Reuters polls some of the Chinese works of art experts to see if the recent record prices in Hong Kong are signs of a market raging out of control or a secular reset in prices:
“It’s astounding,” said veteran New York-based dealer James Lally. “I feel this is not a bubble. We’ve seen so much depth to this market. We’re stunned because there’s no precedent for it.” Fired in the 18th century during the Qianlong period of the Qing dynasty, the gourd-shaped vase has an impeccable provenance and put up for sale by longtime collector J.T. Tai. […] “Every so often something like this happens,” said Nader Rasti, a London art dealer. “A psychological barrier has been broken,” he said of the blockbuster prices.