Auction News Network

Asian Art Sweeps Past Estimates At Christie’s

A 13^th/14^th century Tibetan Thanga almost tripled its high estimate earlier today, when it soared to $1.76m at Christie’s auction of Indian & Southeast Asian art in New York.  At the same sale, the third of five in Christie’s Asia Week series, a 2^nd/3^rd century polychromed gray schist figure of the Teaching Buddha almost pulled off the same act, when it swept past its high estimate of $600,000 to a final price of $1.48m.

Sotheby’s Scores Big In Hong Kong

Sotheby’s had anticipated a total of $233m for its spring series of auctions in Hong Kong. As it turned out, the auction house did quite a bit better, achieving a result of $316m. Contributing to that tally was the $60m generated by its sale of Fine Chinese paintings. That was more than double the $25.6m estimate. Top seller was a pair of gold screens by Qi Baishi, “Willows At The Riverside; Begonias” (1922), which realized $9m, more than three times its $2.6m high estimate.

$5,000 Rhino Cups May Sell For $1.5m

It wasn’t a complete surprise to the collector when an expert at an Antiques Roadshow said his 5 Rhino Horn cups were truly valuable, but it’s unlikely he imagined they could fetch $1.5m at a Sotheby’s auction next week in New York.  Douglas Huber says he spent about $5,000 collecting the cups over the past 40-years.

16th Century Buddha Highlights Christie’s Asia Week

Christie’s Asia Week brings to market a number of illustrious collections, including the late dealer Doris Weiner’s trove of Indian and Asian Art. One of the week’s big highlights, however, comes from the last event in the March 22-24 series, a two-part sale devoted to Fine Chinese Ceramics and Works of Art. The star item is a massive Ming Dynasty gilt-bronze Vairocana, or Celestial Buddha, from the 16^th century. Formerly in the collection of Geraldine Rockefeller Dodge, it’s expected to sell for $2m-$3m.

Chinese Ru Bowl May Bring $10m

This Ru bowl is only about five inches in diameter but Sotheby’s thinks it could sell for $10m at its auction next month in Hong Kong. Called a “washer” bowl, it was created a thousand years ago for the Northern Song Dynasty. They think it was used it to rinse writing brushes. There are only 79 Ru ware pieces in existence. This is one of  7 still in private hands, and that may change after the April 4^th auction.

Exceptional Jade Coming To Christie’s

Christie’s expects Asian buyers to be on the line or in its New York saleroom in a couple of weeks when it offers an extraordinary collection of rarely seen jade carvings assembled by a European collector over the past 50-years.  As a spokesperson put it, the work embodies “decorative themes appreciated by the Chinese scholarly elite.”

Chinese Teapots Steam Past Estimates

Commonplace as rocketing prices at Asian art sales have become, the results at Bonhams’ recent Fine Chinese Art sales still caused a stir. A pair of teapots with iron-red Imperial Qianlong seal marks estimated at just $32,496–$48,744—a range  that reflected its lack of authentication—sold to a Chinese buyer for an astonishing $2.19m.

Christie’s Record Asia Week

Asian collectors hurled their millions at heritage artworks, with Chinese Ceramics drawing the lion’s share. Chinese works alone contributed $76.75 million. When Christie’s Asian Art Week in New York was over, fully $117 million had changed hands. It was Christie’s highest total ever for a series of Chinese art sales and almost $40 million more than the previous record.

Asia Week At Bonhams

As a phrase, “up to snuff” probably originated in the 19^th century. The practice of using snuff, however, began a good deal earlier, as evidenced by the collection of rare vintage Chinese snuff bottles that kicks off Bonhams’ Asia Week. Top seller is likely to be an unusual enameled white glass bottle made in the Imperial Palace workshops in the Qianlong period (1750-1780), estimated at $60,000-$80,000.

Update: The white snuff bottles sold for a heady $254,000, over three times its high estimate. And a rare yellow jade bottle brought in $134,000, also well above its $40,000-$60,000 estimate.

Outstanding Sales in 2010

Deep-pocketed new Asian buyers flooded the auction market, and investors sought hedges against uncertain financial instruments; bidders from Russia and other oil-rich nations made an imprint, and worldwide deep-pocketed collectors found opportunity. Together, they accounted for a lively recovery in the auction markets. Check out some highlights from our coverage during a remarkable auction year.

Chinese Ceramics & Art Sizzle In Hong Kong

Christie’s series of auctions in Hong Kong earlier today left little doubt about the vitality of the Chinese market. With a total of $146 million, the sale of Chinese Ceramics and Art was Christie’s was successful ever. Nearly three-quarters of the works sold above estimates; 27 realized prices above $1 mllion. Top seller was a pair of imperial cloisonné enamel double cranes censer from the Yongzheng period, which fetched $16.7 million.

Chinese Vase Cracks Record In Hong Kong

A Qing Dynasty vase has sold at Sotheby’s in Hong Kong for $32.9 million, a record for a Chinese work of art at auction. The buyer was Hong Kong-based collector Alice Cheng, whose winning bid was an example of what Sotheby’s Nicolas Chow described as the “monstrous” appetite of the Chinese market.

Records At Mixed Hong Kong Sale

Asian buyers dominated as Sotheby’s kicked off its week of Hong Kong sales with an auction of contemporary and modern art. “Chapter of a New Century – Birth of the People’s Republic of China II,” a painting of a baby by Chinese artist Zhang Xiaogang, led the way with a price of $6.9 million, a record for the artist.

Sotheby’s To Test Hong Kong Markets

Across a broad range of categories, including jewelry, wine, watches, art and ceramics, Sotheby’s will test the Hong Kong market in a series of auctions beginning next week. Top seller is expected to be a pair of Qing Imperial porcelain vases, the most valuable of which is expected to sell for $7.73-$10.31 million.

Chinese Art Prices Soar, Japanese Sag

The famous print collection came under the heading of the “Beres Japanese” when it was auctioned Sept.16-19, in Paris.  Compared even to 20 years ago, the results were lackluster, except for a few prints by acknowledged masters of the 1800’s.  In the same week, Christie’s held two sales of Chinese art where prices smashed all previous records.