Chinese Contemporary Art Sets Record Prices

Caroline Chiu

Works by contemporary Chinese artists fetched record prices at Sotheby's and Christie's auctions in Hong Kong. Held a month apart for the first time, Sotheby's held their auctions at their usual venue at the Island Shangri-la hotel in early May, while Christie's chose to exhibit at the Hong Kong Convention Centre in late May. Christie's benefited, apparently, from the larger venue by offering a record number of lots for sale.

At Sotheby's, interest seemed to come mostly from mainland collectors as they offered bids over…

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