Tag Archives: qatar

Art Auction Season Warming Up As HK Auctions Near

With Auctions Of Western Favorites Doing Better Than Expected, Will We See The Same Excitement Surround Upcoming Contemporary Asian and Chinese Art Auctions?

Up for auction later this month in Hong Kong: Tang Zhigang, Chinese Fairytale (2006). Will Asian buyers pounce on the best buyers' market in years?

Up for auction later this month in Hong Kong: contemporary Chinese artist Tang Zhigang's "Chinese Fairytale" (2006). Will Asian collectors pounce on the best buyers' market in years?

As trend-watchers love to say, the art market may be down from last year, but it’s far from out. Yesterday’s auction at Christie’s suprised many, with better-than-expected bidding and several works exceeding their estimates. As the New York Times noted, works by historical favorites like Picasso and Giacometti brought solid prices, and the auction injected a dose of optimism into the auction market, which has recently been affected by the same drop in confidence as the rest of the economy. However, Christie’s success is not the main point that interested me in the New York Times article. This is what caught my eye:

Continue reading