Asia

Sixty-four percent of Chinese art collectors bought Western European modern and contemporary art in the past five years according to a survey conducted for the TEFAF Art Market Report which was presented at the fair as the doors opened for the second preview day.

The Masterpiece fair brand will be trialled in Hong Kong later this year with a ‘pavilion’ within the Fine Art Asia fair.

An exceptionally rare Western Zhou bronze, taken when the Summer Palace was sacked by British troops in 1860, has been returned to China.

Auctioneer Richard Madley has been replaced with former Christie’s auctioneer Hugh Edmeades by the Board of Control for Cricket in India.

It is 150 years since the beginning of the Meiji era in Japan and 160 since the country finally opened up to foreign trading after years of isolation.

The recently discovered pair to the famous ‘Bainbridge vase’ has sold in Hong Kong today for a premium-inclusive HK$149m (£14.6m). Bidding opened at HK$40 million and steadily climbed as five bidders competed for the lot.

Fine Art Asia, the annual Hong Kong event, features art and antiques offered by dealers from both the west and the east.

An extraordinarily rare artwork by pre-eminent Chinese scholar Su Shi (1037-1101) will be offered at Christie’s Hong Kong later this year. The auctioneers are hoping that it could make a record for any Asian work of art.

The pair to the famous ‘Bainbridge vase’ – knocked down at £43m in 2010 but later sold for half of that sum – is to come to market. Sotheby’s will sell the near identical vase, that has a century-long provenance, in Hong Kong in the autumn.

Whisky bottles decorated with illustrations by pop artists Valerio Adami and Sir Peter Blake set records at Bonhams’ Fine and Rare Wine and Whisky auction in Hong Kong.

The highlight of the inaugural handbag auction held by Spink in Hong Kong was a sterling silver Hermès Kelly handbag.

Sotheby’s is to return to holding auctions in India to take advantage of the growing wealth in the Asian nation.