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Sotheby’s Hong Kong Sales See Fewer China Buyers, Ming Pao Says

May 18 (Bloomberg) -- Sotheby’s Hong Kong spring auction sales fell 30 percent to HK$2.46 billion ($317 million) from a year earlier because there were fewer mainland Chinese buyers, Ming Pao Daily reported today, citing Kevin Ching, chief executive officer of Sotheby’s Asia.

About half of the Chinese buyers were speculators, according to the Chinese-language newspaper.

To contact the editor responsible for this story: Hwee Ann Tan at hatan@bloomberg.net

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