Reuters has the estimate on Sotheby’s Spring sales in Hong Kong. Last Spring they sold almost three times that amount:

Global auction house Sotheby’s said on Friday it expects to sell $77 million of artwork at its major spring Asian sales in Hong Kong, a substantial scaling back of business from a year ago as the financial crisis bites. [ . . . ]

“We have put together this well-edited auction series guided by collectors’ demand for quality, rarity and immaculate provenance,” said Kevin Ching, chief executive officer for Sotheby’s in Asia.

“All works have been priced to reflect the current market condition,” he added in a statement. [ . . . ]

Over 1,700 objects will be hammered off at Sotheby’s upcoming Asia sales including Chinese classical and contemporary paintings, imperial ceramics, jewelry and watches. The sale will include Sotheby’s first major wine auction in Hong Kong which is positioning itself as a wine hub, with $3 million of fine vintages expected to be auctioned off. Other highlights include a painting of “Mount Jiuhua” by Chinese master Li Keran that could fetch up to $500,000, and a pair of “Famille-rose” mille-fleur bowls from the Qing dynasty Yongzheng period, that could be hammered off for $2.6 million.

Sotheby’s Scales Back Asian Art in Hong Kong (Reuters)