Chinese masters draw art lovers at Hong Kong auction

A prospective buyer views an oil on canvas painting by Chinese artist Xu Beihong entitled "Portrait of a Lady" [AFP]

Two contemporary Chinese works of art sold Sunday for record prices at auction in Hong Kong, underlining a growing demand for modern Asian art.

An abstract painting by Zhao Wuji entitled "14.12.59" set a record for the artist when it went under the hammer for 29.44 million Hong Kong dollars (3.78 million US dollars).

And two hulking brass sculptures called "Taiji Series -- Big Sparring" by Ju Ming also set a record for the artist at 14.89 million dollars.

The two items were among hundreds of lots worth more than a billion dollars that are going under the hammer at the Christie's Spring sale of Asian art over the next four days.

Although the identity of the buyers was not revealed, Eric Chang, senior vice-president of 20th century Chinese art at Christie's, said all buyers were Asia-based.

Among other big sellers was the elegant "Portrait of a Lady" by Xu Beihong, the current darling of the Asian art world, which fetched nearly 30 million dollars with fees taken into account.

Xu's "Put Down That Whip" sold earlier this year for 72 million dollars -- the highest price commanded for a Chinese painting at auction.

Also on Sunday, the stark "Scenery of Northern China" by Wu Guangzhong sold for 31.68 million dollars.

Christie's and its rival Sotheby's have been holding twice-yearly sales in Hong Kong since the mid-1990s as growing wealth in China has fuelled a bonanza in the Asian art market.

Some art historians have criticised the recent explosion in the prices for Asian art, which 10 years ago was struggling to attract any interest, and have criticised over-exuberant first-time buyers for sending prices sky-high.