Pursuits
Chinese Bidders Boost $83 Million Auction as Zao Reaches Record
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An abstract painting by Zao Wou-ki fetched an auction record price last night, pushing Sotheby’s sales of modern and contemporary Asian art to HK$647 million ($83 million), as Chinese buyers battled for the artist’s work.
An unidentified woman in a black lace dress calmly placed the winning bid of HK$68.98 million in the saleroom in Hong Kong. The 1968 work, “10.1.68,” led 18 lots by the painter that drew strong bidding as offerings from other artists went unsold.