Chinese art collectors add fuel to active auction market

(chinadaily.com.cn) Updated: 2015-11-13 15:45 Comments

An abstract work by Cy Twombly from his "blackboard" series fetched $70.5 million is seen during the Sotheby´s evening sale of contemporary artworks in New York on November 11, 2015.[Photo/IC]

Chinese art collectors have been adding fuel to a rollercoaster auction week so far, as the market witnessed more than one record-setting moment.

The "Nu Couche" by Amedeo Modigliani, a painting of an outstretched nude woman, sold for $170.4 million at Christie's auction on Monday to Liu Yiqian, a former taxi driver turned Chinese billionaire. It was the second-highest price ever paid for an artwork at auction.

On Wednesday, the rare and flawless "Blue Moon Diamond" sold for $48.4 million to a Hong Kong buyer, setting a world record for a gemstone at auction, according to Sotheby's.

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