To Dream, to Collect

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Seems as the stagnating art market received a boost last Tuesday when a Zhang Daqian painting reached the new record high price of $34.7 million including buyer’s premium, at the first part of Sotheby’s Fine Chinese Paintings sale in Hong Kong.

 

The painting titled “Peach Blossom Spring,” (1982) broke a new world auction record for the artist when sold for more than four times its high estimate of $8.3 million (not including buyer’s premium). It was to say the least an actionfilled auction with everybody on the floor hooraying when the hammer finally came after an intense 50-minute session with over 100 bids, both in-person and via phone.

 

Zhang Daqian Peach Blossom Spring 

 

The winners of the bid was non less than notorious Liu Yiqian and his wife Wang Wei, the mainland Chinese power collector couple known for purchasing Modigliani’s Nu Couchée for $170 millions. Liu also created headlines when he purchased the world’s most expensive porcelain cup from the Ming dynasty at the wooping price of $36 millions, and then continued by taking a celebratory sip from it.

 

Liu Yiqian and Wang Wei

 

The reason behind the billionaire couple’s enthusiastic art purchases is to establish the collection of their newly founded Long Museum in Shanghai.

 

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