Sotheby’s Raises $263 Million in Hong Kong Art, Wine Sale
Sotheby’s Raises $263 Million in Hong Kong Art, Wine Sale
Oct 9, 2012 6
(BusinessWeek) - Sotheby’s (BID) five-day autumn auction in Hong Kong ended last night with a total sale of HK$2.05 billion ($263 million) as buyers pushed prices of some top lots to records and shunned others.
The event’s revenue, with fees, compares with a presale low estimate of HK$1.6 billion at hammer prices. The figure was boosted by highlights such as the HK$34.3 million paid for a painting by Indonesian artist Lee Man Fong, the most for a Southeast Asian artist.
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