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China Guardian’s $50m Beijing Sale Reveals Shift in Market

July 13, 2017 by Marion Maneker

Enid Tsui follows up on China Guardian’s coup last month when it made a massive sale in Beijing of Huang Binhong’s Yellow Mountain (1955) for 345 million yuan (HK$396 million.) Huang hasn’t been among the platinum-plated names in Chinese classical ink painting like Zhang Daqian and Qi Baishi until now. But Tsui suggests there’s a bit more going on behind the scenes with this sale than simply the emergence of a new name in Chinese Classical painting.

First of all, the sale marks the arrival of China Guardian’s Guo Tong as powerful force in Mainland sales. Second, the Mainland is showing strength again after years of sales migrating to Hong Kong. Finally, the return of big prices in art in China itself may be a signal that other asset sectors are too clogged with government controls. The spillover is coming back to the art market.

Controls on capital leaving the country mean cash has to be stored in China at a time when there are fewer assets that can be accessed. The Huang was bought be a company, not an individual, adding to the speculation.

Here’s Tsui speaking to Guo: Continue Reading

Sotheby’s Beijing = 114,902,500 RMB ($18.39m)

June 2, 2014 by Marion Maneker

Zao Wou-ki, Sous Bois Dans La Nuit (16-24m) 35.99m RMB
Zhao Bandi, Pink Kiss (2-3m) 5.192m RMB
Chu Teh-Chun, L’Esprit de la Paix (1.2-1.6m) 2.714m RMB
Chu Teh-Chun, Rencontre (900-1.5m) 2.4m RMB
Zhu Jinshi, Yellow Autumn (500-800k) 1.888m RMB
Tu Hongtao, Mountain After Mountain (400-500k) 944k RMB

Sotheby’s Beijing Modern & Contemporary Art = $37.3m

December 1, 2013 by Marion Maneker

Zao Wou-ki, Abstraction (35-45mRMB) 89.6m RMB
Zao Wou-ki, Abstract Landscape 27.08.91 (4-6m RMB) 44.8m RMB
Chen Fei, Ambition (250-350k RMB) 5.4m RMB
Wang Xingwei, Golfer and Watermelons No. 1 (800-1.2m RMB) 3.6m RMB
Ai Xuan, Tibetan Girl (800-1.2m RMB) 3.3m RMB
Li Shuang, Red and Black (400-600k RMB) 1.8m RMB
Su Xinping, Sea of Desire No. 2 (150-200k RMB) 1.5m RMB
Tian Liiming, Sunshine Series (700-800k RMB) 1.4m RMB

Sotheby’s Announces Beijing Sales with Zao Wou-ki from Art Institute of Chicago

October 8, 2013 by Marion Maneker

Sothebys Beijing - Zao Wou-ki, Abstraction

Sotheby’s is taking advantage of its momentum this week and announcing its own Mainland sales coming this December:

Today brought the curtain down on a remarkable five-day run of 16 record-breaking auctions staged by Sotheby’s in Hong Kong, with numerous new benchmarks set in many categories. Together they realisedHK$4.196 billion / US$538 million, the highest grand total ever achieved by any global arts business operating in Asia.

In the wake of these exceptional results, Sotheby’s today unveils the top lot from its December sale in Beijing, the company’s second auction in mainland China. Estimated at RMB 35 – 45 million / US$5.7 – 7.3 million, and consigned to sale by a prestigious American institution, Abstraction by Zao Wou-Ki comes to the market as demand for the artist’s work is at an all-time high (Sotheby’s set a new record of US$10.9 million just two days ago in Hong Kong).

Beijing Poly Makes Imperial Seal Record of $25m

December 8, 2011 by Marion Maneker

Amid Western press reports that the Chinese market is slowing, mainland powerhouse Poly Auction sets a new record for an Imperial seal:

On Dec 6th, 2011 autumn sales, an imperial seal “TAI SHANG HUANG DI” was hammered at RMB 161 million, refreshing world record of both imperial seal and jades. Another seal dated Dao Guang (1831) was sold at RMB 90.85 million [14.3m]. An couple of imperial jade seals also were sold at 43.125 million [$6.8m.]

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