The First Art Newspaper on the Net Established in 1996 United States Friday, December 19, 2014


Failed Marx letter sale disappoints Chinese capitalists
A Karl Marx figure in German national colors is pictured on a balcony on July 17, 2014 in Cologne, Germany. AFP PHOTO / DPA/ OLIVER BERG.
SHANGHAI (AFP).- A letter by the late Karl Marx, the German philosopher who offered an alternative to capitalism, has failed to sell in Communist-ruled China because the auctioneer set too high a price.

The Shanghai-based Hosane auction house set a starting price of 8.0 million yuan ($1.3 million) but failed to find a single bidder on Monday, the Global Times newspaper reported.

The 1869 letter, owned by a Chinese collector, was written by Marx while he was in the British city of Manchester.

The same letter was reportedly sold by the Christie's auction house in 2008 for 6,000 pounds ($10,246), far higher than its original estimate of 1,000 to 1,500 pounds.

The auction house had expected a buyer to pay a premium to own a piece of Marxist history, amid a collecting boom in China as incomes rise.

But Shanghai collector Liu Debao, who specialises in "revolutionary" items, told the newspaper the price was too high.

"The price is unreasonable and frightens away interested buyers," he was quoted as saying.

Although ruled by the Communist Party, China's economic reforms since 1978 have loosened the state's grip on some sectors of the economy and created thousands of multi-millionaires.



© 1994-2014 Agence France-Presse





Today's News

July 24, 2014

Recovered Matisse "Odalisque in Red Pants" shown in Venezuela after mystery theft

Globally unique 3D scanner developed by Fraunhofer IGD in use in a museum for the first time

First exhibition by Japanese artist Takashi Murakami in a public space in Italy opens in Milan

'A Memorable Life: A Glimpse into the Complex Mind of Bobby Fischer' opens at the World Chess Hall of Fame

The UC Berkeley Art Museum and Pacific Film Archive presents 'Looking Intently: The James Cahill Legacy'

Henry Moore Institute in Leeds opens exhibition dedicated to the work of artist Gego

Printed Books, Maps and Manuscripts achieve top prices at Bloomsbury Auctions

Mexico City-based artist Pia Camil's first solo exhibition in Los Angeles on view at Blum & Poe

A.H. Baldwin & Sons Ltd announces one of the largest coin sales to date in Hong Kong

Provocative and pioneering work of leading Australian artist David McDiarmid on view in Melbourne

United Kingdom street art pioneer Sickboy opens exhibition at the Outsiders

J Dilla Hip-Hop Collection donated to National Museum of African American History and Culture

The California African American Museum presents 'Curvature: Lines and Shapes'

Fast Forward: Mallett Antiques to bring the London Design Festival to Mayfair

Jeffrey S. Evans & Associates to hold eclectic two-day auction August 22 & 23

Wysing Arts Centre announces names of the artists taking part in its residency programme for Autumn 2014

High Museum of Art transforms Piazza with interactive design installation

Application process opens for S&R Washington Award

Exhibition by emerging artists Bongsu Park and Keita Miyazaki opens at rosenfeld porcini

Slit Backdrop: Pavlov's Dog in Berlin opens exhibition of works by Philipp Dorl

Failed Marx letter sale disappoints Chinese capitalists

Most Popular Last Seven Days



1.- Colossal statue of Amenhotep III unveiled on the west bank of the Nile in Egypt

2.- British royals crown New York visit with gala dinner

3.- Missing artwork rediscovered in "Stuart Little" sells for over 200,000 euros at auction

4.- Rossetti's Venus Verticordia soars at Sotheby's in London to sell for £2.88 million

5.- Russian magnate buys, then returns Nobel prize to American geneticist James Watson

6.- Egyptian Museum unveils four newly renovated halls of the famed Tutankhamun gallery

7.- 'The Secret of Dresden: From Rembrandt to Canaletto' on view at the Groninger Museum

8.- Cooper Hewitt Smithsonian Design Museum reopens after three-year renovation

9.- More than 200 queries about works by possible heirs received on Nazi-era art hoard

10.- Attorney, artist and filmmaker reflects on the seven lessons learned at 2014 Art Basel Miami Beach



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