Contemporary Chinese oil painting fetches $23.6 mln at auction

21.11.2011 [14:03]
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Baku, November 21 (AZERTAC). An oil painting by contemporary artist Wu Guanzhong was sold late Saturday for 149.5 million yuan (about 23.6 million U.S. dollars) at an auction held by Beijing-based auction house A&F.

The painting, entitled "Ten Thousand Kilometers of the Yangtze River," was created between 1973 and 1974 and is considered to be one of the artist`s best works.

Born in 1919 in the city of Yixing in east China`s Jiangsu province, Wu is widely recognized as the father of contemporary Chinese painting. He died in July 2010 at the age of 91.

The high-profile deal, one of the latest amid the exponential growth of the Chinese fine art market in recent years, also marks the highest price to date for one of Wu`s paintings.

Earlier this month, an album of 12 landscape paintings by famed contemporary painter Qi Baishi was sold by Beijing-based China Guardian Auctions Co., Ltd. for 194 million yuan.

Contemporary Chinese oil painting fetches $23.6 mln at auction

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