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Chinese Art Snapped Up in $106m Christie's Auction

Chinese Art Snapped Up in $106m Christie's Auction

Write: Ashling [2011-05-30]

Chinese buyers have now spent 106 million US dollars on vintage bottles of Chateau Latour and modern paintings at the start of a week-long Hong Kong auction.

The three-day total is about 40 percent more than they spent on equivalent auctions in the fall.

The weekend event raises the chance that the series -- including gems, watches, Chinese ceramics and classical paintings -- will beat an estimate of some 300-million US dollars, which would be a record for Christie's International.

It's estimated that trade in Chinese antiques has an annual value of more than $10 billion.