Zhang Daqian’s ‘Lotus’ Sells for $10.4 MillionPosted: June 2, 2013
By Jason Chow
A set of four hanging scrolls by 20th-century Chinese ink painter Zhang Daqian sold for $10.4 million, more than five times its pre-sale estimate, at a Christie’s auction in Hong Kong on Tuesday afternoon.
Titled “Lotus,” the four large paper scrolls – each more than five feet high and 2.5 feet wide – depict lotus flowers in various state of bloom. Completed in 1947, the work was estimated to achieve $1.9 million, but brisk bidding in the room pushed the price far above that figure before going to an Asian private buyer.
In 2011, Mr. Zhang was the top-selling artist in the world at auction, but sales of his works fell to $241.6 million in 2012 from $782.4 million the year before. As a result, the artist’s sales ranking dropped to No. 4 after Andy Warhol, Pablo Picasso and Gerhard Richter, according to figures compiled by Artnet.
Sales of Mr. Zhang’s works are once again going strong. On Monday night, Sotheby’s sold 25 works by the artist for $42 million at a sale in Hong Kong. The most expensive work sold was “Daoist Goddess Playing Panpipe,” a 1955 painting that fetched $9.5 million.
via Scene Asia – WSJ.