Christie's $335 Million Hong Kong Sale Is 16% Below Estimate

  • Economic uncertainty, anti-corruption drive hurt China demand
  • Sales slump reflects wider slowdown in luxury spending

Christie’s International Plc sold HK$2.6 billion ($335 million) at its six-day Autumn sales in Hong Kong that ended Wednesday night, 16 percent below what the auction house had estimated it would earn, as Chinese buyers held back on purchases of contemporary art, ceramics and wine.

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