HONG KONG.- Christie's Hong Kong Spring 2010 auctions of Important Chinese Rhinoceros Horn Carvings from The Songzhutang Collection Part II and The Imperial Sale, Important Chinese Ceramic and Works of Art realized a combine total of HK$673,307,750 (US$86,452,715).

Pola Antebi, Senior Vice President, Specialist Head of the Chinese Ceramics & Works of Art Department said, “Records tumbled as Christie's sale of the Songzhutang Collection of important rhinoceros horn carvings became the second “white glove” 100% sold auction at Christie’s Spring 2010 sale series. Energetic bidding in the room, on the telephone and online through Christie’s LIVE resulted in 6 lots selling for over US$1 million. The top two lots of the sale each realized a world record price of HK$39.9 million (US$5.12 million) - establishing a new benchmark in this collecting category.

The success of the sale is a true testament to the collector, whose knowledge and connoisseurship spans 30 years. These precious carvings, traditionally highly prized among Chinese collectors, were hotly contested by a wide range of clients in the region and sold for many multiples of their high estimates. The sale achieved a total of HK$237 million (US$30.4 million), more than seven times the pre-sale low estimate.

The Imperial Sale, Important Chinese Ceramics and Works of Art totaled HK$436.4 million (US$56 million), nearly double the pre-sale estimate. As in the sale of the Songzhutang Collection, there was brisk bidding in a standing-room only auction hall, where a bank of 20 auction house representatives were manning phones with international clients and numerous bids were received online through Christie’s LIVE. Buyers were both established and new clients to Christie’s, primarily from Greater China, but with a significant percentage of the sale selling to clients from Europe and North America.

The highlight of the sale, a magnificent early Ming gilt-bronze Buddha from the Xuande period, doubled its unpublished pre-sale estimate to sell for a record HK$70.1 million (US$9 million). Also breaking a new auction record was the jadeite tripod censer and cover which more than tripled its pre-sale estimate when it sold for HK$34.3 million (US$4.4 million). Imperial ceramics, jades and Buddhist sculptures were the most sought-after categories in the sale.”