Auctions of Chinese antiques net HK$451m

PUBLISHED : Monday, 09 April, 2007, 12:00am
UPDATED : Monday, 09 April, 2007, 12:00am

Chinese collectors fuelled the auction boom yesterday by snapping up most of the lots on offer at Sotheby's sale of antiques at the Convention and Exhibition Centre.

Buyers spent HK$451.27 million at three themed auctions of Chinese porcelain and imperial objects, many of which had been in the hands of overseas collectors for decades.

Sotheby's Asia chief executive Kevin Ching said wealthy buyers from the mainland, Taiwan and Hong Kong were keen to snap up their heritage.

'As China becomes more internationally active and economically stronger, that would certainly raise the interest in these objects,' he said.

A set of seven archer's rings once owned by the Qing dynasty emperor Qianlong (1735-1796), still in the original cinnabar box, fetched HK$47.36 million, the most expensive lot sold.

Also sold was a moulded famille-rose beaker vase bearing the seal of the Yongzheng period (1678-1735). It fetched HK$22.72 million.

Items being auctioned by a French collector sold for a total of HK$128.3 million.

Two auctions are scheduled for today - modern Chinese paintings, and antique clocks and watches.