The First Art Newspaper on the Net Established in 1996 United States Friday, August 29, 2014


Chinese Classic Scroll Painting Sells for Record $24 Million
HONG KONG (REUTERS).- A rare, classical scroll by a Ming dynasty artist fetched $24.8 million at a Beijing sale, the highest price ever paid for a Chinese painting at auction, in a positive sign for the downturn-stricken Chinese art market.

The painting, "Eighteen Arhats" by 16th century Ming dynasty painter Wu Bin, was sold to Shanghai private collector Liu Yiqian for 169.1 million yuan including commissions, almost eight times its pre-sale estimate of 20 million yuan, said auctioneers Poly International.

The Chinese art market which was hit hard by the financial crisis, particularly Chinese contemporary art, has been showing signs of recovery, with exceptional objects and more traditional collecting categories commanding stratospheric prices again.

The scroll was one of three blockbuster works that exceeded or hovered near the 100 million yuan mark during the autumn sales season in Beijing by Poly International, in a strong year-end showing for the Chinese art market.

"The (classical) Chinese art market has now reached the 100 million yuan level, and given China's economic strength I find this to be a natural development," Li Da, the general manager of Poly International, told Reuters.

The result was over double the previous world record for a Chinese painting, "Red Cliff Handscroll," a Ming dynasty masterpiece by Qiu Ying that was hammered off for $10.7 million in 2008 before the financial crisis hit. Before that, "Put Down Your Whip" by Xu Beihong had sold for a then-record $8.2 million.

"Eighteen Arhats," a meticulous rendering of a journey by eighteen monks through a mountainous landscape, accompanied by mythical animal consorts, was once owned by the Qianlong emperor whose own calligraphy adorns the scroll.

"Only the Chinese can truly appreciate the spirit, the philosophy and historical importance of such classical Chinese paintings," said Li.

"I feel classic Chinese art is still undervalued compared with the prices paid for Western Impressionist and contemporary paintings by artists like Picasso or Renoir," she added.

Another classic work, a "letter leaf" of calligraphy by Song dynasty scholar Zeng Gong fetched 108.6 million yuan ($15.91 million), a new auction record for Chinese calligraphy.

Both the scroll and letter leaf had come from the collection of European collector Guy Ullens and his wife Myriam.

Another highlight was a "flowers and insects album leaf" by Chinese artist Qi Baishi that went for 95.2 million yuan, which the auction house said was a record for the artist.

(Editing by Miral Fahmy)


Poly International | Ming dynasty | Chinese Art Market |


Today's News

November 26, 2009

David Hockney's Bigger Trees Near Warter Presented at Tate Britain

mima Acquires Works by Legendary American Artist Ellsworth Kelly

New Jackie Kennedy Dress on Display at John F. Kennedy Library

The BBC and British Museum Announce "A History of the World"

Christie's December Photographs Sale Offers Exceptional Array of Works

Exhibition of Early Photographs by Weegee at Michael Hoppen Gallery

Leonardo's "Angel in the Flesh" to Make Appearance with Work by Bill Viola

Never-Before-to-Market Collections of Native American Art for Sale

Paris Photo 2009: Record Numbers of Visitors and Contrasting Sales

Reynolda to Feature Works of Mid- Nineteenth Century American Expatriates

Margaret Thatcher Returned to London's Downing Street to Unveil Portrait

Decorative Arts and Carpets from the Corcoran Gallery Realize $7,328,713

Cindie Cheung Wins Zabludowicz Collection Future Map Prize

Martin Boyce's 2009 Scotland + Venice Artworks to be Presented in a New, Specially Curated Exhibition

Historic Judaica from West Country Sells for 175,000 Pounds at Bonhams

Touring Exhibition Opens in Scotland's National Architecture Centre

Utopia And The Everyday: Between Art and Education at Centre d'Art de Geneve

Cepezed Designs New Headquarters for Environment Brussels

De La Warr Pavilion Announces Retrospective of Richard Grayson's Work from the Past Five Years

Chinese Classic Scroll Painting Sells for Record $24 Million

Most Popular Last Seven Days



1.- Neanderthals and humans were both living in Europe for between 2,600 and 5,400 years

2.- First major exhibition to explore the historical legacy of African cultural astronomy opens at LACMA

3.- Carlo Mollino's idealized vision of the female form in new book published by Damiani/Crump

4.- Tate Britain displays works by Frank Auerbach from the collection of Lucian Freud

5.- In grave robber territory, locals abuzz over Alexander-era tomb; Largest of its kind ever discovered in Greece

6.- Lambert Collection opens an ambitious project housed at the Sainte-Anne Prison

7.- Centre for Contemporary Art Singapore announces the first 18 artists in the CCA Residencies progamme

8.- Historic Kings Theatre is transformed into major New York Performing Arts venue

9.- Thirteen's American Masters Series co-produces new documentary about photographer Dorothea Lange

10.- Sotheby's New York to offer 548 Edward Weston photographs as a single lot this September



Museums, Exhibits, Artists, Milestones, Digital Art, Architecture, Photography,
Photographers, Special Photos, Special Reports, Featured Stories, Auctions, Art Fairs,
Anecdotes, Art Quiz, Education, Mythology, 3D Images, Last Week, .

 

Founder:
Ignacio Villarreal
Editor & Publisher: Jose Villarreal - Consultant: Ignacio Villarreal Jr.
Art Director: Juan José Sepúlveda Ramírez - Marketing: Carla Gutiérrez
Special Contributor: Liz Gangemi - Special Advisor: Carlos Amador
Contributing Editor: Carolina Farias

Royalville Communications, Inc
produces:

ignaciovillarreal.org theavemaria.org juncodelavega.org facundocabral-elfinal.org
Founder's Site. The most varied versions
of this beautiful prayer.
Hommage
to a Mexican poet.
Hommage
       

The First Art Newspaper on the Net. The Best Versions Of Ave Maria Song Junco de la Vega Site Ignacio Villarreal Site