This statement was made CEO of Christie's in Asia, Jonathan Stone, after a very successful week of trading in Hong Kong, ending with a score of $ 470 million

Source: reuters.com

Chinese art market has again confirmed its power. A series of bidding at Christie's in Hong Kong ended with a new record result: 3.65 billion HK dollars (470 million U.S. dollars). It was a six-day series of auctions of wine, precious stones, watches, china, classic art and Asian contemporary art. Total revenues significantly exceeded the estimate of 2.4 billion Hong Kong dollars, the result of the April series trade rival Sotheby's - 3,49 billion Hong Kong dollars, and own the result of Christie's after a similar series of trades last year, when the money was 2.29 billion Hong Kong dollars.

Chinese collectors were traded, more than ever, and especially actively arguing for china. Research Boston Consulting Group, the number of millionaires in China due to intensive economic growth has increased from 190,000 in 2005 to 1 million in 2011. This puts China in third place in the world in the number of millionaires: the leader, the United States, and their 5.22 million, and Japan's 1.53 million millionaires.

result of Hong Kong a week Christie's auction would be and the higher they are on sale top lot - a bowl time of Emperor Qianlong estimate: 200 million Hong Kong dollars (25,7 million dollars). This vase XVIII century, richly decorated in the same style as the vase sold for 83.2 million dollars at auction Bainbridges in London. This yet the most expensive work of Chinese art - say "goodbye", because so far unknown whether the buyer has paid the bill. Worried about the failure of auctioneers even introduced advance payment for buyers : that's at auction at Christie's in Hong Kong wishing bet on work worth over $ 1 million were required to make 1 million HK dollars (about 128,000 U.S. dollars). Estimeyty certain lots were too aggressive - experts say.

Representatives of Christie's still satisfied with the result. General Director of Christie's in Asia, Jonathan Stone (Jonathan Stone) believes that the market for Chinese art in Hong Kong will continue to grow with new collectors from mainland China and other Asian countries - such as Indonesia and South Korea.

Auction house Christie's in 2010, has sold works of art around the world for about $ 5 billion, of which 20 per cent of turnover of the Hong Kong office. New York and London still sell the lion's share of lots, but eventually their dominance may come to an end. Jonathan Stone, predicts that within 5-10 years, Hong Kong can get on a level with London and New York and even become the main platform Christie's. Well, anything can happen. It took the same Chinese art market in 2010, first place in the auction sales .

material was prepared by Maria Onuchina, AI

Sources : bloomberg.com , reuters.com , artinvestment.ru