Ming painting may smash price record

A Ming Dynasty painting could smash a new price world record for an ancient Chinese artwork when it goes to auction next month in Beijing.

The Red Cliff Handscroll by Qiu Ying (1494-1552), an artist based in Suzhou of East China's Jiangsu Province, has its bottom price set at 50 million yuan ($6.67 million) by the China Guardian Art Auction Co Ltd, the largest art auction house on the mainland. It was consigned by a private collector on the mainland and will go under the hammer on November 1.

The current world record for the sale of an ancient Chinese painting was broken in 2002, when a handscroll by Emperor Huizong (1101-26) of the Song Dynasty (960-1279) was sold in Beijing for 25.3 million yuan ($3.16 million).