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Sotheby's Hong Kong Fine Chinese Paintings Spring Sale 2014 achieves US$50.5 million
Auction scene of the Fine Chinese Paintings sale on 7 April 2014. Photo: Sotheby's.

HONG KONG.- C.K. Cheung, Head of Sotheby's Chinese Paintings Department, said: “We are pleased with the results of today’s sale, which more than tripled the pre-sale estimate to bring HK$393.6 million / US$50.5 million. Much of the sale was sourced through Sotheby's unrivalled global network with some of the most outstanding works coming from Europe and North America, and represented one of our largest ever sales in this category. Collectors responded to our meticulous selection with tremendous enthusiasm, resulting in exceptional prices across all parts of the auction with 97.3% of the works selling and 83% exceeding their high estimates.

“The sale was led by Zhang Daqian's Landscape in Afterglow, which soared over the high estimate as we attracted multiple bidders to a remarkable splashed-ink-and-colour work that had been in an American private collection. This demand for paintings which had been in distinguished overseas collections for prolonged periods was evident throughout the sale with the record-setting Roaring Lion by Gao Qifeng from A North American Collection; an example of Zhang Daqian’s signature splashed-ink lotus work, Lotus in the Wind, from The Museum of Modern Art, New York sold to benefit the acquisitions fund; Xu Beihong’s Horses from a European Private Collection; all achieving superb prices, often many multiples of the high estimates.”

Top Lot of the Sale
Zhang Daqian’s Landscape in Afterglow
Fetches HK$24.2 million / US$3.1 million
(Est: HK$5 – 7 million / US$640,000 – 897,000)

Other Notable Prices Achieved
Qi Baishi’s An Assemblage of Fruits
Achieves HK$21.4 million / US$2.74 million
(Estimate on Request)

Gao Qifeng’s Roaring Lion
Commands HK$15.64 million / US$2 million
(Est: HK$1.8 – 2.5 million / US$230,000 – 320,000)
- New Record for the Artist at Auction -

Zhang Daqian’s Lotus in the Wind
From The Museum Of Modern Art, New York
Brings HK$14.44 million / US$1.85 million
(Est: HK$5 – 7 million / US$640,000 – 897,000)

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