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A man looks at Andrew Wyeth 'Faraway' on display during a Christie's spring auction preview in Hong Kong. Christie's spring auctions held in May present Asian art, paintings, ceramics and rare luxury jewellery. AFP PHOTO / Dale de la Rey.
Hong Kong (CNS) -- Sales at famous Christie's auction house sales exceeded two billion Hong Kong dollars from March 1 to May 30, leaving one day to contribute to its official Spring Auction season in Hong Kong. But the sales in 2012 spring are no match for last spring's turnover of four billion Hong Kong dollars.
In the context of a gloomy global economy, the Chinese market behaved with more rationality and caution. The rage of 2011 spring bidding didn't reoccur on the island.
The droop in Christie's turnover shows the Chinese market is adapting itself to the changing external environment, leaving the potential to rebound in the future, said Dou Qin, vice president of China Guardian Auctions Co.
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