New York’s Asia Week sales wrap up tonight with Christie’s big Chinese ceramics sale, but by now the basic market trends seem pretty clear, as evidenced by the last few days of crowded salesroom action at Christie's, Sotheby's, Bonhams, and Doyle (and at Freeman's, as well, which made its share of headlines despite being in Philadelphia). The results have skewed positive, but there have been a few stumbles along the way, particularly in the non-Chinese categories, proving that "Asian art" is in fact made up of many different, rather complicated, markets (for more on that, see our guide to Asia Week for beginners). Prices for traditional Chinese art continue to climb higher, and it was not rare to see objects sell for 10 times (or more) the high estimate. However, the interest in Indian and Southeast Asian art (traditional, modern, and contemporary) was more subdued, with quite a few high-profile buy-ins, while Christie's Japanese and Korean works of art sale was only a third sold by value.
The highlights from the week include an enormous Ming dynasty gilt-bronze and cloisonné jar sold for $1.5 million at Freeman's, two brushpots bearing the Qianlong imperial seal that sold for $3.5 million at Sotheby's, and the entirety of Sotheby's $35.2 million classic Chinese painting auction, which more than doubled its estimate. On the other hand, the much-hyped "Rockefeller Raza" was bought-in at Sotheby's Indian modern sale, and Christie's Japanese and Korean works of art auction didn't realize anything close to the low estimate.
For illustrated commentary on the best and the worst of this spring's Asia Week, click on the slide show.