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Sotheby's eyes young Chinese collectors

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(Globalpost/GlobalPost)

BEIJING, May 29 (Xinhua) -- Sotheby's said on Thursday that it sees young Chinese collectors as a huge potential market for art collection.

Sothey's is scheduled to kick off its 2014 Beijing auction of contemporary Chinese art on Sunday at the China World Summit Wing.

At a media preview, Evelyn Lin, head of contemporary Asian art at Sotheby's, told reporters that contemporary art is becoming more and more popular among young Chinese collectors.

"There is great potential as contemporary art is more affordable for young collectors," Lin said.

Sunday's auction will see 50 paintings from Chinese artists, including "Sous Bois Dans la Nuit" (Forest in the Night) by Zao Wou-Ki, expected to fetch up to 24 million yuan (3.9 million U.S. dollars), and "Family Party" by Liu Xiaodong, estimated at up to 6.5 million U.S. dollars.

Last December, an abstract by late French-Chinese artist Zao fetched a record 89.68 million yuan at Sotheby's first major sale in Beijing.

Sunday's event is part of Sotheby's Beijing Spring Sale and Selling Exhibition 2014, which includes a selling exhibition of printmaking and works on paper by artists like Pablo Picasso, Henri Matisse and Sanyu; an exhibition from the private Hui Tong collection of Chinese realist paintings; and a series of educational programs.

The exhibition lasts till Sunday.

http://www.globalpost.com/dispatch/news/xinhua-news-agency/140529/sothebys-eyes-young-chinese-collectors