Wednesday, September 23, 2015

Embroidered Buddhist thangka sells at auction for $1.5 million

ARTNET | NEWS
By Henri Neuendorf
Qing dynasty Tibetan Thangka (18th century) Photo: Sotheby's
NEW YORK---A finely embroidered Buddhist thangka was sold for $1.5 million at Sotheby's, New York on Wednesday. Estimated to sell for between $80,000 and $120,000, the artwork fetched 15 times the expected price. The 18th century Qing dynasty thangka hung in an Arizona home for decades. The artwork was bought by the collector Wilton D. Cole and his wife in 1971 and passed down to their children, who were reportedly unaware of the artifact's value. Eventually, a private collector from Asia landed the artwork with a winning bid of $1,510,000. [link]