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Sotheby's sales fetch $411mln in Hong Kong

AFP 10/08/2011 19:10
Sotheby's sales fetch $411mln in Hong Kong - Hong Kong - auction - Sotheby’s

Sotheby's said Friday it had sold more than $410 million in luxury goods, wine, art and antiques in its autumn sale in Hong Kong, with wealthy Chinese collectors driving much of the bidding.

The October 1-6 autumn sale saw more than 3,000 lots sold for more than HK$3.2 billion (US$411 million), the city's second highest sale ever, the auction house said in a statement.

Highlights included a 15th-century Ming vase that fetched a record HK$168.7 million, and a work by Chinese abstract artist Zao Wouki that was snapped up for HK$69 million.

Records were also set for the highest price per carat for a fancy vivid blue diamond and a fancy vivid orange diamond, as wealthy Asian and Western collectors competed in sales seen as a gauge of high-end consumer sentiment in uncertain economic times.

Sotheby's Asia chief executive Kevin Ching said 2011 sales in Hong Kong had smashed last year's results.