Chinese Tycoon Buys Van Gogh Poppies For £39m

Written By Unknown on Rabu, 05 November 2014 | 23.11

A rare piece of art by Vincent van Gogh has reportedly been sold to one of China's richest men for £39m ($62m).

Wang Zhongjun, chairman of the high-powered Huayi Brothers film studio, has become the latest businessmen to pay an eyebrow-raising amount for a painting, according to Shanghai-based news site The Paper.

The 1890 painting - Still Life, Vase With Daisies And Poppies - was expected to fetch between $30m and $50m at Sotheby's in New York, but sold for $61.8m.

The auction record for a van Gogh is $82.5m.

Last year, tycoon Wang Jianlin's Wanda Group bought the 1950 Pablo Picasso painting Claude And Paloma for $28m, more than double the high estimate of $12m.

At the time, the company came under fire for the extravagant purchase, with some Chinese internet users questioning Wang Jianlin's patriotism and the painting's value.

Wang Zhongjun has come under similar criticism.

"One madman buying a painting by another madman," one user wrote on Sina Weibo, the Chinese equivalent of Twitter.

"This is how he spends all the investors' money? What a waste," wrote another.

The auction also brought in £63.5m ($101m) for Chariot, a rare sculpture by Alberto Giacometti.

The 1951 bronze sculpture features an elongated, goddess-like figure perched atop a wheeled chariot. The price almost broke the $104.3m record for the artist.

Amedeo Modigliani's Tete sculpture sold for £44.4m ($70.7m), just topping the previous auction record for the artist at $69m.


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