The auction house Poly has achieved its best ever sale for a Chinese oil painting, The Zhou Village by Wu Guanzhong.
Yet another case that counters the idea that the Chinese art market is declining. By selling the oil painting at $30 million, Polly Auction has set a record. Wu Guanzhong is among the artists with the most significant and stable sales, according to Artprice. Last year, his works sold for $103 million, including one selling for $11 million.
A fine sale for Poly Auction that has yielded $160 million while Bonhams and Seoul Auction also announce strong sales this week.