This year's Ming and Qing furniture market is optimistic about Huang Huali's several cases, New York shoots a new high

At the recently concluded "New York Asian Art Week," Christie's made a significant impact with its large-scale Huanghuali case, which sold for over $9 million in a single auction. This spring, China Guardian will introduce two special sessions in Hong Kong, focusing on Ming and Qing dynasty antique furniture. Experts believe that the hidden value of these collections is being increasingly recognized, and the market for such pieces is expected to see a rise this year. Auction houses are now placing greater emphasis on high-value pieces. At Christie’s New York auction held at Sunset Hammer on March 21st, a special "American Private Collection of Huanghuali Furniture" was introduced, featuring 13 pieces of Ming-style furniture. In addition, the China Guardian Hong Kong Spring Auction, set to begin in early April, has added a special session titled "Hong’s Collection of Ming and Qing Classical Furniture," curated by local Hong Kong collectors. Each session includes around 40 to 50 lots. Experts from both auction houses have confirmed their focus on standout pieces. Qiao Hao, a senior manager at China Guardian, highlighted a rare Qing Kangxi-era Huanghuali case. Measuring several centimeters in height, each pillar is elegantly crafted with clear lines, showcasing a minimalist yet refined style. This piece has remained intact for centuries without any repairs, making it a rare museum-quality Ming-style furniture masterpiece. Christie’s sale of a similar large Huanghuali case fetched an impressive $9,083,750. An international pricing system is now emerging for Ming and Qing dynasty furniture. Qiao Hao noted that while large cases are relatively rare, common items like tables, chairs, and cabinets are more frequently seen in auctions. He explained that certain items—such as single-headed cases, flat-headed cases, and tables—are considered essential in most collections. Cabinets, chairs, and stools are particularly sought after by buyers. Christie’s "Private Collection of American Huanghuali Furniture" saw a 50% to 60% turnover rate. Pei Chaohui, an expert at Christie’s, suggested that the high valuations might have contributed to this. He also pointed out that price differences exist between Hong Kong and New York. Since the 1980s, Hong Kong has been a major hub for antique furniture, with many Ming and Qing pieces moving from mainland China to the region. Today, Hong Kong remains a key center for collectors and experts. Qiao Hao believes that while prices may vary by location, an international pricing framework for Ming and Qing furniture is now well established. Since China Guardian began specializing in Ming and Qing dynasty antiques in 2010, the market has experienced several fluctuations. The first autumn auction in 2010 was successful, creating a strong premium effect. However, the following year saw a market adjustment, leading to a drop in turnover. Despite some high-value items not selling, Qiao Hao notes that the market hasn’t declined overall. He attributes this to external factors, including economic conditions and the sheer volume of items offered in a single auction. Although more than 80 lots were presented, over 20 were considered “heavy” items, which the market struggled to absorb all at once. Still, the total transaction value exceeded 200 million yuan, and individual pieces maintained their value. According to Qiao Hao, the Ming and Qing antique furniture market has steadily risen since 2010, with prices increasing by two to three times. Some collectors have tracked the journey of a high-priced case sold in New York: its initial market value was around RMB 330,000, it reached HK$1.8 million in a 1996 auction, and finally sold for over $9 million. While many table cases and chairs are more widely available, their appreciation has not been as dramatic. Overall, the market remains stable and continues to attract serious collectors.

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