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HONG KONG (AFP) ― A blue-and-white Ming vase fetched nearly $22 million in Hong Kong on Wednesday, setting a new record at auction for porcelain from the ancient Chinese dynasty.
An unidentified bidder paid HK$168.7 million ($21.7 million) for the 15th century imperial vase at the sale by Sotheby’s auction house, more than double the lower pre-sale estimate of HK$80 million.
Thirty-two pieces in the sale went for a total of HK$560 million, again far above pre-auction estimates, it said.
Hong Kong has emerged as the world’s third-largest auction centre after New York and London, thanks in large part to China’s rapidly growing number of millionaires.
Mainland Chinese regularly snap up the top lots at auctions of art, jewelry and wine and Hong Kong has positioned itself as the gateway to China’s vast market.
An unidentified bidder paid HK$168.7 million ($21.7 million) for the 15th century imperial vase at the sale by Sotheby’s auction house, more than double the lower pre-sale estimate of HK$80 million.
Thirty-two pieces in the sale went for a total of HK$560 million, again far above pre-auction estimates, it said.
Hong Kong has emerged as the world’s third-largest auction centre after New York and London, thanks in large part to China’s rapidly growing number of millionaires.
Mainland Chinese regularly snap up the top lots at auctions of art, jewelry and wine and Hong Kong has positioned itself as the gateway to China’s vast market.
