Art lovers, collectors and dealers from around the world are gathering in New York for Asia Art Week. It’s an annual event that focuses on auctioning pieces from a number of Asian countries, making the event one of the largest in the world. Chinese artwork, in particular, is expected to be the best sellers. CCTV America’s Shraysi Tandon filed this report from New York.

Highlights:

•  The first auction held on Tuesday had 10 pieces for sale. All were sold for $61 million. Almost all of the buyers were Asian.
• Whether they’re buying in New York or other parts of the world, Asian purchasing power is hard to ignore. Asian buyers represent 27 percent of auction house Christie’s global clientele.