U.S. Art Fund Buys Ming Dynasty Jar for $3.9 mn
Xiling Group, U.S. art-investment fund made up to the headlines by dropping HK$30.6 million ($3.9 million) for buying a Ming Dynasty blue-and-white jar that was set to be auctioned at Christie’s Hong Kong art auction. This portray of 16 boys singing in a Chinese garden featured on the jar was grabbed by a New York-based art dealer John Berwald during a two-minute contest over the phone. The sales generation of $3.9 mn (including commission) is the highest generated by porcelain jar from the Jiajing era (1522-1566). On 27 November, the auction for Qing Dynasty white-jade brushpot fetched HK$54.1 million, which is the highest value for a white-jade carving against Christie’s pre-sale estimate of HK$15 million. A whooping growth in demand for antiques and artworks is being witnessed in China.
Via Bloomberg
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