Chinese painter’s work sells for record high amid sluggish sales in art market
Pan Tianshou painting goes under the hammer for 279 million yuan at auction in Beijing
A painting by a modern Chinese painter has fetched a record price for his work, despite sluggish sales in China’s art market.
The picture, Eagle, Rock and Flora, by Pan Tianshou was sold for 279 million yuan (HK$354 million) by the auction house China Guardian at a sale on Sunday.
The picture of an eagle standing on a flower-covered rock was previously auctioned in 2005 for 11.7 million yuan.
The name of the buyer was not released and the painting went under the hammer after an hour of bidding, The Beijing News reported.
Pan died in 1971 and was well known for his traditional Chinese painting style.
Zhao Xu, executive director of auctioneers Poly Auction, said art sales were sluggish in China, but pieces by well-known artists were able to buck the trend if buyers particularly loved their work.