Thursday, November 29, 2007

New record for Contemporary Chinese Art at Auction

Cai Guo Qiang's Drawing for Asia-Pacific Economic Cooperation, a series of 14 works of gunpowder on paper sold for $9,652,175 at Christie's Hong Kong on November 25, 2007.

He is now the highest selling contemporary Chinese artists at auction, beating out former leader, Yue Minjun, whose Execution sold for $5,964,700.

$10 million paper! Back in 2000, a copy of the Declaration of Independence sold for $7.4 million. And in December this year, Sotheby's is going to auction a copy of the Magna Carta, estimated to bring in $20 million to $30 million. In this age of going green, I say we just recycle it all for sustainable living.

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