Sotheby’s Beijing Spring Sale 2015 concluded today, with the Modern and Contemporary Chinese Art Auction totalling RMB 40.48 million / HK$50.6 million / US$6.49 million*. Wen Guihua, President of Sotheby’s Beijing Auction Co. Ltd., said: “The results of the sale today were rational and solid. Important early works by modern and contemporary artists, such as Liu Xiaodong and Wang Xingwei, remained sought after by collectors and achieved pleasing results. Abstract art has become an important force of the market and in today’s sale we saw strong demand for high-quality abstract works. Top lot of the sale, Zao Wou-Ki’s 15.2.93, achieved RMB 10.86 million and Walasse Ting’s Untitled fetched three times the high estimate with intense bidding. Works by young and emerging artists performed strongly in the sale with Yuan Yuan and Wang Guangle’s paintings selling above

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