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Mainland buyers active at HK art auction
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Sotheby's Hong Kong's 20th Century Chinese Art Autumn Sale came to a close on Thursday. Among the most robust buyers were collectors from the Chinese mainland, who accounted for almost ten of the highest prices ever reached for Asian art works.
Chang Yu's monumental work "Lotus and Red Fish" commanded 36.5 million Hong Kong dollars, or about 4.7 million US dollars. It went to a Chinese buyer over the phone after a heated competition with five other bidders from across Asia.
That's the second highest auction price for Chang Yu achieved by Sotheby. It's also the auction record for a landscape painting by the artist for this rare masterpiece, which has been unseen by the public for over half a century.
Li Keran's Tranquil Landscape attained 7.3 million Hong Kong dollars, far exceeding the estimated price of three million to 4.5 million.
The total price achieved for the 20th century Chinese Art Auction came to more than 182 million Hong Kong dollars.
The auction offers works from classical, modern and contemporary Asian arts to jewelry, watches and wine. Experts say the sales reflect the distinctive and diverse taste of discerning Asian collectors.
A Chinese emperor's throne dating from the Qing Dynasty fetched 11 million US dollars at Sotheby's in Hong Kong. That staggering sum breaks the auction record for Chinese furniture. The "dragon" throne from the Qing Dynasty's Qianlong period had been given a presale estimate of four million US dollars. It features elaborate carvings, with a five dragon motif symbolizing the emperor. Sotheby's raked in a higher-than-expected 168 million US dollars or so in total sales for its autumn Asian sales in Hong Kong.
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