Zhang Daqian landscape up 119.1% on estimate

A landscape by Chinese artist Zhang Daqian (1899-1983) has trounced its estimate at a June 16-18 art auction in Beijing.

The work sold for $415,980, 119.1% above the $189,900 high valuation.

Zhang Daqian landscape
Wealthy Chinese are flocking to Daqian


The post-1949 work is quintessential Daqian, depicting two figures striking up a mountain - archetypal pieces from an artist's oeuvre tend to perform best at auction, as opposed to more atypical works.

It is further good news for Daqian collectors, with the world's best-selling artist in 2011 continuing in similar vein in 2012.

His Lotus and Mandarin Ducks sold for $24.6m at Sotheby's in 2011, setting a new record for the artist, helping him to $506.7m in sales last year.

Compatriot Qi Baishi was second in last year's list, achieving $445.1m. His Camellia also performed superbly at the three-day auction, beating the $102,870 high estimate by 304.3% with a $415,980 performance.

A recent report by the European Fine Art Foundation revealed that China's share of global art sales rose to 30% in 2011, up from 23% in 2010, overtaking the US as the world's largest art market in the process.

The Chinese art and antiques sector grew by 64% last year, the report states, with the country's expanding number of wealthy inhabitants, keen to repatriate their country's rich heritage, thought to be behind the figures.

A June 2012 investigation into global trends by Barclays found that 17% of high-net worth individuals in China own collectibles, significantly above the 10% global average, with art, jewellery and precious metals the three most popular commodities in the country.

Ensure you keep up to speed with the art world by signing up to our newsletter.



Featured products

Elvis Presley Authentic Strand of Hair
Elvis Presley Authentic Strand of Hair
Sale price£399
In stock
Fidel Castro signed certificateFidel Castro Signed Certificate
Fidel Castro signed certificate
Sale price£2,995
In stock
King Henry VIII Autographed DocumentKing Henry VIII Autographed Document
King Henry VIII Autographed Document
Sale price£55,000
In stock