Bloomberg.com, 14 Oct 2008, Adam Majendie
Oct. 14 (Bloomberg) -- Two Singapore auctions of Asian art at the weekend missed estimates as a slump in global financial markets kept many buyers away.
Borobodur Auction Pte's two-day sale of Chinese and Southeast Asian art totaled S$11 million ($7.5 million), compared with a presale estimate of S$18 million, according to John Andreas, the company's founder. Rival Larasati Auctioneers' Oct. 11 sale tallied S$2.1 million, less than the S$2.5 million predicted. The auction houses released results today.
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