Art News

Bonhams achieves new auction highs for Chinese art sales in Hong Kong

HONG KONG.- At a time of serious economic instability around the world, the art market is often vulnerable to the wider financial pressures. Bonhams’ auctions of Chinese art in Hong Kong sent a strong message that the market for top-quality Chinese objects and paintings remains stable, and fine-quality objects presented with attractive estimates can still generate a global enthusiasm from buyers. Bonhams’ four auctions today, variously comprising snuff bottles, ceramics, jades, works of art and paintings, achieved sold percentages by value respectively of 100%, 96%, 89% and 78%, with exceptional prices paid by buyers from mainland China, Hong Kong, Taiwan, Europe and America for the best objects in the four auctions. Overall, Bonhams’ Autumn Auctions in Hong Kong achieved a new record high sold total for the company of over HK$240 million, representing an increase of nearly 15% over the record sale in