Zhang Xiaogang, Forever Lasting Love, 1988 (est. $3.2-3.9 million, realized $10.1 million), via Sothebys.com
The auction record for a work by a living Chinese artist was set on Sunday at Sotheby’s Hong Kong during a 105-lot sale of works from the Ullens collection of contemporary Chinese art. The white glove sale realized $54.8 million – more than triple its high presale estimate of $16.7 million.
More text and images after the jump…
Nearly every lot flew past its presale estimate, and Zhang Xiaogang‘s tryptic was no exception. The catalog notes that one panel of the tryptic was sold after it was exhibited at the 1989 China/Avant Garde exhibition at the National Art Gallery in Beijing. The three canvases were reunited for the first time since 1989 at the Sotheby’s auction. The artist’s previous record was set during last October’s Contemporary Asian Art sale, also at Sotheby’s Hong Kong, when Chapter of a New Century – Birth of the People’s Republic of China II (1992) sold for $6.7 million.
Sotheby’s e-Catalog [Sotheby’s]
Art Sale Sets Record for Living Chinese Artist [New York Times]
Chinese Contemporary Art Roared to New Records at Sotheby’s Flawless, $55 Million Ullens Collection Sale [ArtInfo]