Zhang Xiaogang Record Sale at Sotheby’s HK
The Chinese art market remains strong at Sotheby’s auction in HK over the weekend. Zhang Xiaogang and seven other artists set new artist auction records yesterday. Zhang’s painting “Bloodline; Big Family No. 3” fetched HK$ 94.2 million, (USD 12.1 million) breaking his previous record. The painting ( see above) is from 1995 and measures 179 cm by 229 cm. The iconic three-member family portrait is the only one of his bloodline series to feature a Little Red Guard wearing a Mao Badge, highlighted by Sotheby’s. The majority of the lots were purchased by Asians which is a testament that Asians collectors are driving the prices to new record levels and does not dampen the regional demand for art, despite slowing Chinese economic growth. Poly Auction and China Guardian are holding similar sales in HK this week.