Christie's Bumper Auction Results In Hong Kong Highlight Asian Wealth

Chrissy Coleman Hong Kong 4 December 2012

Christie's Bumper Auction Results In Hong Kong Highlight Asian Wealth

Christmas has come early for Christie’s successful bidders, and for the auctioneer itself, which achieved over $333.8million in total at Hong Kong sales last month, another indicator of Asia’s wealth.

The abundance of money available for this market was palpable at the recent Hong Kong Convention Centre, where art-, jewellery-, watch- and wine- lovers alike congregated, seeking to outspend each other for investments of passion.

“The momentum initiated at Christie’s auctions earlier this month in New York and Geneva has carried here to Hong Kong, sending a message to the market as the year of the Dragon comes to an end. The past 6 days and 13 sales at Christie’s Hong Kong were characterized by diversity and strong but not speculative prices,” said François Curiel, president of Christie’s Asia.

Top lots of the auction included: an imperial “falangcai” enameled glass brush pot from the Qing Dynasty (1726-1795); a Burmese ruby (62.64cts) and diamond necklace by James W. Cureens for Faidee; a Patek Philippe “Star Calibre 2000” pocket watch; and two cases of Romanée-Conti, Vintage 2005, which sold for $6,331,954; $5,169,842; $3,281,410; and $219,712 respectively.

Crowning the sales charts was an item from the Asian 20th century and contemporary art collection, which achieved a combined sales total of over $87million; “La forêt blanche II”  by Chu Teh-Chun sold for close to $8million, setting a world auction record for the artist.

 “These figures dispel any doubt that the Chinese and Asian markets remain vibrant and strong, with active buyers and major collectors from the region participating at high levels. The quality of works offered consolidates the role of Hong Kong as a leading auction centre that attracts a global audience competing for the best works available,” Curiel continued.

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