Five-day Hong Kong Sale Totals $270 Million

HONG KONG—Christie’s five-day sale in Hong Kong, which offered 2,400 lots, totaled HK$2.1 billion ($270.4 million), reports Bloomberg, beating its high presale estimate of HK$1.8. Bidders were more discerning than at previous auctions, vying for the best pieces and passing on lower-quality items, Beijing-based dealer Tian Kai told Bloomberg. Highlights of the sale included a Ming jar that fetched HK$30.5 million, a set of 14 paintings by Cai Guo Qiang that went for HK$74.2 million, double its high estimate, and Sunset at Danshui, a painting by the early 20th-century Taiwanese artist Chen Cheng-po, which sold for HK$50.7 The most expensive lot was a Qing Dynasty enamel brushpot that fetched HK$67.5 million. Contemporary artists Yue Minjun and Zhang Xiaogang also did well.