Asian Art Week features Chinese furniture for auction

Global Business

Asian Art Week just kicked off in New York City bringing together some of the world’s top dealers, auction houses and collectors of Asian Art. One of the highlights this year at Christie’s auction house is its offering of classical Chinese furniture.

CCTV America’s Karina Huber got a sneak peak at what’s for sale and advice from an expert on what to look for when in the market to buy.

Asian Art Week features Chinese furniture for auction

Christie's auction house in the Asian Art Week features Classical Chinese furniture, which is expensive but increasingly in demand.

At Christie’s, Chinese furniture expert Michelle Cheng shows off a pair of cabinets dating from the Ming Dynasty. Its most unique feature is its spotted bamboo, with an asking price of 2.8 to 3.2 million dollars.

Some armchair hopes to fetch between 250,000 and 300,000 dollars as does a meditation stool dating from the 17th century.

Classical Chinese furniture, defined as pieces created in the Ming or Qing dynasties from the end of the 14th century to the beginning of the 20th century, is expensive but Cheng says demand for it is growing.

Cheng says buyers are also increasingly paying attention to a piece’s “provenance,” or historical past when determining its value.

The furniture available for auction at Christie’s comes from one family, the Flacks who live in the United Kingdom.

The relatively new influx of buyers has helped boost prices to record highs over the past 15 years.

But can the art form continue to attract top dollar despite China’s slowing economy? We should have a clearer answer to that next week when the works go up for auction.