“Forever Lasting Love” oil triptych by famous Chinese artist Zhang Xiaogang recently fetched HK $79 million (approximately USD $10.1 million) at Sotheby’s in Hong Kong. The oil painting shows half-naked figures in a dusty, arid environment and surrounded by mystical symbols. The auction was a notable success, with all works finding generous new owners and pre-sale estimates exceeding everyone’s expectations.
Gu Zhenqing is a 47 years old contemporary art buyer who has been purchasing precious works of art for ten years. In an interview at the sale he said he expected prices of contemporary Chinese works to continue to rise and even “exceed the 100 million yuan (USD $15.3 million) mark this year”. With this last impressive sale, we have to say that he might just be right.