June 22, 2015 became a day of establishing records at Michaan’s, as the Fine Asian Works of Art auction broke new sales ground. The auction’s star highlight, Fu Baoshi’s (1904-1965) hanging scroll Lady by the Bamboo, did not disappoint as it set a new U.S. auction record for the artist, realizing a price of over 7 times estimations. The painting by the revolutionary Chinese artist stemmed from the estate of Mr. and Mrs. David Galula and was secured by a Chinese buyer based in New York. A final floor bid cemented the sale of the coveted scroll to the tune of a handsome price realized of $1,410,000, becoming Michaan’s single highest selling painting to date (lot 6222, $150,000-200,000). Asian Art Specialist Mr. Harry Huang realized the artwork’s potential to break the million-dollar mark and was “…greatly pleased, although not entirely surprised…” by the result. The next of the auction&#146

Read More: Michaan’s Fine Asian Auction realizes over $2.8 million USD