Schwenke Auctioneers - August Fine Estates Auction - August 28

Record Setting $65 Million Chinese Painting Tops Strong Sale in Hong Kong

  • October 01, 2018 15:37

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Juin-Octobre 1985" by Zao Wou-ki.
Sotheby's

CNN: A painting by the Chinese-French painter Zao Wou-Ki sold for a record 510 million Hong Kong dollars ($65 million) Sunday, leading one of Asia's largest ever art auctions.

The artist's abstract work "Juin-Octobre 1985" is now the most expensive painting ever to go under the hammer in Hong Kong, according to Sotheby's. It was a record-breaking evening at the auction house, which sold $200 million worth of art at the sale. 
The price was 28 times what Taiwanese businessman Chang Qiu Dun had paid in May 2005 for the work. He spent $2.3 million for ‘Juin-Octobre 1985,’ according to Bloomberg.

Read more at CNN


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