Christie's Hong Kong Autumn 2008 Sales realized HK$1.13 billion/US$146 million /£99 million/Euro 113 million
• Continued demand for the rarest and the best despite economic challenges
• Records and strong prices across categories indicate liquidity in the art market
• 44% of total lots sold over the high estimate
• Positive results and global participation reaffirms Hong Kong as Asia's centre for the art business
Christie's concluded its five-day series of
sales at the Hong Kong Convention & Exhibition Center with a total
of HK$1.13 billion/US$146 million /£99 million/Euro 113 million.
Despite challenges in the economic climate, Christie's Hong Kong sales
recorded strong interest in rare works with impeccable provenance both
from private collectors and trade from around the world. With 44% of
the total lots sold over the high estimate, and records achieved across
categories, including wine, Chinese 20th Century art and Chinese works
of art, the sales indicate that liquidity and demand remain potent in
the art market.
“Our Hong Kong sales this year have shown a
resilience in the face of global economic challenges. At our Asian
art, wine, jewellery and watch sales, the demand for the rarest and the
best resulted in records being broken across collecting categories.
With 44% of our lots selling above high estimates, it is encouraging to
see a strong level of liquidity and interest among Asian and
international buyers who continue to look for opportunities to acquire
great works that rarely come to market.
Asia presents important opportunities, and we
believe the results from our Hong Kong sales show that the Asian art
market continues to be one of the key drivers of Christie's growth in
the future.” said Edward Dolman, Chief Executive Officer, Christie's.
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