10/04/2011 08:31 pm ET Updated Dec 04, 2011

Marathon Art Sale Raises Record $94.8 Million, Triple Estimate

Oct. 5 (Bloomberg) -- A marathon of competitive bidding by collectors of Chinese artworks pushed a Hong Kong auction to more than three times its estimate.

Sotheby's biggest Chinese fine-painting sale ended last night after almost 12 hours and 364 lots. Its total of HK$738.3 million ($94.8 million) including fees was the highest for the New York-based auction house in that art category. The presale estimate was HK$200 million at hammer prices.

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