Billionaire in China pays $28 Million for a Picasso Painting
As per one report:
Billionaire Wang Jianlin, who is China's richest man and chairman of real estate developer Dalian Wanda Group, paid $28.16 million for Spanish master Pablo Picasso's painting of his children, "Claude et Paloma," at Christie's in New York.
The purchase is the first in the West by a Chinese company of a work by the Spanish artist. "We are happy to have bought the work at this price, especially with the slowdown in the global economy, because another of Picasso's paintings, 'Boy with a Pipe,' sold for $104.16 million in 2004," Guo Qingxiang, who manages Dalian Wanda Group's art collection, said. The painting, which had an estimated starting bidding price of $12 million at the auction, was "one of Picasso's favorites" and was on display "in his studio until his death," Guo said.
Billionaire Wang Jianlin, who is China's richest man and chairman of real estate developer Dalian Wanda Group, paid $28.16 million for Spanish master Pablo Picasso's painting of his children, "Claude et Paloma," at Christie's in New York.
The purchase is the first in the West by a Chinese company of a work by the Spanish artist. "We are happy to have bought the work at this price, especially with the slowdown in the global economy, because another of Picasso's paintings, 'Boy with a Pipe,' sold for $104.16 million in 2004," Guo Qingxiang, who manages Dalian Wanda Group's art collection, said. The painting, which had an estimated starting bidding price of $12 million at the auction, was "one of Picasso's favorites" and was on display "in his studio until his death," Guo said.
Labels: $28 Million, Billionaire, China, painting, Picasso, Richest man
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