Signs of a recovery in the Asian art market? Christie’s Hong Kong

…Hong Kong

A sale of 20th century Chinese art and Asian contemporary art was held at Christie’s Hong Kong over two days from May 24.

According to Christie’s official figures, 34 items were presented at the first day’s sale, fetching a total of HK$181,657,500 (approx. 2.2 billion yen). The highest sum of HK$42,100,100 (approx. 514m yen) was paid for a 1950s painting by San Yu.

At the following day’s sale, on the 25th, 122 works were up for auction, yielding HK$41,355,250 (approx. 500m yen). The top price here was HK$3,260,000, (approx. 39.8m yen) for a 1999 painting by Liu Ye.

At a sale of modern art conducted around the same time sales were comparatively brisk, and in some quarters a positive outlook for recovery of the Asian art market is starting to emerge.

Christie’s Auction Results
http://www.christies.com/results/

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