Author Topic: Chinese Tycoon Snaps up Ming Art for HK$108m  (Read 3941 times)


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Chinese Tycoon Snaps up Ming Art for HK$108m
« on: March 31, 2015, 11:18:58 AM »
Antique Buddhists artifacts are valuable and can fetch high prices, for some they are priceless. 

Chinese tycoon Liu Yiqian has paid HK$108 million (US$14 million) for a 600-year-old album of Ming Dynasty Buddhist art and calligraphy in New York, the highest price for a Chinese painting sold outside Asia.

The sutras, which had been valued at just US$100,000-US$150,000, were sold after frantic bidding between four would-be buyers in Asia and the United States that lasted 31 minutes, the auction house Sotheby's said.

Liu, a taxi-driver-turned-financier, is one of China's biggest art collectors.

His latest purchase continues a string of major buys that collectively represent an attempt to bring some of China's greatest works of art back to the mainland.

Forbes estimates his net worth at US$1.37 billion. Liu bid on the album over the phone. Sotheby's said US$14 million was the top price for any sale at Asian art auctions in New York this month and the highest price paid for a Chinese painting outside Asia.

The sutras, an album of 39 leaves, came from an important Japanese collection and the only other known works from the series are in Chinese hands.

In 2014, Liu paid US$36 million for a tiny white Ming Dynasty wine cup, breaking the world auction record for Chinese porcelain.

He triggered criticism when he posed for pictures drinking tea from the precious cup.

Just last week, Liu took delivery of a 600-year-old Tibetan silk tapestry in Hong Kong. He paid HK$348 million (US$45 million) for the "thangka" at a Christie's auction in November.

It was the highest amount ever paid for a Chinese work of art sold at auction, the house said.

Dondrup Shugden

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Re: Chinese Tycoon Snaps up Ming Art for HK$108m
« Reply #1 on: April 01, 2015, 07:34:54 AM »
All Buddhas teachings are priceless and any art and forms depicting Buddhas body, speech and mind is just as priceless.

Thank you for the post and having set eyes on both these items is a blessing.

May many more such treasures are brought back to China. And may these Tycoons practise generosity and donate to museums for the public to be blessed by having set their eyes on them.