Chinese Works of Art Sprint 2022 Market Report

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CHINESE WORKS OF ART CHRISTIE’S | NEW YORK

SPRING 2022 MARKET REPORT


IMPORTANT CHINESE CERAMICS AND WORKS OF ART NEW YORK | MARCH 2022 A MAGNIFICENT AND VERY RARE LARGE GILT-BRONZE ‘DRAGON HEAD’ CHARIOT TERMINAL Western Han Dynasty, 206 B.C.-A.D. 8

Christie’s is the clear market leader for Chinese Works of Art in New York, vastly outperforming our nearest competitor by every metric.

Estimate: $150,000-250,000 Sold for $327,600 Christie’s New York, March 2022 218% OF LOW ESTIMATE

A SUPERBLY CAST BRONZE RITUAL TRIPOD FOOD VESSEL, LIDING Late Shang Dynasty, Anyang, 12th-11th Century B.C. Estimate: $100,000-150,000 Sold for $819,000 Christie’s New York, March 2022 819% OF LOW ESTIMATE

AN IMPORTANT AND VERY RARE INLAID BRONZE FACTED JAR, FANGHU Warring States Period, 4th-3rd Century B.C. Estimate: $400,000-600,000 Sold for $2,760,000

CHINESE WORKS OF ART | NEW YORK | MARCH 2022 | SUMMARY

Christie’s New York, March 2022

CHRISTIE'S SOTHEBY’S

690% OF LOW ESTIMATE

SALE TOTAL

$33.8 million

$25.9 million

MARKETSHARE

57%

% SOLD OF LOW ESTIMATE

246%

% SOLD OF HIGH ESTIMATE

164% 147%

43% 218%

MARKET SHARE

A VERY FINELY CAST BRONZE RITUAL FOOD VESSEL, GUI Late Shang Dynasty, 11th Century B.C.

CHINESE WORKS OF AR T | NEW YORK | MARCH 2022

Estimate: $200,000-300,000 Sold for $226,800

57%

Christie’s New York, March 2022 113% OF LOW ESTIMATE

$33.8 MILLION

A MAGNIFICENT AND HIGHLY IMPORTANT GILT-BRONZE FIGURE OF GUANYIN Dali Kingdom, Late 11th-Early 12th Century

43%

Estimate: $2,000,000-3,000,000 Sold for $2,580,000

$25.9 MILLION

Christie’s New York, March 2022 129% OF LOW ESTIMATE CHRISTIE’S SOTHEBY’S

*Implied bids are the number of bid increments from and including the low estimate to the hammer price of a lot


THE CHINESE WORKS OF ART MARKET AT A GLANCE

A SUPERBLY CAST BRONZE RITUAL TRIPOD FOOD VESSEL, LIDING Late Shang Dynasty, Anyang, 12th-11th Century B.C. Estimate: $100,000-150,000 Sold for $819,000

NEW YORK | 2019-MARCH 2022

Christie’s New York, March 2022 819% OF LOW ESTIMATE

Christie’s New York has maintained a dominant position in the Chinese Works of Art market for decades, holding market share for 20 of the past 22 years. In March 2022 we maintained our market-leading position, soaring above pre-sale expectations and setting us ahead in the market for the rest of the year. Not only do we maintain our market position, we build upon it year after year.

AGGREGATE SALE TOTALS

2022 YTD

NEW YORK | CHINESE WORKS OF AR T

57%

$33.8 MILLION

43%

$25.9 MILLION

$56M

$57.2M $47M

$38.5M

$45.2M

$33.9M

CHRISTIE’S SOTHEBY’S

2019

2020

2021


A LARGE BLUE AND WHITE DISH Yongle Period, 1403-1425

TOP PRICES FOR CHINESE WORKS OF ART

Estimate: $200,000-300,000 Sold for $756,000

NEW YORK | MARCH 2022

Christie’s New York, March 2022 378% OF LOW ESTIMATE

A VERY RARE GE-TYPE MALLET VASE Yongzheng six-character seal mark in underglaze blue and of the period, 1723-1735 Estimate: $400,000-600,000 Sold for $1,134,000 Christie’s New York, March 2022 284% OF LOW ESTIMATE

A MAGNIFICENT AND VERY RARE LARGE GILT-BRONZE ‘DRAGON HEAD’ CHARIOT TERMINAL Western Han Dynasty, 206 B.C.-A.D. 8 Estimate: $150,000-250,000 Sold for $327,600 Christie’s New York, March 2022 218% OF LOW ESTIMATE


A MAGNIFICENT AND HIGHLY IMPORTANT GILT-BRONZE FIGURE OF GUANYIN Dali Kingdom, Late 11th-Early 12th Century Estimate: $2,000,000-3,000,000 Sold for $2,580,000

TOP PRICES FOR CHINESE WORKS OF ART NEW YORK | MARCH 2022

Christie’s New York, March 2022 129% OF LOW ESTIMATE

AN IMPORTANT AND VERY RARE INLAID BRONZE FACTED JAR, FANGHU Warring States Period, 4th-3rd Century B.C. Estimate: $400,000-600,000 Sold for $2,760,000 Christie’s New York, March 2022 690% OF LOW ESTIMATE A MAGNIFICENT AND VERY RARE HUANGHUALI TRESTLE-LEG TABLE 17th Century Estimate: $800,000-1,200,000 Sold for $2,100,000 Christie’s New York, March 2022 263% OF LOW ESTIMATE


BUDDHIST WORKS OF ART ASIAN ART WEEK | NEW YORK | MARCH 2022 Christie’s was delighted to offer a selection of Buddhist works of art within our Important Chinese Ceramics and Works of Art sale this season. The section performed exceptionally well, with every lot selling above the pre-sale low estimate and the category as a whole realizing $1 million above the high estimate in total sales.

BUDDHIST WORKS OF ART | NEW YORK | MARCH 2022 | SECTION SUMMARY CHRISTIE'S SECTION TOTAL ESTIMATE

$4.7 million

$2.5-3.7 million

% SOLD OF LOW ESTIMATE

185%

SELL-THROUGH RATE

100%

LOTS OFFERED

17

A VERY RARE BRONZE SEATED FIGURE OF BUDDHA Northern Wei Dynasty, A.D. 386-534 Estimate: $60,000-80,000 Sold for $327,600 Christie’s New York, March 2022 546% OF LOW ESTIMATE

A RARE LARGE GILT-BRONZE FIGURE OF A BODHISATTVA Tang Dynasty, A.D. 618-907 AN IMPORTANT AND VERY RARE STONE BUDDHIST STELE Northern Wei Dynasty, A.D. 386-534, dated by inscription to A.D. 457 Estimate: $200,000-300,000 Sold for $781,200 Christie’s New York, March 2022 391% OF LOW ESTIMATE

Estimate: $50,000-70,000 Sold for $296,100 Christie’s New York, March 2022 592% OF LOW ESTIMATE


TOP PRICES FOR CHINESE FURNITURE NEW YORK | MARCH 2022

A LARGE AND RARE GREEN-MARBLE AND HUANGHUALI STANDING SCREEN 17th-18th Century

A RARE PAIR OF HUANGHUALI HORSESHOE-BACK ARMCHAIRS 17th Century

Estimate: $120,000-180,000 Sold for $441,000

Estimate: $200,000-250,000 Sold for $491,400

Christie’s New York, March 2022

Christie’s New York, March 2022

368% OF LOW ESTIMATE

246% OF LOW ESTIMATE

A VERY RARE HUANGHUALI ROOTFORM INCENSE STAND 18th-19th Century Estimate: $30,000-50,000 Sold for $201,600 Christie’s New York, March 2022 672% OF LOW ESTIMATE

AN UNUSUAL HUANGHUALI ROUND LOW TABLE 16th-18th Century Estimate: $100,000-150,000 Sold for $567,000 Christie’s New York, March 2022 567% OF LOW ESTIMATE

A RARE HUANGHUALI RECESSED-LEG TABLE 17th-18th Century Estimate: $150,000-250,000 Sold for $504,000 Christie’s New York, March 2022 336% OF LOW ESTIMATE


CHINESE FURNITURE NEW YORK | MARCH 2022 Building on our success in 2021, Christie’s achieved exceptional results in March 2022. We realized over $7.4 million for the category—over three times the aggregate pre-sale low estimate of $2.2 million. Our nearest competitor failed to offer a substantial selection of works in their comparable sales. Christie’s ability to offer a diverse range of Chinese furniture at every price point, from Ming dynasty examples to later decorative furniture, gives us a greater and more nuanced understanding of the market and the buyers.

SPRING 2022 | CHINESE FURNITURE SALES SUMMARY CHRISTIE'S SALE TOTAL ESTIMATE

$7.4 million

$2.2-3.3 million

% SOLD OF LOW ESTIMATE

326%

LOTS OFFERED

29

SELL-THROUGH RATE

100% CHINESE FURNITURE SALE RESULTS AGAINST LOW ESTIMATE CHRISTIE’S | NEW YORK | SPRING 2022

$7.4M

326%

OF PRE-SALE LOW ESTIMATE

$2.2M

PRE-SALE LOW ESTIMATE

SALE TOTAL


THE MARKET FOR CHINESE FURNITURE NEW YORK | MARCH 2022 Christie’s attractive estimates, deep expertise, and wellprovenanced lots inspired deep bidding this season. By providing multiple methods of bidding, we have made it easier than ever before to participate in our sales, strengthening our global reach and generating the highest possible prices.

A MAGNIFICENT AND VERY RARE HUANGHUALI TRESTLE-LEG TABLE 17th Century Estimate: $800,000-1,200,000 Sold for $2,100,000 Christie’s New York, March 2022

BUYER LOCATIONS:

CHINA , HONG KONG, UNITED STATES

263% OF LOW ESTIMATE BUYER:

ASIAN PRIVATE

BID METHOD:

TELEPHONE

AN UNUSUAL HUANGHUALI ROUND LOW TABLE 16th-18th Century

A RARE HUANGHUALI RECESSED-LEG TABLE 17th-18th Century

Estimate: $100,000-150,000 Sold for $567,000

Estimate: $150,000-250,000 Sold for $504,000

Christie’s New York, March 2022

Christie’s New York, March 2022

567% OF LOW ESTIMATE

336% OF LOW ESTIMATE

BUYER:

ASIAN TRADE

BUYER:

ASIAN PRIVATE

BID METHOD:

TELEPHONE

BID METHOD:

TELEPHONE

31%

PURCHASED VIA CHRISTIE’S LIVE

69%

PURCHASED VIA TELEPHONE BID

A RARE PAIR OF HUANGHUALI HORSESHOEBACK ARMCHAIRS 17th Century

A VERY RARE HUANGHUALI ROOTFORM INCENSE STAND 18th-19th Century

Estimate: $200,000-250,000 Sold for $491,400

Estimate: $30,000-50,000 Sold for $201,600

Christie’s New York, March 2022

Christie’s New York, March 2022

246% OF LOW ESTIMATE

672% OF LOW ESTIMATE

BUYER:

ASIAN PRIVATE

BUYER:

US PRIVATE

BID METHOD:

TELEPHONE

BID METHOD:

TELEPHONE

A LARGE AND RARE GREENMARBLE AND HUANGHUALI STANDING SCREEN 17th-18th Century Estimate: $120,000-180,000 Sold for $441,000 Christie’s New York, March 2022 368% OF LOW ESTIMATE BUYER:

US TRADE

BID METHOD:

CHRISTIE’S LIVE

A RARE ZITAN ‘SOUTHERN OFFICIAL’S HAT’ ARMCHAIR Late 17th-18th Century Estimate: $120,000-180,000 Sold for $491,400 Christie’s New York, March 2022 410% OF LOW ESTIMATE BUYER:

ASIAN PRIVATE

BID METHOD:

TELEPHONE


MARKETING FOR A VIRTUAL AUDIENCE VIRTUAL EXHIBITIONS

SOCIAL MEDIA

36.8K+

3.2M+

VISITORS TO ASIAN ART WEEK SALE L ANDING PAGES

SOCIAL MEDIA FOLLOWERS

Christie’s clients are increasingly interacting with us digitally, with 63% of bids placed online in 2021. Our exhibitions are now fully viewable online through virtual tours, which are accessible to international clients around the globe. Our social media presence generates buzz, while our research-focused collecting guides and story-telling narrative content features ensure that audiences of all levels are engaged. In tandem with broad-based marketing strategies, our international team draws on their years of experience and client connections to develop targeted, individual initiatives, resulting in exceptional sell-through rates and great depth of bidding at every price point.

CLICK THIS SYMBOL TO EXPLORE MORE

COLLECTING GUIDES

12.5K+ VISITORS TO ASIAN ART WEEK COLLECTING GUIDES

CONTENT FEATURES

23K+ VISITORS TO ASIAN ART WEEK CONTENT FEATURES

75.4K+ VISITORS TO ASIAN ART WEEK WEB PAGES


CHRISTIE’S EDGE WITH WECHAT

VIRAL MOMENTS ON TIKTOK

No other auction house in the world can match Christie’s advanced functionality and personalized outreach on China’s super app, WeChat.

Christie’s is the undisputed industry leader on TikTok, uniquely harnessing the power of the platform with over 1 billion monthly active users (MAU).

With 31% of global spend at Christie’s in 2021 coming from buyers in Asia, outreach to the region

Since our late 2021 launch, millions of users on TikTok have seen Christie’s content.

is imperative in the current market. Our WeChat Mini Program brings clients tailored content and direct contact with Christie’s leadership, allowing our international team to promote specific works to emerging and established collectors alike.

For Asian Art Week, Christie’s posted two TikTok videos featuring snuff bottles with nearly 30,000 cumulative views. Our strategic treatment of our property, sale timing, videography, and audio have proven to be highly successful methods which promote our consignments to the widest possible audiences.

In 2021, Christie’s became the only auction house in the world to allow clients to transact directly in all auctions through our Mini Program. Since the launch, clients have placed multiple bids over HKD 1 million, underscoring Christie’s ability to convert WeChat interaction into transactions.

23.1K+ VIEWS

CHRIST IE’S & WECHAT 2021

71%

growth in users

64%

increase in page views

4X

more visitors return to Christie’s WeChat page than the industry standard

Scan to visit our WeChat Mini Program

6K+ VIEWS


CONFIDENTIAL | © Christie’s 2022 This proposal is the property of Christie’s and is made subject to a written contract signed by all parties. It is provided solely on the basis that it—and the information contained therein—is maintained in strict confidence and is not disclosed to anyone other than your lawyers or financial advisors.