Film mogul buys a Van Gogh for $62m

One of China's richest men has bought a Vincent Van Gogh masterpiece for nearly $62 million, reports said on Wednesday, becoming the latest tycoon to make an eyebrow-raising art purchase.

Wang Zhongjun, chairman of the high-powered Huayi Brothers film studio, bought Van Gogh's 1890 painting Nature Morte, Vase aux Marguerites et Coquelicots on Tuesday for $61.8 million, according to the Shanghai news site The Paper.

The painting, which was auctioned by Sotheby's in New York, had been valued at $30 million to $50 million, the report said.