The New York Times today reports (subscript. req.) that the world’s biggest auction houses, Sotheby’s and Christie’s, sold 0 million worth of Asian contemporary art in 2006, most of it Chinese, in a series of record-breaking auctions in New York, London and Hong Kong. In 2004 the two houses combined sold million in Asian contemporary art.
Top Chinese art is already commanding six-figure prices and is in high demand, like the above painting by Chinese artist Guo Wei.
