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New mark for Chinese artist

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From the Associated Press

A set of 14 gunpowder paintings by Chinese artist Cai Guo-Qiang sold for $9.5 million at an auction in Hong Kong, breaking records for the artist and for Chinese contemporary art, Christie’s auction house said Monday.

The abstract works by Cai were sold to an anonymous bidder Sunday as part of a mammoth auction of contemporary South and Southeast Asian art in Hong Kong.

Cai’s 14 screens, done in gunpowder and ink, sold for double their estimated value of $3.5 million to $4.6 million, making him the world’s most expensive contemporary Chinese artist.

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The previous record for the most expensive contemporary Chinese painting was set by Yue Minjun, whose “Execution” sold for $5.9 million last month at an auction by Sotheby’s in Britain.

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