Home > Appraisal/Auctions, Asian Art, International > CHINESE ART PAYMENT CONCERNS AND ARE SALES TO CHINESE COLLECTORS STARTING TO SLOW DOWN?

CHINESE ART PAYMENT CONCERNS AND ARE SALES TO CHINESE COLLECTORS STARTING TO SLOW DOWN?

There have been rumors about mainland Chinese buyers not paying up or not paying the buyer’s commission.  One example was the bronze zodiac heads from the Yves St. Laurent Estate  were the Chinese government said that the heads were unlawfully removed from China and that no payment was due! Now the Financial Times reports that Sotheby’s required a  $ 1 million deposit from bidders of premium lots in a recent auction of Imperial Porcelains in Hong Kong.  

And as a consequence perhaps, a sale in Hong Kong at Sotheby’s of 18th century Chinese ceramics,  just over 55% of its pre-sale low estimate was achieved. Protest or a tipping point for the strong mainland Chinese buyers – or perhaps both ? !

On the other hand, the sale of the Meiyantang  Collection, widely believed to have been the finest collection of its kind in private hands, is said to have totaled  US $ 447 millions, a new record for auction in Hong Kong.

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