- Title: Hong Kong auction houses preview their Autumn sales
- Date: 30th September 2016
- Summary: HONG KONG, CHINA (SEPTEMBER 30, 2016) (REUTERS) VARIOUS OF ARTEFACTS AND PEOPLE AT SOTHEBY'S AUCTION PREVIEW VARIOUS OF SOTHEBY'S ASIA DEPUTY CHAIRMAN, NICHOLAS CHOW, HOLDING SEAL (SOUNDBITE) (English) SOTHEBY'S ASIA DEPUTY CHAIRMAN, NICHOLAS CHOW, SAYING: "It is absolutely, one of the - I would say - four or five greatest imperial seals ever to come on the market. It's really imperial power in the palm of your hand." VARIOUS OF "THE SUBLIME" ARTWORK BY WOU ZI-ZAO VARIOUS OF ART DISPLAYED AT PREVIEW VARIOUS OF AUSPICIOUS DIAMOND DISPLAYED IN GLASS CASE VARIOUS OF HARRY WINSTON DIAMOND NECKLACE (SOUNDBITE) (English) SOTHEBY'S EXECUTIVE OFFICER, ASIA, KEVIN CHING, SAYING: "And, if you actually also look at the economy. Some people would say, times are a little uncertain, the economy is a little unstable. But what history I think has proven, in the art world, is that the economy is not always a very, very good predictor of the art sales results. Quite often what you find is that in times of uncertainty, people will actually look at art as an alternative investment." ART ON DISPLAY IN CHRISTIE'S SHOWROOM VARIOUS OF DIAMOND EARRINGS (SOUNDBITE) (English) CHRISTIE'S MANAGING DIRECTOR, JONATHAN STONE, SAYING: "There's always strong competition. Clearly, in the Asia region we are not in a duopoly, where we are in some other regions, because there are very strong local auction houses. But I think this is purely a recognition of how far, and how quickly, the Asian art market has developed, with its hub in Hong Kong. But it has grown immensely quickly over the last decade or 15 years or so. And I think the number of auctions and the strength of the competition is a reflection of that. It's good for everybody. " VARIOUS OF MAN INSPECTING RUBY NECKLACE
- Embargoed: 15th October 2016 15:44
- Keywords: Auction Sothebys Christies Hong Kong sale art artefacts
- Location: HONG KONG, CHINA
- City: HONG KONG, CHINA
- Country: China
- Topics: Art,Arts/Culture/Entertainment
- Reuters ID: LVA00151REC7T
- Aspect Ratio: 16:9
- Story Text: Auction powerhouses Sotheby's and Christie's are going head to head in Hong Kong's art market with eye-watering lots.
An imperial seal leads Sotheby's sale, with hopes it will fetch $80 million, alongside other offerings including huge diamonds and up-and-coming Asian artists, while rival auction house Christie's is showcasing the world's largest pear-shaped pair of diamonds.
Global sales of art fell 7 percent year on year in 2015 to $63.8 billion, while sales of art in China fell by 23 percent in the same period, according to the TEFAF Art Market Report.
- Copyright Holder: REUTERS
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