HONG KONG.- Sotheby’s announced the launch of the sales of Classical Chinese Paintings in Hong Kong, adding to its existing saleroom for the category in New York. Rongde Zhang, Sotheby’s Head of Classical Chinese Paintings will work closely with Sally Fong, Hong Kong-based specialist to oversee and curate the bi-annual sales in Asia. The first dedicated sale of classical Chinese paintings in Asia for more than a decade will be held during Sotheby’s forthcoming Hong Kong Autumn Sale Series, presenting collectors in the region with works by renowned Chinese painters from the 14th to 19th centuries.

Since relaunching the Classical Chinese Paintings sales in New York in 2011, Sotheby’s has seen exceptional results for the category, including the sale of a Ming Dynasty collection of Buddhist sutras from an important Japanese collection for US$14 million (approx. HK$109.2 million)—nearly 100 times its pre-sale high estimate— at auction on 19 March 2015 in New York. Another highlight, Shitao’s Poems, Calligraphy and Landscape from The Guan-Lu Yuan Collection, was sold for US$3.9 million (approx. HK$30.8 million), more than two times presale high estimate, at the same auction. Such outstanding results have reaffirmed Sotheby’s leading position in the classical Chinese paintings market.

Rongde Zhang, Head of Classical Chinese Paintings, Sotheby’s, said, “Since Sotheby’s pioneering reintroduction of dedicated Classical Chinese Paintings auctions in New York in 2011, we have been offering our clients the finest and rarest works, sourced globally by our worldwide team of specialists, in this key sale location. Four years have passed and we have firmly established Sotheby’s as a leader in the US market. Having seen enthusiastic participation by Asian collectors at our New York auctions, we have decided to reintroduce classical Chinese paintings to Asia this autumn.”

Rongde Zhang continued, “With the launch of the department in Hong Kong, Sotheby’s is perfectly positioned to offer clients greater flexibility and more options when it comes to both sourcing and selling. We are accepting consignments for the upcoming Autumn sale in Hong Kong, and look forward to presenting collectors with top calibre works of impeccable provenance by renowned classical Chinese painters.’

Kevin Ching, Chief Executive Officer, Sotheby’s Asia, commented, “Sotheby’s has always been on the pulse of changing market demand and diversification of collecting categories. The reintroduction of classical Chinese paintings to the Asian auction market marks a strategic move in response to the growing popularity of this genre among Asian collectors. Over the past years, Sotheby’s has been enjoying a formidable reputation as the market leader in New York. Starting this Autumn, Rongde Zhang will lead his teams in New York and Hong Kong to curate the bi-annual auctions in Hong Kong. With Rongde’s exceptional knowledge and experience, as well as significant connections in the collecting community in the US, China, and Japan, I am confident that our classical Chinese paintings auctions in Hong Kong will achieve great results.”

Rongde Zhang will continue to be based in New York, working closely with the New York team including Specialist Xian Fang and Department Manager Han Liu and the team in Hong Kong to offer the best in classical Chinese paintings to art lovers and collectors in Hong Kong and Asia.