the auction house has not released a full consolidated report with totals for the mulitude of sales, or at least I have not been able to located one. Bloomberg did have a short post, mentioning the following:
- $294 Million in total sales
- 2nd highest sales total in Hong Kong
- The highest quality items sold at a premium (not surprising as this is becomming a constant in todays marketplace)
- 2458 lots were offered
- 85% of the offered lots were sold
- Top lot was the 500 year-old bronze statue of the Amitayus Buddha, selling for $9 million
It is my opinion the sale was considered a success, but I also believe the expectations were probably a bit higher for this important group of sales. The Bloomberg report does state the Chineses economy has gone through some recent changes, and currency adjustments. These recent economic changes perhaps influenced Chinese art collectors making them a little more cautious than they have been in previous sales.
To read the Bloomberg report, click
HERE.
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