BEIJING - A work by modern painter Zao Wou-ki sold for 76 million yuan on Sunday at Sotheby's first major auction in China, breaking the record for the artist's work set earlier this year in Hong Kong. The final price of sale reported by Sotheby's was 89.68 million yuan, which includes an 18 percent fee paid to Sotheby's by the buyer. Another Zao painting estimated to be worth 4-6 million yuan went for 38 million yuan. Sotheby's has not said whether it sold a $50 million Rembrandt, "Portrait of a Man with Arms Akimbo," which was part of one of the accompanying selling exhibitions.
Source: REUTERS
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