A five-day auction of Asian artwork at Christie’s in Hong Kong sold 35 percent less than its presale estimates in another sign of the declining global economy’s impact on the art market, Reuters reported. The auction had been expected to take in more than $225 million, but it ended Wednesday with total sales of $146 million, and more than 30 percent of its 2,400 lots went unsold. A Christie’s Hong Kong auction in May ended with total sales of $310 million, an all-time high for its Asian offerings. “Like all markets we are affected by confidence, and we’ve definitely ... (more)