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<nettime> SCMP: Record Prices for Chinese Art in China
nettime's asian pivot on Tue, 5 Apr 2016 10:10:37 +0200 (CEST)


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<nettime> SCMP: Record Prices for Chinese Art in China


South China Morning Post

Sotheby’s sells Zhang Daqian painting for a record HK$240 million in
Hong Kong auction
PUBLISHED : Tuesday, 05 April, 2016, 1:45pm

http://www.scmp.com/news/hong-kong/economy/article/1933693/sothebys-sells-zhang-daqian-painting-record-hk240-million

The economic slowdown failed to exert its influence in the art world on
Tuesday, as a Zhang Daqian painting sold for a record HK$240 million in
a dramatic auction.

At Sotheby’s fine Chinese painting sale at Hong Kong’s Convention and
Exhibition Centre, the hammer fell on Zhang’s 1982 hanging scroll “Peach
Blossom Spring” after nearly 50 minutes of bidding.

[”Peach Blossom Spring” is considered one of the most important works
from Zhang’s late period]

The landscape painting, characterised by splash ink and intense colour,
is considered one of the most important works from Zhang’s late period.
It had a pre-sale estimate at HK$65 million, including buyer’s premium.

The auction, which took place in a packed bidding room, started at HK$30
million.

Initial bidding raged between bidders on the phone and on the floor, but
slowed down at around HK$100 million.

Four phone bidders competed for the painting initially, with two giving
up at HK$138 million.

A mysterious new phone bidder joined the contest at HK$152 million,
sparking applause in the bidding room.

Multibillion-dollar Hong Kong spring auction season begins on uncertain
note [1]

“This is crazy,” said a buyer on the floor.

The bidding carried on and at HK$177 million another new bidder joined
the game.

Finally one of the phone bidders won, settling at HK$240 million.
Another round of thunderous applause spread through the bidding room.

[The auctioneer said it was a new world auction record for a Zhang work]

The buyer was from mainland collector Liu Yiqian’s Long Museum in
Shanghai. The final price was HK$271 million, including buyer’s premium.

Emperor Kangxi’s imperial seal to be auctioned at Sotheby’s Hong Kong [2]

The auctioneer said it was a new world auction record for a Zhang work.

Sotheby’s spring auction series continued on Tuesday.


Links
[1]
https://www.scmp.com/lifestyle/arts-entertainment/article/1932888/multibillion-dollar-hong-kong-spring-auction-season
[2]
https://www.scmp.com/news/hong-kong/article/1924646/emperor-kangxis-imperial-seal-be-auctioned-sothebys-hong-kong
[3]
http://www.scmp.com/news/china/money-wealth/article/1931385/billionaire-chinese-couple-spend-more-half-their-income


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