(Bloomberg) -- Sotheby's sold HK$2.18 billion ($281 million) worth of Asian Art, watches, jewelry and wine at a five-day sale that ended in Hong Kong on Wednesday evening.
The results were below the HK$2.7 billion the New York-based auction house sold a year ago at its Hong Kong autumn sales, and the HK$3.1 billion spent at Hong Kong's other twice-yearly sale in April.
“Sotheby's Hong Kong sales demonstrated East Asia's resistance to uncertainty and softness in some Western markets,” Sotheby's Chief Executive Officer Tad Smith said in a statement.
The top lot was an 18th century jade seal belonging to Chinese emperor Qianlong that sold to an anonymous Asian buyer for HK$91.5 million, exceeding its low estimate of HK$80 million.
To contact the reporter on this story: Frederik Balfour in Hong Kong at fbalfour@bloomberg.net. To contact the editors responsible for this story: Sree Vidya Bhaktavatsalam at sbhaktavatsa@bloomberg.net, Peter Vercoe
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