Chinese Classical paintings outperform contemporary works

The 2-day sales of Fine Chinese Classical Paintings and Calligraphy and Fine Chinese Modern at Christie's Hong Kong raised $99.8 million with an overall sold rate of 86% by lot and 92% by value. This was a rather strong result after the disappointing sales of contemporary art (see previous post).
The top lot Lotus, a set of exceptional modern scrolls by Cui Ruzhuo, realized $15.9 million, far exceeding its estimate and breaking the world auction record for the artist.

Zhang Daqian

In the modern category, Zhang Daqian, Xu Beihong and Qi Baishi remained very much in favor, while in the classical category, Landscapes and Poems, a set of ten album leaves, achieved $2.95 million and became the top lot of the Fine Chinese Classical Paintings and Calligraphy sale, exceeding its estimate and demonstrating the continued appeal of this particular market.

Xu Beihong

SHEN SHICHONG (16TH-17TH CENTURY) / CHEN JIRU (1558-1639) - Landscapes and Poems