Colin Gleadell records some sales from ArtHK in Hong Kong this weekend:

At the contemporary art fair ART HK, Western galleries chalked up some significant sales of works by Asian artists to Asian collectors. The American Pace gallery, which has a branch in Beijing, sold a painting by Zhang Xiaogang for $1 million. Sperone Westwater, from New York, sold several paintings by Liu Wei priced in the $600,000 range to buyers from mainland China, Indonesia and Singapore, as well as Hong Kong. And Marianne Boesky, also from New York, sold works by Japanese artist Yoshitomo Nara priced up to $350,000 to collectors from Taiwan, Singapore and Indonesia.

Western artists did okay, too. A formaldehyde work by Damien Hirst brought £1.75 million from an Asian collection, while a stand full of works by Turner Prize nominee Jim Lambie completely sold out.

Art Market News (Telegraph)