Andy Warhol’s painting of Chinese communist leader Mao Tse-tung (Zedong) has fetched an impressive £7.6 million ($12,7 million) at Sotheby’s auction in London. The pop artist’s 1977 painting sold for more than 18 times the price paid last time it went to auction (£421,500). Samuel Valette, a Sotheby’s senior international specialist, purchased it for a client.
Warhol made several portraits of Mao in different sizes and in different mediums. In this case the artist transformed the official portrait of the Chinese leader using the red and yellow colour scheme of the Cultural Revolution.
Gerhard Richter’s 1994 work Wand (Wall) sold for £17.4 million ($20,7 million) at the same auction.
Paintings by Gerhard Richter, Andy Warhol and Jean-Michel Basquiat boosted a £87.9 million ($146 million) Sotheby’s auction as wealthy collectors from 40 countries competed for established and emerging art trophies.