Sunday, May 25, 2008

CHINESE PAINTING SELLS FOR RECORD 9.7 MILLION DOLLARS IN HONG KONG

A painting that uses imagery from China's Cultural Revolution sold for 9.7 million dollars at an auction in Hong Kong, setting yet another new record for Chinese contemporary art.Zeng Fanzhi's "Mask Series 1996 No.6" sold for 74.2 million Hong Kong dollars at the evening sale run by auction house Christie's on Saturday, a spokeswoman for the event told.
The painting depicts eight figures wearing red scarves reminiscent of the "Little Red Guards," a movement inspired by Communist chief Mao Zedong that persecuted millions in China in the 1960s and 1970s for capitalist ideology.
The painting pipped the record for Chinese contemporary art set last November in Hong Kong by Cai Guoqiang's "Set of 14 drawings for Asia-Pacific economic co-operation," which sold for 9.5 million US dollars, the spokeswoman said.The evening sale fetched a total of 60.1 million dollars.
"With robust bidding from all corners of the globe, collectors and connoisseurs enthusiastically vied for the best quality works," Eric Chang, head of Asian contemporary art for Christie's said in a statement.Much of the work clinching the huge auction prices uses imagery from the Cultural Revolution and the 1989 Tiananmen Square massacre.

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