In Christie’s Hong Kong auction on 31 May was auctioned this Imperial Buddha sculpture "Amitayus" for the equivalent of 7.4 million €. (Picture: Christie’s)
LONDON. Super prices in Hong auctions sat in amazement and experts who are familiar with the financial power of the collector from the Far East. There was a maximum limit for traditional and modern art. Contemporary Chinese Art climbs quickly back to the level before the financial and economic crisis. Also from the same kind of Hong Kong art fair, held fast sales were reported. Nevertheless, the old Chinese craft remains the crown of the Far East market.
Christie’s played with a total turnover of the equivalent of € 240 million – one of the second highest in history – 94 percent of the total annual turnover of 2009. When falling stock and land prices in China, the picky collector, made remained in the top area of no effect. Only the album with eight landscapes of the Ming artist Shitao was appraised at twelve million euros too high.
Christie’s evening auction with only 36 lots of selected Chinese Contemporary and Modern Art was auctioned for 31 million euros without reduction. Top lots was Yifeis’s "String Quartet". The picture painted in 1986, almost a classic, brought the equivalent of € 6.4 million an artist record. A picture from Zang Fanzhis "Mask Series", bought three years ago by Hollywood producer Lawrence Schiller for 500 000 U.S. dollars, was sold for five times to an Asian collector – the equivalent of the price was € 2.1 million.
Handicraft making, unlike in the West, still larger revenues than the modern easel painting. The London plot Littleton & Hennessy offered € 7.4 million, three times the estimate for a 57 cm large gilded bronze figure of the Buddhist deity Amitayus. A work of the Ming period. A pair of "Famille Rose" china bowl with Päoniendekor – by the mark in the period of Yongzhen Emperor (1723-1735) dates – was taken from an American collection and tripled by the Chinese private bid estimate to 2.3 million euros. Sensational was a collection of rhinoceros horn carvings, which was estimated at 3.2 million € and brought 25 million euros.
The Topzuschlag on the London art dealer shows what distinguishes the ancient Chinese art in particular: it is collected for centuries everywhere in the world. Although Chinese state now the sound, try to keep up with Western collectors still. Also why was the success of Snuff Bottles of Mary and George Bloch Collection at Bonham’s not surprising.
Now even the Chinese Snuff Bottles to tear
The highly decorated small vials were previously reserved for the West, a collection area. Now they were introduced by auction in Hong Kong in the China market. They too are now among the few categories of art that are truly global demand, in the west and east.
The 141 bottles of the first auction were estimated at € 2 million, but took nearly 7 million euros – even this auction was sold at 100 percent. A 4 cm vials with glaze painting from the period of the Qianlong Emperor quadrupled the estimate of 972 500 euros – a price that comparisons with porcelain prices for Meissen or Sevres makes null and void. Expert Julian King spoke of "a new purchasing power in the world market for imperial art, the entire pricing structure for the finest pieces of change."