Zhang Daqian landscape offers $189,900 temptation to investors
An attractively valued Zhang Daqian landscape is coming to auction in Beijing on June 16
Paul Fraser Collectibles, Monday 11 June 2012
A Zhang Daqian (1899-1983) landscape is expected to feature prominently at an upcoming art auction in Beijing.
The June 16-18 sale will contain 5,000 lots of Chinese paintings, porcelain and furniture, with Modern pieces on the 16th the anticipated stars.
The Daqian has a high estimate of $189,900, a comparatively modest figure for the artist, which may tempt those looking to capitalise on the popularity of the painter.
Daqian's Lotus and Mandarin Ducks sold for $24.6m at Sotheby's in 2011, setting a new record for the artist.
$506.7m in sales. His compatriot Qi Baishi was second, achieving $445.1m.
Qi Baishi will also feature at the auction, with his Camellia estimated to make $102,870.
Landscapes by Yu Feiyan, Li Keran and Soong May-ling will also be on offer, in addition to a collection of eight Tian Liming pieces.
China's share of global art sales rose to 30% in 2011, up from 23% in 2010, a European Fine Art Foundation report found. It overtook the US as the world's largest art market in the process.
The Chinese art and antiques sector grew by 64% in 2011, the report states.
"The increase in the number of Chinese billionaires (and millionaires) has led to an increase in demand for fine art. I've witnessed this myself at art auctions," Carol Marie Boyer, associate professor of finance at Long Island University, recently told US News.
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Images: China Guardian