Chinese Tycoon Liu Yiqian Breaks World Auction Record for HK$348.4m Thangka

SOUTH CHINA MORNING POST
By Vivienne Chow

The thangka was made in the Yongle period of the Ming Dynasty. Photo: Christie's

CHINA---Shanghai billionaire Liu Yiqian paid HK$348.4 million for a Tibetan tapestry at a Christie's auction yesterday, 10 times what it sold for a little over a decade ago and breaking the auction record for a Chinese work of art he set in April. It was also a record for any Chinese work of art sold by an international auctioneer. The pre-sale estimate was HK$80 million. The sale raged for 22 minutes at the Convention and Exhibition Centre in Wan Chai before Liu captured his prize with a telephone bid.In April, he paid HK$281.24 million for the Meiyintang Chenghua "chicken cup" at Sotheby's spring auction in Hong Kong. "I am proud to bring back to China this significant and historic 15th century 'thangka', which will be preserved in the Long Museum for years to come," Liu said. [link]