Sunday, February 22, 2015

Chinese passion for Picasso

A Chinese postage stamp from 1950 is illustrated with a picture of a dove by Pablo Picasso.

Pablo Picasso has become the Louis Vuitton of the Chinese art world, as collectors pay sky rocketing sums for the 20th-century icon's louder, later works, writes Patrick Lecomte

If the art market is any indication of tastes, the millions of dollars spent by Chinese collectors on Pablo Picasso's paintings stand as a beacon that marks the love affair China is having with the 20th-century Spanish painter.
At a Christie's auction in New York in 2013, Dalian Wanda Group, a real estate and entertainment conglomerate, bought a Picasso painting from 1950 titled Claude et Paloma for US$28.2 million. It had been estimated the work would sell for between US$9 million and US$12 million. Following the sale, Guo Qiangxiang, who is in charge of the company's art collection, told the media: "This painting is Picasso's masterpiece, completed in his prime, so to pay US$28.2 million for the artwork … I think that it's decently priced, and I'm very satisfied with it." More at: South China Morning Post