The excellent results of auctions of Chinese art Sotheby's

News from Hong Kong. The painting of the artist, Liu E (Liu Ye, p. 1964) brought at Sotheby's on April 5 record 2.5 million dollars (19,1 million in the Hong Kong currency). Preliminary assessment of cloth, which is called "Shining Path", was 580-840 thousand dollars. This is the most expensive work of contemporary Chinese art from all that were sold at public auction in the past two years. According to the participants of the art market, prices in this segment are returned to pre-crisis level.

threshold of one million dollars crossed seven works by contemporary artists. The most active were the buyers from mainland China and Indonesia. The auction brought a 18.7 million dollars (145 million Hong Kong dollars).

the same day, held an auction, which was presented to the art of Southeast Asia and Chinese art of the twentieth century. Top lot was the first picture of the Indonesian Lee Man Phone (Lee Man Fong), pushed for 3.3 million dollars. The amount was a record not only for the artist, but also for the whole art of South-East Asia. At the second auction a great result showed the post-war abstraction Cao Wu-Ki (Zao Wou-Ki), bought for 2.7 million. The work exceeded the upper estimeyt more than doubled.

Last year, Cao Wu-Ki (b. 1921) was lucky to bid much more than his younger colleagues. According artprice.com , its auction revenue increased by 6, $ 3 million. As far as contemporary art, the price for it fell by 70%compared to the peak, which occurred in May 2008 (when one of the paintings of Zeng Fanchzhi (Zeng Fanzhi) has brought 9.7 million dollars). A year ago, the auctions of contemporary art to overlook the work that cost does not exceed one third of today's money (and this at a comparable quality lots). "Less risky" antiques, during the speculative boom in the shadow of "aktualschikov", in 2009, enjoyed incomparably b about give higher priority.

Demand classics yet reaffirmed auction Sotheby's, the following day, April 6. Proceeds of the auction, dedicated to traditional Chinese painting, was 53.8 million - a record at Sotheby's in this category. The largest amount - $ 5 million - has brought the picture Fu Baoshi (Fu Baoshi) with the image of men playing in the second. Final price is five times higher than estimated. Total vast work was nine, among them - "Crouching Tiger" Baixo Qi (Qi Baishi), pushed for 4.1 million dollars. Last year, Chi took third place on the auction revenue, overtaking Matisse, Giacometti, Monet, and other heavyweights of the art market.

material prepared Yulia Maksimova, AI

Source: bloomberg.com , artinvestment.ru