China Movie Mogul Wang Zhongjun Buys Vincent Van Gogh Painting 'Still Life, Vase With Daisies and Poppies' for $61.8 Million
A Chinese cinema tycoon bought a painting by Vincent van Gogh for $ 61.8 million at a Sotheby's auction in New York, in what is believed to be the highest price paid abroad to Western art by a Chinese collector.
Wang Zhongjun deal by phone Tuesday afternoon, according to a person familiar with the matter. Mr. Wang, one of the richest men in China, Huayi Brothers Media Corp. founded in 1994 with his brother. The company is listed on Shenzhen, which produced blockbusters like Journey to the West, has a market capitalization of $ 4.7 billion, more than double that of DreamWorks Animation SKG Inc.
The hammer price of Vincent van Gogh in "Still Life, Vase with Daisies and Poppies" was $ 55 million higher than the estimate of $ 30 million to $ 50 million, according to Sotheby's. This marks a new auction record for any artist still life and the highest price auction of a Van Gogh from 1998.
Wealthy Chinese have become a growing force in the collection of Western art. In late 2013, the largest commercial real estate in China Wanda Group bought "Claude et Paloma" by Pablo Picasso for $ 28.2 million at a Christie's auction in New York.
In addition to the collection, Mr. Wang likes to paint himself Impressionist works. Proceeds of his paintings, which have been collected by his friends for 400,000 yuan ($ 65.400) per piece, go to a charity fund by Huayi Brothers, a spokesman for Huayi, who confirmed the purchase by Mr. van Gogh Wang.
A rare piece of art painted by Vincent van Gogh weeks before his death sold for $ 61.8 million Tuesday and a sculpture by Alberto Giacometti took in more than $ 100 million in a sale kicking Art Auctions fall of the City of New York of Impressionist and modern art.
1890 Van Gogh painting "Still Life, Vase with Daisies and Poppies," I had expected to fetch between $ 30 million and $ 50 million at Sotheby's evening sale in Manhattan.
Van Gogh painted bouquet of wild flowers in the French house of his physician, Dr. Paul Gachet, in 1890. It is one of the few works by the Dutch artist sold during his lifetime.
One of the founders of the Museum of Modern Art, A. Conger Goodyear, acquired it in 1928. It remained in the family for decades and was on permanent exhibition at the Albright-Knox Gallery in Buffalo Arts for 30 years. The latest owner bought around 1990.
The auction record for a van Gogh is $ 82.5 million.
The high price auction at Sotheby brought in $ 101 million for Giacometti "car." The rare 1951 bronze sculpture has an elongated figure goddess atop a wheeled cart. The price almost broke the record of $ 104.3 million for the Swiss artist.
The 1951 piece, decorated with paint to enhance the quality of the texture of bronze, has been in the same collection for over 40 years. Giacometti made six casts of "Chariot" during his lifetime. The selling on Tuesday is one of only two examples painted.
Another important sculpture sold at auction was "Tete." Amedeo Modigliani was brought in $ 70.7 million, barely surpassing the previous record for the artist at auction $ 69 billion.
The elongated deitylike head was carved in 1911 and 1912 from a block of limestone rescued from a construction Paris. He had a presale estimate of $ 45 million.
The auction house Bonhams, which is selling more than 700 items in the homes of Lauren Bacall, offered two sculptures by Henry Moore in his collection on Tuesday.
"Maquette for Mother and Child: weapons" sold for $ 281,000, slightly more than its pre-sale estimate maximum of $ 200,000, and "working model for reclining figure: bone skirt," sold for over $ 1 million, surpassing its presale estimate of $ 600,000 to $ 800,000.
The legendary actress' other works of art, jewelry and furniture will be offered for sale in March.
All prices include the buyer's premium.
The main autumn sales continue Wednesday at Christie. Among the highlights is a famous portrait of a Parisian actress Edouard Manet. "Spring" has a presale estimate of $ 25 million to $ 35 million.