Sotheby’s First Mainland China Auction Raises $37 Million – billed as a success, their first auction topped the expected $20.2M. A 1958 abstract painting by Zao Wou-Ki brought a record $14.7M (about 40% of the sale’s total take). The Zao was originally acquired by the Art Institute of Chicago in 1961.
Zao Wou-ki
“Abstraction”
$14.7M