October 8, 2008 / 5:28 AM / 11 years ago

Oliver Stone to sell Chinese artwork in HK sale

HONG KONG (Reuters Life!) - Hollywood director Oliver Stone will put up a collection of Chinese contemporary art for sale at Christie’s autumn auctions in Hong Kong in late November, the auction house said on Wednesday.

Film-maker Oliver Stone is interviewed at a news conference in Santa Monica, California May 3, 2007. REUTERS/Phil McCarten

Christie’s said five “high caliber works” belonging to the Oscar-winning director of films such as “Platoon” and “JFK,” with a combined value in excess of HK$40 million ($5 million), will be offered.

The auction house said the works, by Chinese artists including Zhang Xiaogang, Liu Wei, Gu Wenda and Tang Zhigang, showcased analytical and often deconstructive viewpoints on society, culture and the role of the individual and the nation.

“The focus of this selection of Mr. Stone’s collection is on the early works that were instrumental in elevating the profile of these artists to an international audience,” the auction house said in a statement.

The highlight of Stone’s collection to be offered in Christie’s Evening and Day Sales of Asian Contemporary Art on November 30, is Zhang Xiaogang’s “Bloodline: Big Family No. 2” which could fetch some HK$30 million ($4 million)

“(Zhang’s) paintings offer a unique and very special vision of modern China and have been immeasurably important in their compassionate revelations of the conscience, desire, and pain of a previously enshrouded nation, and this work is among the most significant from the artist on the market in recent seasons,” Christie’s said.

Two works from Liu Wei, the “enfant terrible” of China’s Cynical Realist movement will also be offered in the November 30 sale.

For the past few years, auction rooms in London, New York and Hong Kong have crackled with fierce interest in Chinese contemporary art as prices broke record after record, and so far, the art world seems to have escaped any fallout from the financial crisis roiling the world’s markets.

But, in what could be a sign of things to come, bidders failed to buy top-notch paintings on Saturday at a major Sotheby’s auction in Hong Kong, a key twice-yearly barometer of market sentiment among the world’s top collectors.

Some auctioneers, however, say there is still a lot of interest in Asian art from cashed-up buyers from economically booming China, as well as oil-rich Russia and the Gulf.

Editing by Miral Fahmy

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