Christie's auctions setting mad statistics

Sales of fine art, jewelry and ceramics are predicted to fetched an estimated HK$7.1 billion in total at Christie's Hong Kong 2007 fall auctions at the end of the month.

The interesting part about this auction off this fall are the growing numbers of Chinese 20th century and Asian contemporary art being auctioned off. More than 460 lots under this category went on sale, and will be fetching an estimated value of HK400 million dollars.

Works by Zhang Xiao Gang, Yue Mingjun, Cai Guoqiang are high on a record setting. In a bid to attract buyers from around the world Christie's has held pre-sale exhibition in Jakarta, Beijing, Singapore, London and Moscow.

Looks like Christie's is really set in making Modern Asian Contemporary Art a growing trend in collectibles. Whether a not this is a drive for profits. I am sure many museums out there in the world will be happy to collect some of this master pieces which depict stories of an era of chaos and social reform.