Christie's Asian Week NY Results

Christie's released the consolidated results from last weeks Asian Art sales. As I mentioned in a post a few days ago, the results looked to be around $70 million, and in fact were $70.75 million.

Christies's which had the bigger sales dominated the week with a 72% market share in New York.  The percentage of lots sold was varied among the sales ranging from a low of 56.4% with a poor percentage sold by dollars of only 49% for the Indian and South East Asian sale to high of 88% of lots sold for remaining Sackler items.  It appears the Chinese sales are still setting the market with other Asian sectors not quite as strong.

Chrisite's stated

Theow H. Tow, Deputy Chairman of Christie’s Americas and Honorary Chairman of Christie's Asia, said: “I am thrilled Christie’s finished the week with 72% market-share for Asian Art in New York. The market for Asian art, both classical and contemporary, remains extremely strong and I am delighted that we achieved an incredible total of $70.75 million, the second most valuable series of Asian Art sales at Christie's New York. The Chinese Works of Art sales alone totaled $55.5 million, the highest ever achieved for this category in New York and a milestone for Chinese art sales in the West. Throughout the week, clients eagerly competed for rare and important works with reasonable estimates. Items of superior quality and sterling provenance performed exceptionally well in all the Asian sales, especially those from Anthony Hardy, Dr. and Mrs. William L. Corbin, Property from the Arthur M. Sackler Collections, Julien Sherrier, and Jerry Lee Musselwhite. Clients from Asia continued to participate strongly, but American and European buyers were equally active, indicating a truly international and robust market.”

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