Oct 10, 2006, 5:18 GMT
Hong Kong - A Taiwanese modern work of art has sold for 4.4 million US dollars in Hong Kong, breaking the auction record for a Chinese oil painting.
Sotherby's Hong Kong said Tuesday it took several minutes of intense bidding for the landscape painting by modern artist Chen Chengbo to reach the record price, which was triple is pre-sale low estimate of 1.2 million US dollars.
The painting, one of only four showing the picturesque city of Danshui north of Taipei by Chengbo, was bought by an undisclosed private collector.
Sotheby's Hong Kong deputy director Evelyn Lin said they were delighted with the sale which reflected the increase in international interest in Chinese contemporary art over the last decade.
The painting was one of 160 works on sale at the auction of modern and contemporary Chinese art at Sotheby's Hong Kong Monday.
Total sales reached 21.9 million US dollars, representing a record in this category for Sotheby's and the fifth time it had broken its record for a sale of Modern and Contemporary Chinese Art.
The second highest price in the modern section, was 1 million US dollars paid for a bronze sculpture titled Single Whip, by Zhu Ming, a record for the artist at auction.
In the contemporary section, the oil on canvas work Big Family Series: No 15, by Zhang Xiaogang, achieved a price of 1.1 million US dollars, also a record at auction for the artist.
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