An ink-and-color work of famous painter Zhang Daqian (張大千), who passed away in 1983, has fetched an eye-popping HK$271 million at a Hong Kong auction on Tuesday.
The painting saw frenzied bidding, with around 100 bids in 50 minutes, yielding a new record price for a work of the late Chinese artist, Apple Daily reported.
The art piece, which is entitled “Peach Blossom Spring”, was sold to Shanghai merchant and art collector Liu Yiqian during the Sotheby’s spring auction here.
The final price was way beyond original estimates, which had ranged from HK$50 million to HK$65 million.
Liu is well known for his extensive collection, including the palm-sized Ming Dynasty “chicken cup” that he bought last year for HK$281 million.
“Peach Blossom” was created in 1982 in Taiwan by Zhang using his famous splashed ink and color technique and had been kept at the National Palace Museum in Taipei prior to an auction.
The painting was auctioned for HK$1.87 million in 1987 and became a part of the The Mactaggart Art Collection of the Canadian Mactaggart couple, who are philanthropists and collectors of Asian art.
Following the latest auction, Zhang has topped another famous painter Qi Baishi (齊白石) as the highest grossing Chinese artist, with a cumulative auction sales of HK$1.8 billion.
C.K. Cheung, head of Chinese Paintings Department at Sotheby’s, noted in a statement that Peach Blossom is considered to be “a pivotal work from Zhang’s late years, alongside Mt. Lu, another landscape by Zhang which is currently held by the National Palace Museum in Taiwan”.
What tea tastes like from a US$36 mln cup (July 21, 2014)
- Contact us at [email protected]