Great Results From Christie’s Hong Kong Southeast Asian Modern & Contemporary Art Sale

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HONG KONG.- Christie’s Hong Kong Fall 2010 Sale of Southeast Asian Modern & Contemporary Art on 29 November realised HK$56,738,250/ US$ 7,307,887, with 87% sold by lot and 98% sold by value. The top lot is the Walter Spies masterpiece Balinesishe Legende (Balinese Legend), setting a new record for the artist at HK$16.9 million. Ms Ruoh-Ling Keong, Head of Christie’s Southeast Asian Modern and Contemporary Art Department, said, “The sale total of HK$56.7million represents a nearly 70% increase over the same sale last year. With average prices roughly in line with those seen at the height of the market, and several records set across the modern and contemporary sections, the market for the finest works of art from Southeast Asia is indeed healthy and robust. There was a buzz in the auction hall when the hammer went down on the Walter Spies masterpiece Balinesishe Legende