Oil painting by master bought for 112.7 m yuan

Chinese artist Wu Guanzhong's oil painting of a serene Jiangnan landscape fetched 112.7 million yuan ($16 million) at Poly International Auction's sale on Thursday night in Beijing.

The 1994 painting, titled Twin Swallows, was sold at the second highest price paid for an oil work by Wu, who died in 2010 in Beijing. The modern master's output, especially landscapes, enjoy wide popularity for their color system and for conveying a sense of Chinese poetry.

Wu first created a colored ink painting, also titled Twin Swallows, in 1988. Based on that, he created the oil version with some variations in details. The ink version was auctioned in the same sale, selling for 54 million yuan.