Sotheby's New York Asia Week Auctions Total $63.5 Million

-- All Sales Exceed High Estimates --

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Sotheby's

Sep 19, 2016, 02:51 ET

NEW YORK, Sept. 19, 2016 /PRNewswire/ --

The Roy and Marilyn Papp Collection of Chinese Paintings Realizes $32.2 Million, Double the High Estimate

Sotheby's New York Asia Week Auctions Total $63.5 Million

– 115 of 122 Lots Sold Over Four and a Half Hours –

– 80% of Lots Sell Over High Estimate –

'White-Glove' Sale of Chinese Art Through the Eye of Sakamoto Gorō Fetches $2.5 Million With Every Lot Sold

Qianlong Imperial Teapot Sells for $3.5 Million (estimate $300/500,000)

Sotheby's New York Asian Art Totals for 2016 Remain Stable Compared to 2015

"This superb performance provided a bright spot in an otherwise uncertain market. But as we've seen elsewhere, the environment for well-presented works at the higher end of the market appears to be healthy," said Tad Smith, CEO of Sotheby's.

Mike Goss, Sotheby's CFO, added, "Given the backdrop of our seasonally low third quarter, in this year an exceptionally weak one, we are encouraged that the strength of Asia Week bodes well for the upcoming sales in our much more meaningful fourth quarter."

Sotheby's sales of Asian Art continue next month in Hong Kong from October 1-5 at the Hong Kong Convention and Exhibition Centre. Further information available upon request.

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