Beijing, Sep 28 (IANS/EFE) Spanish artiste Pablo Picasso’ first-ever painting auctioned in China has been sold for $1.8 million.
The oil painting “Homme Assis,” signed by the Andalusian artist April 21, 1969, was knocked down for almost double of its expected maximum amount, Christie’s said in a communique.
In all, the 42 works of art and jewelry put up for auction were initially valued at some 100 million yuan (over $16 million), though the final take soared to a staggering 154 million yuan ($25 million) in Shanghai.
All but 2 percent of the pieces on offer found buyers and 96 percent went for as much or more than the value estimated by the company before its first-ever auction in mainland China.
“The response to our sale and events has been extraordinary,” Christie’s CEO Steven Murphy said in a statement.
“Bringing international art, including Picasso, to mainland China for the first time is the realisation of a long held dream for Christie’s. We are delighted to have welcomed several thousand members of the public and clients over the course of our three-day gala of exhibitions, forums and lectures,” he said.
The record set at Christie’s first auction in China was for a necklace of rubies that sold for 18 million yuan ($2.9 million).