Asian buyers dominated as Sotheby’s kicked off its week of Hong Kong sales with an auction of contemporary and modern art. “Chapter of a New Century – Birth of the People’s Republic of China II,” a painting of a baby by Chinese artist Zhang Xiaogang, led the way with a price of $6.9 million, a record for the artist.
The winning bidder reportedly represented a Shanghai museum. While just 77% of the 485 lots found buyers, a number of other works sold above estimates, including Zeng Fanzhi’s 1994 “Mark Series No.5,”($2.18 million), and Cai Guo-Qiang’s screen “Man, Eagle and Eye in the Sky:People ($1.53 million). In another session, Indonesian works dominated Sotheby’s auction of modern and contemporary Southest Asian art. The highest priced lotÂ was S. Sudjojono’s 1956 “A New Dawn,” which sold for 1.38 million, more than four times its hightest estimate.
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