NEW YORK—The fall Asian art sales in New York ending last week proved again that fine Chinese works are in high demand by collectors and that the Asian art field is driving the art market.
The biggest auction houses, Christie’s and Sotheby’s, brought in a combined total of over $90 million, well over both the rivals pre-sale estimates of around $30 million.
Sotheby’s reported $46 million from its three sales, while Christie’s total sales reached $44.7 million from five sales. Categories covered Japanese, Korean, Indian, Southeast Asian, and Chinese art and artifacts.
“There was global participation, reflecting a world-wide demand for the greatest objects of Asian art,” Christie’s chairman and international head of Asian art, Jonathan Stone, said in a statement.
Talking about the sector’s ongoing strength in a report before the sales, Stone told Reuters, “Christie’s sales turnover enjoyed by Asian art worldwide has more than doubled in the last five years.”
Occasionally, Asian art has even overshadowed the usually predominant impressionist and modern categories. Henry Howard-Sneyd, vice chairman of Asian art at Sotheby’s, spoke to Reuters of the clear growth of the Asian art market since 2006, especially in mainland China.
Sotheby’s boasts its Fine Chinese Ceramics and Works of Art sale results. Howard-Sneyd said the impressive $27 million sale is “a good indicator of the continuing international demand for the very best Chinese art.”
