HONG KONG—Sotheby’s wrapped up its five days of auctions in Hong Kong with a grand total of HK$691 million ($89 million). The number surpassed the pre-sale estimate of HK$600 but fell well below the HK$1.77 billion earned in last year’s comparable sale. “The financial crisis is still with us, so many potential collectors took a wait-and-see attitude,” Michael Wang, an art collector and chief executive of Humble House Art Space, told Bloomberg. Highlights of the sales, which ran April 4–8 and included 1,700 lots in a variety of categories, were the sold-out wine auction and the record set by modern master Lin Fengmian. Hong Kong is Sotheby’s third-largest market after New York and London. Christie’s holds its Hong Kong sales next month.
Arts Policy: Germany Reaffirms Commitment to Restitution of Nazi-Looted Art
from ARTINFO
The statement came in response to a suggestion by Norman Rosenthal that such works should stay in museums
Thursday, April 9, 2009
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