BEIJING — A former taxi driver-turned-billionaire art collector, Mr Liu Yiqian, confirmed yesterday (Nov 10) that he was the buyer of the painting of a nude woman by Amedeo Modigliani that sold for US$170.4 million (S$242.1 million) at Christie’s New York on Monday night.
Speaking by telephone from Shanghai, the Chinese collector said he planned to take the work back to the city, where he and his wife have two private museums.
“We are planning to exhibit it for the museum’s fifth anniversary,” he said. “It will be an opportunity for Chinese art lovers to see good artworks without having to leave the country, which is one of the main reasons why we founded the museums.”
Bidding by telephone, Mr Liu, 52, was one of six people competing for Modigliani’s 1917-18 canvas, Nu Couche, during the auction. The final price of the painting was well above the previous auction record of US$70.7 million for a work by Modigliani.
With Mr Liu’s winning bid, the painting became the 10th work of art to reach the elite nine-figure club for works sold at auction.
“Modigliani’s works already have a pretty established value on the market,” said Mr Liu. “This work is relatively nice compared to his other nude paintings. And his nude paintings have been collected by some of the world’s top museums.”
As a teenager growing up in Shanghai during the tumultuous years of the Cultural Revolution, Mr Liu sold handbags on the street and later worked as a taxi driver. After dropping out of middle school, he went on to ride the wave of China’s economic opening and reform, making a fortune through stock trading in real estate and pharmaceuticals in the 1980s and 1990s. According to the 2015 Bloomberg Billionaires Index, Mr Liu is worth at least US$1.5 billion.
Mr Liu, together with wife Wang Wei, 52, is one of China’s most visible art collectors. Over the years, they have built a vast collection of both traditional and contemporary Chinese art, much of which is displayed in their two museums in Shanghai: The Long Museum Pudong; and the Long *Museum West Bund.
The couple’s collection includes a 15th-century silk hanging, called a thangka, bought by Mr Liu for US$45 million at a Christie’s auction in Hong Kong last year. The purchase made headlines when it set the record for a Chinese artwork sold at an international auction.
With that purchase, Mr Liu broke a record he had set months earlier when he paid US$36.3 million at a Sotheby’s sale for a tiny Ming dynasty porcelain cup known as a “chicken cup”. Soon after, he caused an uproar after a photograph that showed him sipping tea from the antique cup spread online.
Speaking about Mr Liu and Ms Wang, Mr Philip Tinari, director of the Ullens Center for Contemporary Art in Beijing, said: “These are collectors that have so much money that they acquire taste or they don’t have to have taste because they buy everything in sight.
“There’s very little discrimination, they just buy the most expensive things. They’re not connoisseurs,” he added.
Nu Couche will be the most expensive artwork in the couple’s collection, said Mr Liu. THE NEW YORK TIMES
http://www.todayonline.com/entertai...turned-billionaire-bought-modigliani-painting
Speaking by telephone from Shanghai, the Chinese collector said he planned to take the work back to the city, where he and his wife have two private museums.
“We are planning to exhibit it for the museum’s fifth anniversary,” he said. “It will be an opportunity for Chinese art lovers to see good artworks without having to leave the country, which is one of the main reasons why we founded the museums.”
Bidding by telephone, Mr Liu, 52, was one of six people competing for Modigliani’s 1917-18 canvas, Nu Couche, during the auction. The final price of the painting was well above the previous auction record of US$70.7 million for a work by Modigliani.
With Mr Liu’s winning bid, the painting became the 10th work of art to reach the elite nine-figure club for works sold at auction.
“Modigliani’s works already have a pretty established value on the market,” said Mr Liu. “This work is relatively nice compared to his other nude paintings. And his nude paintings have been collected by some of the world’s top museums.”
As a teenager growing up in Shanghai during the tumultuous years of the Cultural Revolution, Mr Liu sold handbags on the street and later worked as a taxi driver. After dropping out of middle school, he went on to ride the wave of China’s economic opening and reform, making a fortune through stock trading in real estate and pharmaceuticals in the 1980s and 1990s. According to the 2015 Bloomberg Billionaires Index, Mr Liu is worth at least US$1.5 billion.
Mr Liu, together with wife Wang Wei, 52, is one of China’s most visible art collectors. Over the years, they have built a vast collection of both traditional and contemporary Chinese art, much of which is displayed in their two museums in Shanghai: The Long Museum Pudong; and the Long *Museum West Bund.
The couple’s collection includes a 15th-century silk hanging, called a thangka, bought by Mr Liu for US$45 million at a Christie’s auction in Hong Kong last year. The purchase made headlines when it set the record for a Chinese artwork sold at an international auction.
With that purchase, Mr Liu broke a record he had set months earlier when he paid US$36.3 million at a Sotheby’s sale for a tiny Ming dynasty porcelain cup known as a “chicken cup”. Soon after, he caused an uproar after a photograph that showed him sipping tea from the antique cup spread online.
Speaking about Mr Liu and Ms Wang, Mr Philip Tinari, director of the Ullens Center for Contemporary Art in Beijing, said: “These are collectors that have so much money that they acquire taste or they don’t have to have taste because they buy everything in sight.
“There’s very little discrimination, they just buy the most expensive things. They’re not connoisseurs,” he added.
Nu Couche will be the most expensive artwork in the couple’s collection, said Mr Liu. THE NEW YORK TIMES
http://www.todayonline.com/entertai...turned-billionaire-bought-modigliani-painting
