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$10M Triptych Sets Chinese Modern Art Record

HONG KONG (AP) - A three-panel painting by artist Zhang Xiaogang has been sold for a record auction price for Chinese contemporary art, fetching 79 million Hong Kong dollars ($10 million).

Sotheby's, which ran the Hong Kong auction, says the triptych, "Forever Lasting Love," was sold Sunday.

The price broke the previous record of $9.7 million set by Zeng Fanzhi's "Mask Series 1996 No. 6," which was auctioned in Hong Kong in 2008.

"Forever Lasting Love" was one of 105 artworks belonging to Belgian art collectors Guy and Myriam Ullens that went on the block over the weekend. Sotheby's said Monday that the auction earned a total of $54.77 million.

Sotheby's did not identify the buyer.

(Copyright 2011 by The Associated Press. All Rights Reserved.)


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