Biz Unusual

Price of Chinese contemporary art hits record high

(Xinhua)
Updated: 2010-05-18 15:58

The Aachensee?by Zhang Daqian. [chinanews.com]

A huge silk Chinese painting by Zhang Daqian, one of the best-known Chinese artists of the 20th century, went for nearly $15 million on Monday.

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The painting "Aachensee" -- auctioned at the China Guardian 2010 Spring Auctions Monday night -- was sold for 100.8 million yuan ($14.7 million), Guo Tong, general manager of Guardian's modern and contemporary Chinese painting and calligraphy department, said Tuesday.

This was the first time that a modern contemporary Chinese painting had gone for over 100 million yuan, Guo said.

The work is 264.2 centimeters long and 76.2 centimeters wide. It was painted in 1968 by Zhang, inspired by his visit to Lake Aachensee in Europe, and has been exhibited in New York, Boston and Chicago. The landscape painting is widely recognized as a masterpiece.

It's the first time the painting has gone on the market and the price revealed collectors' enthusiasm, Guo said.