Art News

Booming Asian art market shows signs of stalling

HONG KONG (AP).- An uneven set of results from Sotheby’s autumn Hong Kong sales that wrapped up Thursday indicates that the surging Asian art market is pausing for breath amid rocky times for financial assets such as stocks. A 15th century Meiping vase sold on Wednesday for Hong Kong $168.7 million ($21.7 million), a world record for Ming dynasty porcelain, after intense bidding by telephone that drew applause from the crowd in the auction room. But other results from the auction of a highly anticipated collection of imperial Chinese porcelain were mixed. Another highlight, an 18th century Qianlong era vase decorated with peaches, fetched $90.3 million ($5.5 million), near the low end of the pre-sale estimate. While the auction room was crowded with bidders from mainland China and the British auctioneer switched between English and Chinese as he called out prices, a fifth of the 41 pieces failed to sell. The sale