March 11, 2016
A gilt bronze figure of Parnashavari dating to the 16th century being auctioned by Christie's
Auction houses Christie’s, Sotheby’s and Bonhams are among the participants in a 10-day celebration of Asian art.
New York’s Asia Week, which kicked off March 10, brings together auction houses, art galleries, museums and cultural institutions, giving attendees the opportunity to immerse themselves in the culture via open houses, auctions and exhibits. The event, running through March 19, is expected to draw a strong interest from Chinese speaking buyers and from collectors, curators and enthusiasts to New York.
Asian art
During Asia Week, Bonhams will host auctions selling art from Japan, China, India and Southeast Asia, as well as a collection of Chinese snuff bottles. Sotheby’s will host an auction featuring Buddhist, Hindu, Mughal and Jain devotional art.
Christie’s eight total sales will feature 700 objects, among them Chinese and Bengal school paintings, porcelain pottery from the Imperial Ming and Qing dynasties, Chinese furniture and jade carvings.
Last year's event saw $360 million in sales, almost doubling the previous year's amount (see story). This event positions New York as a go-to destination for buying Asian art, and the auction houses typically see heavy traffic throughout the week.
Japanese handscroll by Miyagawa Choshun being auctioned at Bonham's
“For connoisseurs and collectors who want to immerse themselves fully in the wonders of the Far East, they know there is a once-a-year celebration that they must attend," said Lark Mason, chairman of Asia Week New York, in a statement. "And it's no wonder. Asia Week combines top-flight galleries and world-renowned Asian art specialists for over a week of outstanding events and exhibitions—all sprinkled around the world's most exhilarating city, New York."
For this year’s event, Relais & Chateaux property The Surrey will serve as sponsor. The hotel’s restaurant Bar Pleiades will be serving a special dish inspired by chef Aaron Bludorn’s trip to Japan.
As Chinese consumers continue to accrue wealth, they are becoming a key client base for the art world.
The rapid growth of the cruise market in Asia presents opportunities for both cruise liners and art dealers, according to Seaborne art auctioneer Park West Gallery.
This year, there has been a 10 percent compound growth in the number of cruise ships operating in Asia since 2013, with days at sea increasing by more than 33 percent. The expansion of the cruise industry will impact economic growth in Asia, but also the fine art market as Park West Gallery expands its presence on cruise ships entering Asia (see story).
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