Liu Yiqian and Wang Wei are offering a “small fraction” of their collection this fall at Sotheby’s in Hong Kong
“Major examples” of modern and contemporary art by Amedeo Modigliani, Zao Wou-ki, René Magritte, David Hockney, Matthew Wong, and Yayoi Kusama will be among 50 pieces on the auction block, Sotheby’s said in a brief news release. The value of the collection is in the neighborhood of US$150 million, Artnet news reported on Wednesday, citing unnamed sources. Sotheby’s did not confirm the estimate.
It was part of a buying spree by the one-time taxi driver, which included pieces by modern and contemporary western artists in addition to ancient Chinese works of art. Among high-profile Chinese pieces was a Ming dynasty-era “chicken” cup Yiqian bought for US$35.3 million in July 2014 and a Tibetan silk tapestry known as a thangka that he bought for US$45 million in March 2015.
The couple founded the Long museum in Shanghai in 2012 to fulfill these ambitions, and they intend for proceeds from the sales to support “further key initiatives,” including “funding future acquisitions and the continued fostering of cultural dialogues between different artists, geographies, and generations,” Nicholas Chow, Sotheby’s chairman for Asia, said in the news release.
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