Zhang Daqian's 'Peach Blossom Spring' Sets $34.7M Artist Record at Sotheby's Hong Kong

At Sotheby's Hong Kong Spring Sale, Zhang Daqian's 1982 artwork 'Peach Blossom Spring' fetched an impressive $34.7 million, setting a new global auction benchmark for the artist. The piece, characterized by splashed ink and color, was purchased by the Long Museum in Shanghai following a fierce 50-minute bidding war that attracted over 100 offers. This final price greatly exceeded the initial estimate of $8.3 million. The auction outperformed Zhang's earlier record of $24.5 million, achieved in 2011 for his 1947 piece 'Lotus and Mandarin Ducks.' Recognized as a modern impressionist and expressionist by the 1960s, Zhang completed this artwork just a year prior to his passing in 1983, reflecting strong collector interest in his later works.