For more news visit ☛ http://english.ntdtv.com<br />Follow us on Twitter ☛ http://twitter.com/NTDTelevision<br />Add us on Facebook ☛ http://me.lt/9P8MUn<br /><br />On Wednesday, Sotheby's held an art auction in Hong Kong. A Chinese Ming Vase fetched a record high price for Ming porcelain. The auction is considered a bellwether for the Asian art market.<br /><br />In Hong Kong's biannual Sotheby's auction, a Ming vase broke records on Wednesday. Despite recent financial turmoil, the cobalt blue artifact sold for 21.6 million dollars, the highest at any auction for Ming porcelain.<br /><br />Bidding lasted ten minutes and the early Ming Meiping vase was then sold. Other notable items sold were a Qing-period vase for $11.6 million and a Ming Yongle period stand for $3.7 million.<br /><br />However, the recent financial market did affect the auction, with tighter credit checks, as well as aggressive estimates. As many as 20% of all pieces went unsold. Traditional pieces did better than modern works of art.<br /><br />The Sotheby's auction is usually used to gauge how well the Asian art market is doing.
