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Thursday, 28 April 2016

Chinese oil painting sells for record $30 million

A Chinese artwork has sold for a record 236 million Hong Kong dollars (30.4 million US dollars), a new high for contemporary Chinese oil paintings. Master artist Wu Guanzhong’s painting was auctioned at the Poly Auction Hong Kong on Monday night, China’s state Xinhua News Agency reported.

Chinese oil painting sells for record $30 million

Wu’s masterpiece, entitled The Zhou Village, portrays the picturesque tranquil beauty of Zhouzhuang - a famous water town and popular tourist attraction in China’s Jiangnan, the southern area in the lower reaches of the Yangtze River.

Chinese oil painting sells for record $30 million

Measuring 148 by 297 centimeters, the painting was finished in 1997 when Wu was 78. It is the largest oil painting on canvas ever auctioned in China.

Combining the Western oil painting tradition with scenes from China, Wu has been called the father of modern Chinese painting.

The new record comes despite auction sales of living Chinese artists’ works falling by 45 percent, according to a survey by wealth publisher the Hurun Report, which collated auction results for the 100 most lucrative Chinese artists.

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