Italian painter Giuseppe Castiglione’s Qing dynasty art set to fetch HK$100 million at Hong Kong auction
Six bidders have expressed interest in Eight Horses by Castiglione, who served as a missionary in China in the 18th century
A rare Qing dynasty painting is expected to fetch HK$100 million when it goes under the hammer on Tuesday, as local auction house Paragon International reports demand is holding up for high-value art pieces despite the economic downturn.
At least six bidders have already expressed interest in the piece by Italian painter Giuseppe Castiglione, who served as a missionary in China in the 18th century and was called Lang Shining in Chinese. The majority of the prospective buyers are mainland investors, though two hail from Hong Kong.
The painting, from 1755, titled Eight Horses, has been put on sale for the first time by its undisclosed American owner, who is selling the rare piece in Hong Kong at a time when buyers are turning to durable investments such as classic artwork amid volatility in other assets.
An American bidder has also expressed interest in the work, which is thought to have been kept in the United States sometime before 1949.
Between 100 and 200 pieces of art exist by Castiglione, whose legacy includes a number of portraits alongside still life and landscape pieces. The majority belong to museums in Beijing and Taipei and are not available to private collectors, which has bumped up the value of this piece.
“[There is demand] from big collectors in China who focus on Chinese art for this piece,” said Lu Qiulian, president of Paragon, describing how unfavourable stock market conditions are leading investors to the art world.