NEW YORK, Sept. 19, 2016 /PRNewswire/ --
The Roy and Marilyn Papp Collection of Chinese Paintings Realizes $32.2 Million, Double the High Estimate
– 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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Sotheby's has been uniting collectors with world-class works of art since 1744. Sotheby's became the first international auction house when it expanded from London to New York (1955), the first to conduct sales in Hong Kong (1973) and France (2001), and the first international fine art auction house in China (2012). Today, Sotheby's presents auctions in 10 different salesrooms, including New York, London, Hong Kong and Paris, and Sotheby's BidNow program allows visitors to view all auctions live online and place bids in real-time from anywhere in the world. Sotheby's offers collectors the resources of Sotheby's Financial Services, the world's only full-service art financing company, as well as private sale opportunities in more than 70 categories, including S|2, the gallery arm of Sotheby's Contemporary Art department, as well as Sotheby's Diamonds and Sotheby's Wine. Sotheby's has a global network of 90 offices in 40 countries and is the oldest company listed on the New York Stock Exchange (BID).
Estimates do not include buyer's premium and prices achieved include the hammer price plus buyer's premium.
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