The South China Morning Post’s Anna Healy Fenton followed up on the Hong Kong sales to get this observation on the importance of provenance to Chinese collectors who often lack documentation or historical details:

”I’ve never seen so many mainland Chinese clients in Hong Kong,” said Dessa Goddard, director of Asian Art for Bonhams North America. “Hong Kong was an extremely lively market.” […] She notices the Chinese buyers have learnt their lessons and are getting much more selective. “Not everything sells now, even the new people see it as a learning opportunity,” she says.

[…] “The new wave of mainland art collectors is very interested in provenance, for them art works must be in the best condition and being fresh to market is important. That’s because a lot of things are coming back on the market for a second and third time. This too builds provenance. […],” observes Goddard.

Art Auctions—Chinese Collectors Buying Their Past (South China Morning Post)