China Guardian’s sale in Beijing on Monday was lively with one work selling for $50m suggesting that some of the excitement has returned to the Mainland’s art market.
China Guardian’s parent company is the largest shareholder in Sotheby’s. The work, Huang Binhong’s Yellow Mountain was one of the artist’s last works painted in 1955. The ink painting made seven times the previous price paid for it six years ago:
Huang’s momentum mountain-and-water piece, Yellow Mountain, grossed 345 million yuan ($50.6 million) at China Guardian Auctions’ sale in Beijing on Monday, an auction record for the artist.
The painting fetched 47.7 million yuan at a Beijing auction in 2011.
Last night it aroused a bidding war and was sold to Shandong-based electric vehicle manufacturer Levdeo.