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'Deep bidding' from China at Asian art sales
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China Daily > HomePage
China has emerged as a leading market for art over a week of high-end auctions in New York, said US auction house Christie's, whose sales totaled more than $34 million.
"Throughout the week of sales, there was robust participation across all buying channels with deep bidding witnessed from Greater China," Tina Zonars, chairman of Asian art at Christie's, told China Daily on Saturday.
Christie's Asian Art Week auctions featured more than 900 objects spanning ancient Chinese bronzes through contemporary Indian paintings.
According to Art Market 2018, an annual report produced by UBS and Art Basel, the US was still the largest market worldwide, accounting for 42 percent of sales by value.
Asia accounted for 23 percent of global sales in 2017, while Asian buyers made 15 percent of global transactions through intermediaries.
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