Asian artist Zeng Fanzhi’s Last Supper painting, which sold at auction in Hong Kong on Saturday evening for $23.3 million, established a new high-price record for an Asian contemporary artist.
The WSJ Life & Style blog posted that 600 people attended the auction held at the Hong Kong Convention and Exhibition Centre for the Sotheby’s auction. A 10-minute-long bidding joust between two prospective buyers via the telephone drove up the final selling price.
Overall, the event saw 11 artists set new high-price marks records for their works. Fifty-five of the 61 lots sold at the auction, representing sales of more than 90% of all the available lots.
Several people posted that they were incredulous to the final sales price of Zeng’s Last Supper, because they did not like it. The snarky comments offred up at the end by the Journal's readers are reminiscent of those remarks usually left below the articles in the sports section of Yahoo! (Ouch.)
…. Sotheby’s said that bidders represented 25 countries, pointing out that the market for modern and contemporary Asian art is an international one. “There was a lot of cross-buying,” said Evelyn Lin, the firm’s head of Asian Contemporary art.