Christie's Hong Kong Art Auction Feels China's Economic Chill

November 29, 2015 9:01 PM

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China’s economic slowdown, government anti-corruption measures and fleeing speculators are causing a chill in the Hong Kong art auction market, Christie’s Nov. 28 International Hong Kong evening sale showed.

The London-based auction house sold HK$507.9 million ($65.5 million) worth of art at its Asian 20th Century and Contemporary auction, compared with HK$636 million at a similar event a year ago, and HK$935 million in November 2013. Saturday’s sale is the marquee event of Christie’s six-day Hong Kong ...

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