SOTHEBY’S HONG KONG AUTUMN SALE ACHIEVED OVER $411 MILLION (US)

Patti Wong, Chairman of Sotheby’s Asia, said: “Following on from our strong Hong Kong sale series this past Spring, Sotheby’s international network has been extraordinarily successful in sourcing some remarkable collections across a range of categories from around the world – from Europe comes the second part of one of the world’s great private collections of Imperial porcelain, Fine Chinese Paintings and 20

th Chinese Oils from English, European and American collections built up over different periods during the past 50 years, Contemporary Asian Art from the Collection of Belgian Baron Guy Ullens, and wine from a truly extraordinary cellar in America. Over the past six days in the now truly international marketplace of Hong Kong, collectors from all over Asia, in particular Greater China, and from around the world, some established collectors and some new to our business, have competed with one another and wi th Western collectors for this group of choice works, achieving these stellar results.” Kevin Ching, Chief Executive Officer of Sotheby’s Asia, said: “Sotheby’s Hong Kong has completed one of the most successful sales this Autumn from 1 to 6 October, selling over 3,000 lots for a stunning total of over HK$3.2 billion / US$411 million (est. HK$2.7 billion / US$350 million). We have seen Record Various-Owner Sales of Contemporary Asian Art, 20th Century Chinese Art, Fine Chinese Paintings, Magnificent Jewels and Jadeite, Important Watches, and the Second Highest Total For A Various-Owner Sale Of

Southeast Asian Paintings. In addition, records were set for Ming Porcelain, the Highest Price Per Carat for a Fancy Vivid Blue Diamond and a Fancy Vivid Orange Diamond, as well as for the key 20th Century artist Zao Wou-ki. The very successful results achieved this season bring Sotheby’s Hong Kong’s 2011 Sotheby’s Hong Kong’s 2011 AAuction AAuction TTotal TTota l to to an impressive sum of to to an impressive sum of H HK$7.49 billion / US$960 million HHK$7.49 billion / US$960 million, 40% increase from the 2010 Auction Total (HK$5.34 billion / US$685 million).

* Estimates do not include buyer’s premium

-Diamond News