A painting by Zhang Xiaogang set an auction record for a work by a contemporary Chinese artist last night as Asian buyers competed at a HK$427.2 million ($54.9 million) sale by Sotheby’s in Hong Kong.
A porcelain cup sold for HK$281 million ($36 million) at Sotheby’s Hong Kong today, setting an auction record for a Chinese work of art.
Inside Art Basel Hong Kong at the city’s convention center there’s a booth where guests can apply for instant citizenship to the Republic of Jing Bang.
“Every morning I wake up between 7 a.m. and 8 a.m., have a cup of coffee, read the news and head to the studio,” says artist Zhang Xiaogang, “where I stay until 10 p.m. to 11 p.m.”
Yue Minjun has every reason to laugh. In 2007, one of his paintings sold at Sotheby’s in London for 2.9 million pounds ($4.47 million).
Wuhan Iron & Steel Group , Angang New Co. and rival Chinese mills are expanding overseas and turning to specialty products to battle overcapacity in China, the world’s biggest producer of the metal.
Pablo Picasso said art should never be exposed to those who aren’t sufficiently prepared for it. Three sales in Hong Kong this week will show whether Asia is sufficiently prepared for Picasso.
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.
Swiss art collector Uli Sigg has donated HK$1.3 billion ($170 million) worth of contemporary Chinese art to a Hong Kong museum scheduled to open in 2017.
"Big Family No 2."
- Zhang Xiaogang on Mar 29, 2012