Press Release

Sotheby’s Hong Kong Fine Chinese Paintings Sale Totals HK$244 Million / US$31.5 Million

By Sotheby's
179 Lots Sold, 88% Sell-Through
At the Fine Chinese Paintings sale today, we were encouraged to see spirited bidding from collectors around the globe. Clients who were not able to attend the auction in person were enthusiastically bidding on the telephones and online – translating into a solid auction total. A series of masterpieces by Wu Guanzhong executed at the peak of his artistic career was 100% sold, led by a truly sublime six-foot monumental landscape painting, Heavenly Lake in Mount Changbai. With over 75% of lots sold achieving prices above their high estimates, the strong result of this season is a testament to the robust demand for top quality material with impeccable provenance.
Carmen Ip, Head of Department, Fine Chinese Paintings, Sotheby’s Asia

Wu Guanzhong Takes Top Spot

Heavenly Lake in Mount Changbai
Sells for HK$24,175,000 / US$3,119,300
(Estimate: HK$12,000,000 – 18,000,000 / US$1,548,360 – 2,322,540)

New Artist Auction Record

Ju Lian’s The Legends of Flowers
Sells for HK$7,375,000 / US$951,600
(Est. HK$2,200,000 – 2,800,000/ US$283,870 – 361,280)

Additional Highlights:

· Wu Guanzhong’s Water Alley in Jiangnan sells for HK$8,215,000 / US$1,059,981, 4 times its high estimate (Est. HK$1,500,000 – 2,000,000/ US$193,545 – 258,060)

· Wu Guanzhong’s Heavenly Lake in Xinjiang achieves HK$3,750,000 / US$483,860, 4 times its high estimate (Est. HK$700,000 – 900,000/ US$90,320 – 116,130)

· Pu Ru’s A Pocket-Sized Delight fetches HK$5,095,000 / US$657,410, 6 times its high estimate (Est. HK$600,000 – 800,000/ US$77,420 – 103,220)

· Pu Jin’s Literary Gathering in Garden sells for HK$1,875,000 / US$241,930, 5 times its high estimate (Est. HK$250,000 – 350,000/ US$32,260 – 45,160)

· Wu Hufan’s Scholar Studio by Bamboo Grove sells for HK$3,750,000 / US$483,860, 4.5 times its high estimate (Est. HK$600,000 – 800,000/ US$77,420 – 103,220)

· Wang Zhen’s Virtues of Happiness achieves HK$4,735,000 / US$610,960, 47 times its high estimate (Est. HK$50,000 – 100,000/ US$6,450 – 12,900)

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