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China Guardian 2005 Autumn Auctions concluded yesterday (November 7) with an impressive total sale of RMB697 million yuan.

Commenting on the result, Mr Kou Qin, Deputy Managing Director, said: “We are very happy with the overall performance of our Autumn Auctions.  This is largely due to the high quality of the items we offered across the board.  Also, there were major items in each category that were well received by our customers.  The success of our sale is an indication that our strategy to focus on quality answers market needs.”

“It is particularly gratifying to see satisfactory results from the new categories, including ancient rubbings and bronze mirrors,” Mr Kou added.

Chinese paintings and calligraphy contributed RMB476 million yuan to the overall sale. Commenting on the continued strong performance, Ms Hu Yanyan, manager of China Guardian’s Chinese Paintings Department, said: “Some people have said that the sharp increase in price level of Chinese paintings in the past 2-3 years is a worrying sign.  However, we believe that the market is still healthy, and we will see continued growth.  One reason is that more and more people are participating in the market, leading to fierce competition and tight supply, thereby pushing up the prices.  At the same time, collectors are becoming more sophisticated and demanding, and so we are focusing on the high quality items.  I believe this is a healthy market situation and is a motivation for us to focus on quality.”

Classical Paintings and Calligraphy realised RMB117 million yuan, with Dong Qichang’s “Autumn Pavilion” (Lot 2717) sold for RMB6.71 million yuan.  Another important piece by Yu Zhiding, “Grass Pavilion” (Lot 2887) sold for RMB5.17 million.  Though Yu Zhiding is not considered a great master in the history of Chinese painting, the piece is superbly executed and well received by the market.  This signifies that collectors are interested in the quality of the piece itself.

Contemporary Chinese Paintings concluded with a satisfying result of RMB29.1 million yuan, representing 94% sold rate.  Wang Mingming’s “Gathering at the Orchid Pavilion” (Lot 2673) sold for RMB3.52 million yuan, the highest auction record for the artist.

The highlight of the session of stamps was a piece from the Shen Zenghua collection, a very rare block of 4 “Five Pointed Star” dated 1942 that sold for RMB2.2 million yuan, setting a new world auction record of Chinese stamps from the Liberated Area (Lot 6317).  The total sale figure from the session was RMB7.69 million yuan.

Coins and the Collection of Ma Dingxiang continued to draw buyers’ attention with a total sale of over RMB8.26 million yuan.  Silver Coins, Sycees and the Collection of Chen Danong set a new world auction record for Chinese silver coins.  The Kuang Hsu Yuan Pao coin (Lot 3416), also known as the “Seven Three Reversed Pattern” was issued by the Guangdong Province but was circulated for only a very short period of time.  It was manufactured by the British Heaton Mint and is extremely precious.  Bronze mirrors also performed well with a total sale of RMB4.1 million, representing over 99% sold rate.