SOTHEBY’S AUTUMN 2007 SALES IN HONG KONG TOTAL HK$1.552 BILLION Today, Sotheby’s four-day Autumn series of sales (October 6-9, 2007) in Hong Kong concluded, totaling HK$1,552,412,500 (US$200,077,459)
News-Antique.com - Oct 12,2007 - SOTHEBY’S AUTUMN 2007 SALES IN
HONG KONG TOTAL HK$1.552 BILLION (US$200 MILLION)
- HIGHEST TOTAL FOR A SERIES OF SALES
AT SOTHEBY’S IN HONG KONG -
RECORDS ACHIEVED AT SOTHEBY’S HONG KONG THIS WEEK:
· RECORD SERIES OF SALES OF FINE CHINESE PAINTINGS AT SOTHEBY’S, TOTALING HK$216,505,753 (US$27,903,107)
· CHINESE CONTEMPORARY ART SALE FAR EXCEEDS HIGH ESTIMATE TOTALING RECORD HK$330/US$42.54 MILLION (RECORDS ESTABLISHED FOR CAI GUO-QIANG, YU CHEN, XU BING, LIU WEI, WANG GUANGYI AND ZHAN WANG)
· SOTHEBY’S HONG KONG SET A PER-CARAT WORLD RECORD
FOR ANY GEMSTONE AT AUCTION, WHEN A SUPERB AND EXTREMELY RARE FANCY VIVID BLUE DIAMOND RING SOLD FOR HK$61,927,500 (US$7,981,835), AN EXTRAORDINARY HK$10,252,897 (US$1,321,495) PER CARAT
· SOTHEBY’S HONG KONG ACHIEVES THE HIGHEST-EVER TOTAL FOR A SALE OF MAGNIFICENT JEWELS AND JADEITE IN ASIA
HK$316,845,000 (US$40,838,152)
· SOTHEBY’S HONG KONG SETS WORLD RECORD FOR ANY SERIES OF CHINESE CERAMICS AND WORKS OF ART SALES
TOTAL: HK$649,446,754 (US$83,109,701)
· RECORD FOR WHITE JADE AT AUCTION WHEN THE IMPERIALLY INSCRIBED ‘TAI SHANG HUANG DI’ WHITE JADE SEAL SOLD FOR:
HK$46,247,500 (US$5,918,293)
Hong Kong, Hong Kong Convention and Exhibition Centre, October 9, 2007 – Today, Sotheby’s four-day Autumn series of sales (October 6-9, 2007) in Hong Kong concluded, totaling HK$1,552,412,500 (US$200,077,459), which represents the highest-ever total for a series of sales at Sotheby’s in Hong Kong. The sales, which included over 1,100 lots of Chinese art, watches and jewellery, were estimated to realise HK$1.006-1.434 billion (US$129-173 million*.)
Patti Wong, Chairman of Sotheby’s Asia, said: “The Autumn 2007 Hong Kong auction season concluded today is the most extraordinary the Company has ever conducted in this key international centre for the art business. We established a new Sotheby’s record for a series of sales of Fine Chinese Paintings, as well as the highest total in Asia for a sale of Magnificent Jewels and Jadeite. In addition, Sotheby’s has this week achieved a new worldwide record for sales of Chinese Ceramics and Works of Art and also achieved the highest total for a sale of Chinese Contemporary Art, confirming the company’s leadership in this important new market.”
Kevin Ching, Chief Executive Officer for Sotheby’s Asia, continued: “The remarkable series of sales Sotheby’s mounted this week in Hong Kong demonstrated the company’s ability to provide service to our long-established client base both among the International and Asian Chinese community, especially in Taiwan and Hong Kong, even as we continue to see new clients from these areas entering at all levels of the market. Earlier this year, in line with the company’s worldwide strategy, we opened an office in Beijing in order to enhance the service we had been offering from our existing Shanghai office to our clients from mainland China, an increasingly important area for Sotheby’s business. And indeed, this week’s sales saw a notable increase in participants from mainland China as both buyers and underbidders across a range of categories, which resulted in totals well beyond the pre-sale estimates, particularly in the paintings areas.”
