US$12.3 million white jade smashes world records
Mainland buyers once again dominate Hong Kong Sotheby's auction, but "this is just the beginning"
Sotheby’s Hong Kong Fine Chinese Ceramics and Works of Art Spring Sale 2010 sold HK$2 billion of antiques and paintings in Hong Kong. Amongst the sold items was an imperial seal made from White Jade that belonged to the emperor Qianlong. Fetching US$12,289,744, the seal broke world records for white jade and Imperial seals at auction.
As is the trend, most buyers were from the Chinese mainland. "This is just the beginning of Chinese buying," said dealer Fu Xiao to Bloomberg.
But are the Chinese overpaying for antiques? "Not at all. The prices reflect the items quality and a growing demand among Chinese for such antiques," said New York-based dealer James Hennessy.
