Sotheby's, Christie's gear up for Asia week auction
Source: Agencies |
March 17, 2013, Sunday
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Print Edition
Print Edition
RARE bronzes, contemporary masterpieces, museum-quality furniture and antiquities dating back more than 3,000 years are among thousands of art objects hitting the auction block in New York this week during Christie's and Sotheby's Asia week sales.
The four days of auctions, estimated to take in anywhere from US$74 million to US$106 million, begin on Tuesday with Sotheby's sales of contemporary Indian art and Chinese ceramics and art, and Christie's Indian and Southeast Asian sale.
The semi-annual sales of Asian works of art have become an important driver in the global market, with strong activity in recent years. But a recent report found art spending by Chinese collectors fell 24 percent last year because of slowing economic growth and a lack of availability of top-quality works.
Among highlights is a towering, Tibetan bronze figure of a bodhisattva from around the ninth or 10th century that reaches nearly 1.2 meters and is expected to fetch about US$2.5 million at Christie's.
"Buddhist art in general has become an increasingly big focus," Hugo Weihe of Christie's said.
"The old collection pieces have become incredibly desirable, especially for collectors who are seeking to acquire these cultural objects back."
Sotheby's sales include its first private collection of Indian art in over a decade, consigned by the owner, Amrita Jhaveri. At its classical Chinese paintings sale, "Stream-laced Mountain After Snow" from Tang Dynasty (AD 618-907) is likely to fetch about US500,000.
Sales of Japanese and Korean art, jade carvings, Chinese snuff bottles and rare porcelain round out the auctions.
The four days of auctions, estimated to take in anywhere from US$74 million to US$106 million, begin on Tuesday with Sotheby's sales of contemporary Indian art and Chinese ceramics and art, and Christie's Indian and Southeast Asian sale.
The semi-annual sales of Asian works of art have become an important driver in the global market, with strong activity in recent years. But a recent report found art spending by Chinese collectors fell 24 percent last year because of slowing economic growth and a lack of availability of top-quality works.
Among highlights is a towering, Tibetan bronze figure of a bodhisattva from around the ninth or 10th century that reaches nearly 1.2 meters and is expected to fetch about US$2.5 million at Christie's.
"Buddhist art in general has become an increasingly big focus," Hugo Weihe of Christie's said.
"The old collection pieces have become incredibly desirable, especially for collectors who are seeking to acquire these cultural objects back."
Sotheby's sales include its first private collection of Indian art in over a decade, consigned by the owner, Amrita Jhaveri. At its classical Chinese paintings sale, "Stream-laced Mountain After Snow" from Tang Dynasty (AD 618-907) is likely to fetch about US500,000.
Sales of Japanese and Korean art, jade carvings, Chinese snuff bottles and rare porcelain round out the auctions.
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