HONG KONG | Thu September 8, 2011 11:04 EST

HONG KONG (Reuters)-despite global dimming economic clouds, Sotheby's expects solid demand for a batch of rare Chinese ceramics of a vintage collection after a much hyped European auction of works of the same Swiss owners fell flat in April.

The Meiyintang collection, a collection of European ceramics collected over nearly half a century by pharmaceutical magnates, the brothers Zuellig, was one of the last intact traditional important private collections of Chinese ceramics up to put the block in Hong Kong at the beginning of the year.

But the sale so hyped finally disappointed with two lots of blockbuster, a Golden Phoenix Qing vase and a Chenghua Palace sublime Bowl, languishing in unsold auction block after market players blamed excessive pre-sale estimates and requirements of choking off enthusiasm of tighter credit.

The two items have found purchasers reserved after.

Sotheby, however, hopes of a second offering of 40 Meiyintang treasures to be put up for sale in October is the stoke fresh interest despite the stock market nervousness over the worsening of the debt crisis and the U.S. economic weakness in Europe.

"From a few collectors who showed you the pieces to which I am confident that the sale will do very well," Nicolas Chow, Deputy Chairman of Sotheby's Asia, told Reuters.

"There are some people who are worried about the market, but if you look like solid assets have been moving as gold and diamonds, which I see no reason to worry about Chinese art,

"An important piece of porcelain is perhaps a little less liquid than a large diamond, but at the same time, I would say that it is at least as solid asset like that".

Between the Meiyintang (Hall between Rose beds) Imperial wares is a group of objects large, physically large, including a half meter bulbosa de famille rose vase of the Qing dynasty Qianlong (1723-1735) decorated with bright pink peaches, a Chinese symbol for auspicious longevity and interlaced branches Roses which is expected to fetch up to $ 15 million.

Another, older, white and blue Meiping Vase of Ming Dynasty Yongle (1403-1425) adorned with black fruit and floral motifs is also estimated at up to $ 15 million.

It is expected that the sale of Meiyintang the whole net of $ 55 million.

CHINA RISKS, REWARDS

Chow said estimates for pre-sales Meiyintang biscuits (Hall between the rose beds) would be less aggressive than last time. But a controversial stipulation that bidders provide pre-sales deposits bolados would still be imposed to reduce the risks of buyers defaulting on payments that imperial ceramics prices rise ever higher.

Last year, a Chinese collector bid a record $ 51.6 million pounds to a Qing vase ornamented discovered in the attic of an English House, but refused to pay in a separate instance of non-payment of Chinese art.

Since then, the Sotheby's and other auction houses demanded deposits as a safeguard against such credit risks.

"At the moment when we promoted the same and when the sale took place there were market rumors around that a large vase that had been sold in Europe had not been paid. Then, there was a degree of paranoia and caution on the part of buyers, "Chow said, referring to the sale April Meiyintang.

While market players said that Sotheby's has insisted on a deposit of HK $ 8 million (US $ 1,026 million) to the Grands Crus in spring sales Hong Kong, the amount should be less this time, Chow said, without giving details.

Despite the optimism of Sothebys, your quote fell more thirty percent since April for $ 36.22, with the luxury art market often shading economic cycles. But in the end much higher market, masterpieces of Chinese art has bucked the recession rising in value as robust alternative investments.

(Situated edited by Elaine)

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