Sotheby's New York Asia Week Auctions Total $78.3 Million - Nearly 50% Increase Year-Over-Year

SALES OF CHINESE WORKS OF ART ACHIEVE $34 MILLION - Led by $3.1 Million Ming Dynasty Blue & White Ewer

CLASSICAL CHINESE PAINTINGS TOTAL $26.7 MILLION - Led by $6.6 Million for Zhang Daqian's Water and Sky Gazing After Rain in Splashed Color

$15 MILLION FOR INDIAN & SOUTHEAST ASIAN ART - Highest Total in a Decade

Sotheby's Asian Art Auctions Continue This Week With Hong Kong Spring Sales, Opening 29 March 2018

News provided by

Sotheby's

Mar 26, 2018, 09:00 ET

NEW YORK, March 26, 2018 /PRNewswire/ -- Eight days of exhibition, six days of sales and 11 auctions of Asian Art brought Sotheby's (NYSE: BID) a total of $78.3 million, exceeding the pre-sale estimate of $50 million and representing a 49% increase over the same series of sales held one year ago.

Works of arts spanning over 3,500 years were sold to collectors in Europe, Asia and the Americas, including 14 lots over $1 million. Auctions of Asian Art continue at Sotheby's this week in Hong Kong with the Spring 2018 Sale Series opening to the public on 29 March.

Sotheby’s March 2018 Asia Week sales in New York totaled $78.3 million, a nearly 50% increase year-over-year, and were led by a monumental scroll painting by Zhang Daqian that was sought after by more than five bidders, driving the final price to $6.6 million, the highest price paid for a work by the artist outside of Asia.

"We are thrilled with the results of our Asia Week sales in New York this past week," said Tad Smith, Sotheby's CEO. "They continue Sotheby's momentum thus far in 2018 and are a great runway for our annual spring Hong Kong sales beginning later this week."

Read more about Sotheby's 2018 Asia Week Results:
http://www.sothebys.com/en/news-video/blogs/all-blogs/sotheby-s-at-large/2017/12/asia-week-spring-2018.html

About Sotheby's
Sotheby's has been uniting collectors with world-class works of art since 1744. Sotheby's became the first international auction house when it expanded from London to New York (1955), the first to conduct sales in Hong Kong (1973), India (1992) and France (2001), and the first international fine art auction house in China (2012). Today, Sotheby's presents auctions in 10 different salesrooms, including New York, London, Hong Kong and Paris, and Sotheby's BidNow program allows visitors to view all auctions live online and place bids from anywhere in the world. Sotheby's offers collectors the resources of Sotheby's Financial Services, the world's only full-service art financing company, as well as the collection advisory services of its subsidiary, Art Agency, Partners. Sotheby's presents private sale opportunities in more than 70 categories, including S|2, the gallery arm of Sotheby's Global Fine Art Division, and two retail businesses, Sotheby's Diamonds and Sotheby's Wine. Sotheby's has a global network of 80 offices in 40 countries and is the oldest company listed on the New York Stock Exchange (BID).

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SOURCE Sotheby's