International auction house Christie's first auction in the Chinese mainland ended on Thursday night with total sales of 154 million yuan (25 million U.S. dollars).

The auction, which took place in Shanghai's Shangri-La Hotel, auctioned 40 lots including wine, jewelry and paintings.

"Homme assis," a surrealist portrait by Pablo Picasso in 1969, sold for 9.6 million yuan.

"Homeland" by Cai Guoqiang, an artist who produces images by igniting gunpowder on paper, achieved 15 million yuan.

"Our first auction in Shanghai has illustrated how much demand and appreciation there is for art across categories. A red ruby necklace achieved the highest sales figure at 18 million yuan and records were broken for Singaporean art," said Francois Curiel, President of Christie's Asia.

The 247-year-old Christie's is the first foreign auction house to be granted a license to operate in the mainland.

Foreign-funded companies will be allowed to engage in antique auctions, according to a draft proposal approved by the executive meeting of the State Council in July on establishing a pilot free trade zone in Shanghai, which is expected to be officially launched on Sunday. Endi

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