Seal of Chinese emperor Qianlong expected to fetch HK$120 million at auction
The exceptional artefact is highly coveted despite weak luxury sector
The largest seal used by Chinese emperor Qianlong may potentially fetch a record-breaking HK$120 million at Sotheby’s 2016 autumn auction in the city as demand for artefacts of exceptional quality remains impervious to the economic downturn.
The imperial Khotan-green jade seal is expected to appeal to mainland buyers drawn to its symbolism as an object of status and power, with the auction house anticipating interest from new buyers alongside established antique collectors from across the region.
The seal celebrates the emperor’s final chapter of his long reign, and is the largest of its kind to exist in a private collection.
Inscribed with Chinese characters which mean “treasure of the Emperor Supreme”, the 1796 seal leads an auction taking place on October 5, offering 300 lots with a total estimate of HK$623 million.
“We have a constant influx of new buyers from China,” said Nicolas Chow, deputy chairman of Sotheby’s Asia. He added that demand for Chinese art had grown significantly in the last two decades. A more recent emerging trend of Chinese collectors investing in western art had also not offset demand for Chinese artefacts, Chow said.
“There is always demand for exceptional pieces [like the Qianlong seal]” May Ling, the managing director of Hong Kong dealer Oi Ling Chinese Antiques, said. She added this trend does not extend to less exceptional pieces, however.
“The market for luxury items is not good at the moment – for pieces that aren’t exceptional you have to wait longer to find a buyer,” she added.
The same view was echoed by a manager at Honeychurch Antiques, who said that while pieces like the Qianlong seal would fetch high sums regardless of the economic climate, in general the antique market was “weak” and had been for the last 10 to 15 months due to the flagging luxury sector.
