HONG KONG.- Christie’s Hong Kong announced the sale of Important 20th Century Chinese Paintings from the Yageo Foundation on 31 October at the JW Marriott Hotel. The Yageo Collection in Taiwan is one of the foremost collections of contemporary Chinese art. The property from the Yageo Collection is virtually a history of Chinese oil painting in microcosm and 62 works by the greatest artists of each generation of modern and contemporary Chinese art, including Liao Jichun, Chen Chengbo, Li Meishu, Hong Tong, Sanyu, Lin Fengmian, Zhao Wuji, Wu Dayu, Pang Xunchin, Wu Guanzhong and Ding Yanyong are represented. The sale is expected to realize in excess of HK$35 million (US$4.5 million).

Anthony Lin, Chairman of Christie's Asia, said: “We are very honoured to be entrusted with the sale of this unsurpassed collection. With its breadth and depth, its quantity and quality of works, the Yageo Collection is the most significant collection of modern and contemporary Chinese art ever offered at auction. We expect that these exceptional works will attract tremendous interest from the Asian and international collectors alike.”

Executive Director of the Yageo Foundation, Ms. Carol Huang, discusses the origin of the sale: "The Foundation has always been devoted to internationalizing the work of modern and contemporary artists. In the future, the Yageo Foundation will focus on sponsorship activities and promotion of contemporary Chinese artists, while providing extensive support to promising young artists. In the mature European and American markets, we often see foundations or museums selling works from their collections, with the aim of raising funds for future projects or acquiring other works, while sustaining themselves as vital, growing organizations. The Yageo Foundation hopes to use the proceeds of this sale to further its future sponsorship activities."