Holiday Trend

Asian art market sizzles

By Kelly Chung Dawson (China Daily)
Updated: 2011-04-04 07:59
Large Medium Small

 Asian art market sizzles

Collectors visit the pre-exhibition held before a Christie's auction in Paris. Christophe Petit Tesson / For China Daily

Record purchases by Chinese collectors keeps market humming with activity and cash registers ringing. Kelly Chung Dawson reports from New York.

Prestigious auction houses Sotheby's and Christy's both recently released 2010 results, revealing blockbuster numbers despite a worldwide recession. In fact, Christie's numbers broke records for the 245-year-old company - and both auction houses reported huge gains in the Asian market. According to Kevin Ching, chief executive officer of Sotheby's Asia, the contribution of Asia sales to Sotheby's worldwide sales grew to 16 percent in