Another packed sale in Hong Kong, another astonishing result: Earlier today Sotheby’s sold every work but one in a 308-lot auction of Fine Chinese Paintings, which brought in $83 million, more than four times what had been estimated. Top lot, as anticipated, was “Spring Mountains in Sichuan” by Zhang Daqian. What was not expected was the price of $8.27 million, more than three times the estimate for the work.
It was the highest total ever for a sale of Chinese Paintings at Sotheby’s, at which other works by Zhang Daqian, Wu Guanzhong, Qi Baishi and Fu Baoshi also sold exceptionally well. “The auction market for fine Chinese paintings,” noted Sotheby’s C.K.Cheung,” goes from strength to strength.”
Read more at Sotheby’s.