The piece's authenticity was questioned by several experts from the Shanghai Museum.

At the just-concluded Asia Week sales, art news portals, however, said they sensed a waning of interest from Chinese collectors.

Private collectors and art dealers said they saw an obvious decline in the amount and quality of works on offer, especially when compared to the March sales which were prompted by the auctioning of the collection of the late Asian art dealer, Robert H Ellsworth.

A key reason for the declining interest is the gradual drying up of sources of classical Chinese art in the European and American markets. The markets have consumed top-notch accumulations by prominent Chinese art collections over the past decade, while a new generation of collectors have not yet come out or have lost interest in Asian art.

Sotheby's response to the change has been to shift its attention from old masters to second-and third-tier ancient painters, such as Ming Dynasty painters Huang Daozhou and Ju Jie.

Works by both painters were auctioned at Thursday's sale in New York.

"Overseas buyers care a lot about building a collection hierarchy," says Fang Xian from Sotheby's classical Chinese painting department in New York. "They've already put together works of masters. Now they need quality works of lesser-known artists, offered at a modest price range, to enrich their collection.

"Hence we will keep looking for 'fresh goods (an auction term for works that seldom or first appear in the market)', and cater to their diversified needs," he told China Daily during Sotheby's Beijing preview.

The cooling of the New York market will help Hong Kong enhance its stature as a world trade center of Asian art.

After buying in New York's salesroom, many Chinese buyers store the works in Hong Kong, an ideal port because of its tax-free policy and art storage service.

Fang says the Hong Kong market will still be dominated by quality works by established artists, a long-lasting taste of Chinese buyers.

He adds that the flow of classical Chinese art from overseas back to Asia will boost communication between Asian collectors and those in Europe and the United States, reigniting their interest in collecting Asian art.

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