Art lovers propel auction leaders' growth

Art collectors in China helped drive the growth of leading global auction houses last year through an active presence at domestic and foreign auctions and via online sales.

Cai Jinqing, president of Christie's China, said that spending by clients from China increased 22 percent last year and sales on the Chinese mainland itself rose 48 percent to the equivalent of 24.5 million pounds ($37.7 million). Cai did not provide a figure for Chinese clients' spending.

Last year, the auction house's global sales to Asian clients expanded 18 percent, with growing activity in many categories, she said. Asian clients accounted for 27 percent of all sales globally.