Andy Warhol's sensational portrait of Mao Zedong, considered a
landmark of 20th century art, was sold to Hong Kong collector and
real estate developer Joseph Lau for US$16.4 million, plus a US$1
million commission, on Wednesday night in New York, Christie's
auction house said.
The portrait, entitled Mao, set a world auction record
for the artist, bringing in about US$5 million more than expected
for the Switzerland-based Daros Collection, owner of one of the
largest private collections of Warhol paintings.
Lau ranked 451 on Forbes' list of the World's Richest People
this year. The 54-year-old self-made tycoon holds a majority stake
in the Hong Kong-based Chinese Estates Holdings, and together with
his brother owns SOGO Department Stores.
The Mao he shelled out for on Wednesday, measuring 205
centimetres by 155 centimetres and showing Mao in a dark blue
jacket against a light blue background, was "literally an icon of
the 20th century," said Brett Gorvy, the head of post-war and
contemporary art at Christie's.
"Warhol's genius hovered over the sale throughout the evening,"
Gorvy said, describing the auction. "Never before had a group of
Warhol works of this magnitude been presented on one auction, and
it attracted bidders and buyers from around the globe."
Andy Warhol (1928-87), the American pop artist, was known for
his political portraits, of which Mao was one of his
first. Other iconic people and images to be depicted appear in
paintings entitled Lenin and the Hammer and
Sickle.
Mao edged out that unforgettable Hollywood legend
Marilyn Monroe on Wednesday. Warhol's Orange Marilyn,
estimated to be worth US$10 million-US$15 million, sold for US$16.2
million, including commission.
Sixteen Jackies, a reverent depiction of an exceptional
First Lady and an artistic response to the assassination of John F.
Kennedy in 1963, brought US$15.7 million, including commission. In
total, the eight works by Andy Warhol offered in the sale sold for
a combined US$59.7 million.
(Xinhua News Agency November 17, 2006)
