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Hong Kong: State of the art

The international art market is showing renewed signs of life with the recovery of the global economy. On 3 February, Alberto Giacometti’s Walking Man I sold at Sotheby’s London at a record price of GBP65 million (USD99.2 million).

Hong Kong is poised to become a major player in the world market. Both Sotheby’s and Christie’s saw a growth in sales during 2009 across all categories, from wine and jewellery to contemporary art. Sotheby’s posted sales of HKD1.3 billion (USD167 million) in early October 2009, while Christie’s totalled HKD1.65 billion (USD213 million) in late November and early December.