Christie's sales of Chinese works of art takes hammering

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Well, recession may be truly here.. at least for Asian collectors. Christie's sale of Chinese Works of Art and Ceramics raised $66 million, but only 57% of the lots sold and worth only 67% by value. So far, this was one category that had been fairly immune to anything in recent years, always strongly supported completly Chinese collectors.Christie's put it mindly when it noted that "bidding was at times more restrained than in seasons past." 

Some lots did outperform, such as a rare 18th century underglazed blue and copper meiping, which led the sale at HK$46.6 million ($5.98 million) against a pre-sale estimate of HK$25-35 million.