Auction - Fine Chinese Paintings sky-rocket at Sotheby's sale

Sotheby’s Hong Kong Fine Chinese Paintings Spring Sale 2010 achieved a total of US$53.6 million, the highest total Sotheby’s has ever achieved for such sales with paintings from various-owners. This figure includes the sale from the Robert Chang Collection (Part 3), which itself didn't fare as well with only 56.7 percent of the lot sold, though raising $14.5 million alone. The sale of Fine Chinese Painting sold 97 percent of its lots, raising $39 million, with the top 10 lots going to Asian private buyers. Bidders frequently ignored presale estimates to pursue desirable works: Fu Baoshi's Chess Playing (photo) from 1943 sold for $4.9 million multiplying the estimate, while Zhang Daqian’s 1981 Hanging Scroll Landscape brought $2.8 million and his 1948 Landscape After Ancient Master more than tripled its high estimate to fetch $2.09 million; Pan Tianshou’s Hen On The Rock fetched $2.23 million, doubling its high estimate. From the Robert Chang Collection (Part 3), the renowned ink master Qi Baishi’s exceptional work Tiger commanded the stronger price of over $4.1 million and there was keen competition for the works of Fu Baoshi and Lin Fengmian as well.