Christies’ in HK Modern & Contemporary Art Sales achieves Milestone
The Asian market was on every enthusiast’s radar this past week, following a series of highly successful Christie’s auctions spread over 6 days. Works by Zou Wou-ki, Zeng Fanzhi, Fan Lijun and Zhang Daqian drove the art spree, with sales climbing to more than usd 227 mil.
The sales were 82% sold by lot and 94% sold by value. Eighteen world auction records were achieved for a broad range of works. The art market tends to follow wealth and the greatest wealth is being created in Asia.
Eric Chang from Christies said ” The strong results from our sales over two days demonstrate art market’s move towards alignment with the global contemporary and modern art markets.
Again, a new confirmation that Asian art, in particular Chinese contemporary art is increasingly appreciated and accepted in the eyes of art collectors.