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Asia demand drives up art sales with China, India targeted

Soaring prices at a time of economic uncertainty have raised questions of an art market bubble but sales have remained robust

Reuters  |  London 

  Increasing demand from Asian buyers boosted sales at major international auction houses Christie's and Sotheby's in the first half of 2013 with expectations of growing participation by Chinese and Indian collectors in the global art marketplace.   London-based Christie's on Tuesday said global sales hit 2.4 billion pounds in the first six months, up 9% on a year ago, aided by the $58 million sale of Jackson Pollock's "Number 19" and as Asian bidders rose 15%.   Sotheby's saw a 13% increase in Asian bidders at the start ...

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First Published: Wed, July 17 2013. 06:46 IST