BEIJING.- Sotheby’s Beijing Autumn Sale of Modern and Contemporary Chinese Art yesterday achieved RMB 61,741,140 / HK$77,176,425 / USD 9,878,582 (estimate in excess of RMB 50 million / US$8.2 million*), with solid sell-through rates of 89.3% by lot and 88.2% by value. The sale concluded a four-day series at the China World Summit Wing, which showcased modern and contemporary Chinese art alongside Western art and collectibles, ranging from European fine antique and period jewellery by S.J. Phillips Ltd. to high- end contemporary jewellery by Sotheby’s Diamonds and Western antique silver by Koopman Fine Art.

Guihua Wen, President of Sotheby’s (Beijing) Auction Co. Ltd., commented on the sale yesterday: “We are delighted with the solid results achieved yesterday, with works by such important artists as Zao Wou-Ki and Zeng Fanzhi realising prices within our expectation, that confirm the success of Sotheby’s meticulous curatorial approach in developing the China market. Following their strong performance in Sotheby’s Hong Kong Autumn Sales, works by younger generation artists continue to attract significant interest and their works performed exceptionally well with all lots sold. We are particularly pleased to see collectors’ positive response to our stepped-up offerings of contemporary ink art, reaffirming Sotheby’s pioneering role in the promotion of this category.”

Kevin Ching, Chief Executive Officer of Sotheby’s Asia, said: “Over the past four days, our selling exhibition previews have attracted enthusiastic response from our clients, reflecting the growing interest of Chinese collectors for European silver with royal provenance and Western jewellery – from 17th and 18th Century antique pieces to high-end contemporary jewellery by Sotheby’s Diamonds. The positive reception of our exhibitions and educational programmes once again demonstrates the market’s recognition of Sotheby’s long-term strategy to promote cultural exchange between East and West. We look forward to offering collectors in China world-class art experiences and assisting them with their collecting needs in the future.”