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Auction Houses Taking New Approaches In Asian Markets

Auction Houses Combining Popular Lots To Attract Even More New Chinese Collectors

Up for auction next month at Borobudur's Singapore auction of contemporary Asian art and fine wine: Xu Bing's "Free Bird"

Up for auction next month at Borobudur's Singapore auction of contemporary Asian art and fine wine: Xu Bing's "Free Bird"

With emerging bidders like the New Chinese Collectors, seen in action at recent auctions of Chinese antiquities (and by other auction attendees throughout the summer), taking the spotlight and garnering the attention of major auction houses like Sotheby’s, smaller auction houses have taken the buying trends of these new bidders to heart and retooled their Asia strategies to appeal to these buyers and drive growth in the region.

In recent auctions, Indonesian auction house Borobudur has combined two of the Chinese buyers’ favorites — contemporary art and fine wines — into combination lots at their Singapore auctions. By¬†undertaking this kind of¬†Asia-centric initiative like combination auctions, Borobudur is likely to attract more mainland Chinese buyers, hoping to double up on good art and wine and bring back a decent-sized haul from Southeast Asia.