Sources of high-end art works have gradually dried up, leaving auctioneers with depleted resources and facing grave difficulties in the collection of items for auction. To collect more high-end work for the next season, some have been forced to travel overseas.
Along with China, India is another emerging market for Western art collectors. But unlike the Westerners, Chinese collectors show little interest in southeast Asian art. Experts believe this is a result of a strongly nationalistic streak among Chinese collectors.
Sotheby's is hosting its first public exhibition of Asian art with fixed sale prices at its New York headquarters, and more than half the 45 contemporary water-ink paintings by 14 Chinese artists have sold.
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