Unprecedented bidding war over 700-year-old Chinese painted scroll
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A 700-year old Chinese painted scroll fetched an astonishing price of almost US$40-million (R658-million) at an auction in Hong Kong on Thursday.
The price is US$24-million (R395-million) more than experts predicted it would sell for, and makes it the most valuable art work sold anywhere in Asia this year.
The 2-metre long scroll, entitled Five Drunken Princes Returning on Horseback, is by Ren Renfa, a renowned Chinese artist and government official.
It was painted in the late 13th or early 14th century during the Yuan dynasty.
UNPRECEDENTED BIDDING BATTLE
Many of Ren’s 21 paintings are held in museums or owned by private collectors and this was a rare piece that attracted major interest from various parts of the world.
According to a press release from renowned a...