Billionaire Set New Record by Purchasing Tibetan Tapestry

Billionaire Set New Record by Purchasing Tibetan TapestryShanghai billionaire Liu Yiqian set a new record by purchasing the Ming Dynasty thangka a Tibetan tapestry which was bought for HK$ 348.8 million a new record for the Chinese artwork that is sold in a international auction. The tapestry was sold at a Christie’s auction last Wednesday at a price which was 10 times what is was sold ten years ago. This is also a record for any Chinese artwork that is sold by the international auctioneer.

A pre sale estimate was at HK$80 million and the sale raged for 22 minutes at the Convention and Exhibition Center in Wan Chai before Lui was able to secure the tapestry through phone bid. Last April Liu also won the bid and paid HK281.24 million for the Meiyintang Chenghua  or chicken cup at Sotheby’s auction in Hong Kong. Lui said that he is proud to bring back to the country both significant and historic 15th century Thangka which  will be displayed in the Long Museum.

The 600 year ols silk embroidered thangka measures 335.5 cm and 213.4 cm and was created during the Yongle period (1402-1424) during the Ming Dynasty. The Thangka depicts Raktayamari, the red conqueror  of Death who is embracing his consort Vajravetali trampling the Lord of Death Yama.

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