China Art Sales

Whatever you think of Chancellor of the Exchequer George Osborne's slash-and-burn budgets, you must admit his plan to make London a major international centre for trading China's currency is a shrewd idea (CLICK). Take a look at Qi Baishi's Eagle Standing on Pine Tree and you'll see what I mean. It was auctioned by China Guardian Auctions Co. Ltd in Beijing for more than RMB 425.5 million (USD 67.4 million, £43m), making it the most expensive artwork sold at auction anywhere in the world in 2011 (CLICK). The Beijing auction house sold over 29,700 lots last year for more than RMB 11.2 billion (USD 1.77 billion, £1.13b). Click the title link to view some of its prize goodies.