Chinese Buying Frenzy Pushes Sotheby’s to $540 Million Record

A growing number of collectors from China and elsewhere in Asia helped Sotheby’s raise HK$4.2 billion ($540 million), which it said was a record for a series of auctions held in Hong Kong.

The five-day marathon’s record-breaking sales, which concluded last night, included a $30.8 million white diamond, a $23.3 million painting by Zeng Fanzhi and a $30.5 million bronze Buddha.