$10,200,000 H.H. Dorje Chang Buddha III Painting Breaks Record
“Loquat” by HH Dorje Chang Buddha III realized $10,200,000 at Gianguan Auctions New York on September 12, 2015 On Sept 12, 2015 at Gianguan Auctions New York, Loquat , an ink painting by HH Dorje Chang Buddha III , sold for $10,200,000, setting a world record price of $1.7M per square foot. It is the highest price by dimension ever paid for a Chinese painting at auction. The news, which comes amidst concerns about the strength of the Chinese art market in the current period of correction, has been covered by more than 300 media outlets across the globe. Loquat is exceptional because HH Dorje Chang Buddha III treated the ink as if it were as precious as gold. There are no broken strokes or extraneous marks on the image that focuses on an ascending branch laden with fruit. Elegant by design, the deft brush work culminates in a visual simplicity that belies the hidden power within. The painting carries the bell seal of Dorje Chang Bud...