The four-day Sotheby's Hong Kong autumn 2007 sale concluded on
Tuesday. More than 940 lots sold, with a total worth of HK$1.55
billion (about US$200.23 million).
The highlight of the last-day sale was a six-centimeter (2.4-
inch) "Tai Shang Huang Di" White Jade Seal, carved in 1796 to mark
the abdication of the Emperor Qianlong. It was sold to a Chinese
collector for US$5.92 million, a new record for white jade at
auction.
A Rare Imperial Album comprising the Impressions of Antique
Seals from the Collection of the Emperor Qianlong of the Qing
dynasty was sold at US$4.986 million during Tuesday's auction.
At Monday's auction, a flawless blue diamond was sold for
US$7.98 million, making it the most expensive gemstone per carat
sold at auction. After intense bidding, the 6.04 carat, internally
flawless blue diamond fetched US$1.32 million per carat. The price
smashed a 20-year-old record held by the Hancock Red - a red
diamond which fetched US$ 926,000 per carat at the time.
At Sotheby's Hong Kong Contemporary Chinese Art sale held on
Sunday, the total worth of sold lots reached US$42.54 million, a
new world record for the sale of Chinese Contemporary Art.
The auction saw new artists' records established for Cai
Guo-Qiang, Yu Chen, Xu Bing, Liu Wei, Wang Guangyi and Zhan Wang.
The highlight of the sale was The Massacre at Chios by Yue
Minjun.
After six minutes of intense competition between seven bidders
both in the saleroom and via telephones, the work was finally sold
to an Asian private collector for US$4,084,202, nearly four times
its pre-sale low estimate.
The painting is regarded as one of the most important works
produced during the fledgling years of contemporary Chinese art. It
is an early work that depicts the artist's characteristic
"self-images".
Among the three works in the sale by Chinese artist Cai
Guo-Qiang, his painting: Project for Extraterrestrials No.10,
Project to Extend the Great Wall of China, achieved a new record
for the artist at auction, going at US$2,640,634.
The painting, executed in the unusual medium of gunpowder on
paper, consists of five pieces. It is monumental in size, measuring
approximately 3 by 20 meters. The work reflects and records an
explosion in 1993 at Jiayuguan, where the Great Wall ends.
(Xinhua News Agency October 10, 2007)
