Andy Warhol has supplanted the Chinese ink painter Zhang Daqian as the world’s biggest seller at auction.
Sotheby’s said it has withdrawn a 20th-century Chinese painting valued at as much as HK$12.8 million ($1.65 million) after a Taiwanese Buddhist nun challenged its ownership.
A Chinese Imperial jade seal and album of calligraphy are being re-offered for sale this week after their Asian bidders failed to pay.
Pablo Picasso has been dethroned.
Sotheby’s Hong Kong auction sales doubled in the first half to HK$4.3 billion ($540 million) from the same period a year ago as demand rises, Patti Wong , chairwoman of Sotheby’s Asia, said today.
Sotheby’s five-day autumn auction in Hong Kong ended last night with a total sale of HK$2.05 billion ($263 million) as buyers pushed prices of some top lots to records and shunned others.
Sotheby’s five-day autumn sale got off to a mixed start during the weekend, setting a record for a Southeast Asian work and pulling another lot whose ownership was contested by a Buddhist nun.
A pair of diamonds each weighing almost 36 carats and a set of Chinese scrolls led sales at a Christie’s International auction in Hong Kong last night.
A marathon of competitive bidding by collectors of Chinese artworks pushed a Hong Kong auction to more than three times its estimate.
An ink depiction by Fu Baoshi of three men mulling over a game of Go fetched HK$38.7 million ($5 million) in Hong Kong, the priciest item at an auction of classical Chinese paintings marked by fervent mainland buying.