|
| Auction to test Asian art market health |
| AFP/PTI / New York Sep 11, 2009, 11:26 IST |
|
Art markets took a hit from the global recession, but Christie's experts say Asian art auctions next week in New York will show the region is still a pretty picture.
Hugo Weihe, international director of Indian and Southeast Asian art at Christie's, said volume and estimated prices were down, as in every other corner of the art world.
"We tried to get estimates as conservative as we can. Prices have been adjusted a little bit," he told AFP at a preview of the Asian Art Week auctions Monday through Thursday. "Volume is definitely lower."
But Weihe said that Asia's emerging economies and relatively undiscovered art riches meant it was only a question of time before profits rose.
"It's a no-brainer these things will go up again.", he added.
Weihe said the strongest performers are Chinese art, boosted by wealthy collectors in China turning to Western markets, and Indian art, "which has collectors everywhere in the world."
Highlights of the auctions range from the powerful drama of contemporary Indian artist Tyeb Mehta's "Mahishasura," estimated to sell at between 600,000 and 800,000 dollars, to ancient Buddhas, ceramics, and Japanese tea utensils.
The auctions start Monday and Tuesday with sales of Chinese ceramics and other art.
|
|
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
|
|
|
Content Guide
