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Spectacular Closure of Xiling Yinshe 2020 Autumn Auction Marking Seventeen Years as A Leading Art Auctioneer in the South of the Yangtze River
Date:2021-02-02 12:48  Author:XLPM  Source:XLPM

3:00 PM, 17 January, 2021 marked the spectacular closure of Xiling Yinshe 2020 Autumn Auction, during which twenty-seven sales involving over four thousand lots were sold for RMB 913 million with a total sell-through rate of 82.35%. 


Under the unprecedentedly complicated background, the auction remained in its high sell-through rate and total sales as a leading art auctioneer in the south of the Yangtze River for consecutive seventeen years! Following the successful 2020 spring auction, the autumn one unleashed its energy completely and consolidated the strategic roles of the company as the ‘First Hammer of Jiangnan Area’ and the ‘leading auctioneer in the South of the Yangtze River’, which are increasingly recognized and honored by the market.


The world is changing rapidly and so is the auction industry. The successful closure of this autumn auction is unarguably the recognition and salute given to the century-old brand ‘Xiling Yinshe’. Originated from the south Gushan Hill by the Qiantang River, this time, it came to InterContinental Hangzhou for its seventeenth-year journey.


Focusing on the stability in both quality and quantity, Xiling Yinshe continued its effort to make itself a nationally powerful brand to interpret the strategy of ‘Cultural Zhejiang’ for high-quality development and construction of cultural industry. Witnessing the epidemic and chaotic world from 2020 to 2021, Xiling Yinshe Auction will keep on growing with the art market. From the ‘West Lake Era’ to the ‘Qiantang River Era’, Xiling Yinshe Auction will continue to build its dream in this world-famous city Hangzhou!


Overcoming the difficulties, the autumn auction selected refined works of art for the market with its advantaged sales continuing to flourish. Apart from the excellent resources for the sales like Classical Chinese Paintings and Calligraphy, Seal Cuttings, Ancient Books and Ink-rubbings and Scholar’s Zisha Wares, more have been invested to keep advantaged categories for our loyal customers with our academic capabilities transformed into the response to the changes of the industry. The result shows eight sales including Chinese Paintings & Calligraphy by Top Members of Xiling Yinshe, Important Chinese Ceramics and so on reached a ninety percent sell-through rate. The lots ofTwin Peaks: Seal Cuttings by Wu Changshuo and Qi Baishi were completely sold. Chinese Paintings & Calligraphy by Top Members of Xiling Yinshe and three ceramic sales totaled over RMB 100 million while the letters and manuscripts in the Classical Chinese Paintings and Calligraphy broke two records, all of which presented clear evidence of strong recognition of the valuable brand by the market.


Classical Chinese Paintings and Calligraphy


Five sales of Chinese paintings and calligraphy surpassed RMB 400 million in revenue, including five lots totaling more than RMB 10 million and thirteen lots sold for more than RMB 5 million, indicating the strong appetite of the market and potential values of the artworks as always.

Wang Hui  Village

Starting Price: RMB 5,000,000

Sale Price: RMB 11,500,000


Classical Chinese Paintings and Calligraphy were sold for RMB 200 million in total with high hammer prices, high premiums and a high sell-through rate. Paintings and Calligraphy by Bada Shanren topped the whole sale by RMB 21.62 million. Wang Hui’s painting Village started bidding at RMB 5 million and ended up with RMB 11.5 million. The painting Sailing in the Spring painted by the master Yao Shou in the early Ming dynasty was sold for RMB 7.475 million. The Letters Dedicated by Ji Xiaolan, Liu Yong, Yu Minzhong, etc. to Dong Bangda and Dong Gao even fetched RMB 4.6 million, 40 times higher than its low estimate of RMB 100,000, making it a star lot with the highest premium in this sale.  

Yao Shou  Sailing in the Spring

Starting Price: RMB 4,000,000

Sale Price: RMB 7,475,000

Ji Xiaolan, Liu Yong, Yu Minzhong, etc.  Letters

Starting Price: RMB 100,000

Sale Price: RMB 4,600,000


The letters and manuscripts in the Classical Chinese Paintings and Calligraphy were the focus and detonated the fierce competition from the beginning. Among them was a small piece of calligraphy by the master in the early Qing dynasty called Wang Shimin. The lot started its bidding at RMB 100,000 and finally rose to RMB 690,000 after ten-minute biddings. Zhang Fengyi’s calligraphy in regular script was even eye-catching for its record-breaking sale price of RMB 1.61 million for the artist’s work, about sixteen times the low estimate. The calligraphy by Zhou Ding, a scholar in the early Ming dynasty also contributed RMB 2.185 million which was over five times higher than the low estimate and a new record for Zhou’s calligraphic works. All the letters and manuscripts by the masters in Ming and Qing dynasties were sold for nearly RMB 25 million. 


The Modern and Contemporary Chinese Paintings and Calligraphy was highlighted by good collections and reliable provenances. Topping the sale of Chinese Paintings & Calligraphy by Top Members of Xiling Yinshe was the painting Waterfall of Tianchi painted by Fu Baoshi, which was illustrated twice and finally sold for RMB 16.1 million, far higher than its low estimate of RMB 3.6 million. The lot Blooming Flowers by Lin Fengmian, which was directly acquired from the artist, was ended up with a sale price of around RMB 3.85 million after multiple rounds of biddings from its low estimate of RMB 1 million.

Fu Baoshi  Waterfall of Tianchi

Starting Price: RMB 3,600,000

Sale Price: RMB 16,100,000


Important Manuscripts and Photographs


Starting with the lot Important Literatures of Wang Shixiang Dedicated to Jin Xiya, the sale of Important Manuscripts and Photographs also faced fervant competition. Among the lots was thirty-four important letters dedicated by Wang Shixiang to Jin Xiya about publishing Ke Zhu Xiao Yan. The lot started at RMB 180,000, but after the biddings from inside and outside of the salesroom, it fetched about RMB 1.66 million at last. The other five lots similar to this blockbuster also performed well, sold for RMB 2.375 million.


After that, Lot 2460 Wang Guowei’s work Ci Jun Xuan Ji attracted the attention of the whole house. Published and illustrated continuously since 1928, the masterpiece set off the fiercest competition and the widest recognition for its highest hammer price. RMB 5.865 million was not just a sale price, but also evidence of the market’s affirmation and pursuit of high-quality collections, as well as the persistence of Xiling Yinshe Auction in strict selection. 


Among the manuscripts by famous foreign masters, Isaac Newton’s precious autograph manuscript about the analysis of leadership structure of the early Christian Church, which was written on a small piece of paper sized 29 x 18cm between 1710 and 1720, was sold for RMB 598,000. Such masterpieces are getting more and more popular among Chinese collectors. 

Wang Shixiang  Important Autograph Letters Signed to Jin Xiya about Publishing Ke Zhu Xiao Yan

Starting Price: RMB 180,000

Sale Price: RMB 1,667,500

Wang Guowei  Ci Jun Xuan Ji

Starting Price: 900,000

Sale Price: RMB 5,865,000

Isaac Newton  Precious Autograph Manuscript about the Analysis of the Leadership Structure of the Early Christian Church

Sale Price: RMB 598,000


Fine Ancient Books and Ink Rubbings


Ancient Books and Ink Rubbings have always been supported by collectors since its first hammering. This time, as the first sale, it was closed well. Congratulations to those who have acquired their favorites. 


As the top among the rubbings, Tang Jiu Cheng Gong Li Quan Ming, a rubbing of Southern Song dynasty inscribed by Pan Yijun, which featured its perfect calligraphic art and precious inscription dated 1816 on its back cover with the seal of Pan Zunqi, was sold for RMB 1.38 million at last and ranked with other nine as one of the top ten Chinese rubbings this year.


Ancient books, especially Buddhist literature and scripts, won the collector’s favors in particular. Among them was Deng Ji Zhong De San Mei Jing, a unique official edition of the Yuan dynasty dated back to six hundred years ago, was finally sold for RMB 2.35 million from RMB 1.5 million for its graceful calligraphic art, exquisite binding, uniqueness as an official edition and high values for the research on the culture and art of Yuan dynasty.

[Pan Yijun]  Tang Jiu Cheng Gong Li Quan Ming

Starting Price: RMB 500,000

Sale Price: RMB 1,380,000

Deng Ji Zhong De San Mei Jing

Starting Price: RMB 1,500,000

Sale Price: RMB 2,350,000


Seal Cuttings by Modern and Contemporary Masters · Fine Inkstones


Seal cuttings and inkstones were sold in three sales which were all sold for high prices with a high sell-through rate of over 80%. Twin Peaks: Seal Cuttings by Wu Changshuo and Qi Baishi was even 100% sold. 


The Qingtian stone seal with ‘Wuyanlou’ mark engraved by Chen Hongshou for Yuan Tingtao’s private use started at RMB 300,000 and ended up with RMB 1.058 million. As a famous book collector in Qing dynasty, Yuan Tingtao collected more than 70,000 books in Wuyanlou, including precious ones written in Song dynasty and block-printed in Yuan dynasty. The Qingtian stone seal with ‘Wuyanlou’ mark was once impressed on Dong Qichang’s painting and exceptional for its multiple illustrations in the past. 


Zhou Mingqian, a Shanghai-based collector, like Chen Julai, was a disciple of Zhao Shuru. As such the seals used by his family were engraved by none other than Chen Julai. The exquisite seals engraved by Chen Julai and authenticated by Zhou Mingqian used to be impressed on masterpieces multiple times, were warmly welcomed by the customers and sold for the price six times higher than their low estimates. 


An inkstone inscribed by Emperor Qianlong in Qing dynasty was sold for RMB 6.67 million, leading the Fine Inkstones and Inksticks. The lot was mentioned in Qin Ding Si Ku Quan Shu and Qing Gong Nei Wu Fu Zao Ban Chu Dang An Hui Zong (Collective Archives of the Royal Workshop of Qing Imperial Household Department), collected by Hashimoto Dokuzan and Lin Xiongguang successively, and later illustrated in the book The Finest Chinese Inkstones

Qing Dynasty  A Qingtian Stone Seal Engraved by Chen Hongshou for Yuan Tingtao’s Private Use

Starting Price: RMB 300,000

Sale Price: RMB 1,058,000

Qianlong Period, Qing Dynasty  An Inkstone with Imperial Inscription

Starting Price: RMB 3,800,000

Sale Price: RMB 6,670,000

100% sell-through rate for the sale Twin Peaks: Seal Cuttings by Wu Changshuo and Qi Baishi


The three sales of the Chinese Ceramics department, barely established in 2020, fetched over RMB100 million. Important Chinese Ceramics brought together over 60 works, catering to collectors having a penchant for the ceramics of the Song dynasty, ending up with a total sale of RMB 53.84 million (98% by lots). Masterpieces like a tripod 'Yaozhou' censer with flower and phoenix patterns and a blue-and-white vase with lotus pattern from Qianlong period, Qing dynasty were sold at remarkable prices.

A Tripod 'Yaozhou' Censer with Flower and Phoenix Patterns

Starting Price: RMB 3,500,000

Sale Price: RMB 7,015,000

A 'Longquan' Pale Celadon Censer with String Pattern

Starting Price: RMB 1,200,000

Sale Price: RMB 2,415,000


Objects of archaic style began to prevail in the Northern Song dynasty. Scholars were committed to the study of the literature on archaic objects since then. What was more, such objects were used in daily life, especially in the imperial court. Offering vessels made by Ru and Guan kilns used in the ancestral temple in the Song dynasty were based on bronze vessels of the Shang and Zhou dynasties, and then followed by other kilns. Therefore, the two elaborate censers were also the incarnation of the dynasty.

Qianlong Period, Qing Dynasty  A Blue-And-White Vase with Lotus Pattern

Starting Price: RMB 2,200,000

Sale Price: RMB 4,945,000

A 'Ru' Celadon Narcissus Pot

Starting Price: RMB 1,800,000

Sale Price: RMB 3,450,000

A 'Guan' Celadon Dish

Starting Price: RMB 2,000,000

Sale Price: RMB 4,140,000


Study Series·Refined Articles in the Study


Xiling Yinshe Auction is dedicated to preserving refined articles in the study with clear provenance. The strong performance of the sales of this category inspired the whole auction market.


The long-prepared, extensive Yanputang's Collection of Scholar's Rocks and Articles was a big hit, encouraging bidders to chase after exquisite works with clear provenance. The sale, ending up with nearly RMB 20 million, selling 98% by lot, indicates collectors’ interest in scholar’s rocks and the huge market potential.


Ming Dynasty  A 'Ying' Scholar's Rock, a 'Lingbi' Stone Carving Group Collected by Mi Wanzhong and Calligraphy by Mi Wanzhong

Starting Price: RMB 680,000

Sale Price: RMB 2,357,500


The sale of scholar’s rocks dated back to the autumn of 2008 when Xiling Yinshe Auction launched the first sale of the kind. The 2020 Autumn Auction marked the beginning of the 17th year of Xiling Yinshe Auction, apart from scholar’s rocks, we also had horizontal inscribed boards and other fine articles in the study presented. A 'Ying' scholar's rock, a 'Lingbi' stone carving group collected by Mi Wanzhong and calligraphy by Mi Wanzhong stood out in the sale.

Qing Dynasty  A Chrismatine Scholar's Rock Collected by Zhang Daqian

Starting Price: RMB 180,000

Sale Price: RMB 1,667,500

Ming-Qing Dynasty A 'Lingbi' Scholar's Rock Collected by Li Jiafu

Starting Price: RMB 300,000

Sale Price: RMB 1,610,000


The eclectic mix of fine articles in the study presented in the welcoming auction featured its well-preserved tradition. Despite the inspiring performance, the Department of Refined Articles in the Study will explore more elaborate and inspiring works.


Illustrations and Comics


The sale of Comics, Illustrations & Cartoons by Chinese Masters was a big hit, with collectors quite satisfied with their trophies of posters and Chinese paintings after intensive bidding battles. The sale was led by drafts of the cartoon Havoc in Heaven created by Zhang Guangyu and Zhang Zhengyu. Bidding started at RMB 800,000 and quickly rose to the final sale of RMB 1.4375 million. The two artists manifested themselves in the drafts, showing their profound understanding of ethnic culture and traditional Chinese art and excellent painting skills. The lot was provided by the family of Zhang Zhengyu. The art value and clear provenance encourage bidders to raise their paddles one after another.  

Zhang Guangyu (1900-1965) And Zhang Zhengyu (1904-1976)  Drafts of the Cartoon Havoc in Heaven

Starting Price: RMB 800,000

Sale Price: RMB 1,437,500


Chinese Zisha Wares


The strong performance of Chinese Zisha Wares, Tea Sets and Fine Tea was evidenced by the extremely packed room. The 3-hour intensive bidding among different buyers explained how fine those Zisha wares were and how deep the bidders’ love for the exquisite works. The sale achieved a combined total of over RMB 25 million (94% by lots). A fine teapot with poetry inscription and ‘Hugong Yefu’ mark made in the mid-Qing dynasty produced a sustained bidding battle before selling for RMB 4.025 million. The inscription and painting on the teapot were inspired by the work of Yun Nantian, and the straight design of the teapot was just like what was described in Zhouyi: Men should be honest and play it straight. The sale of this teapot was a sign of Xiling Yinshe Auction’s role as a leader in studying and preserving fine scholar’s Zisha wares.

Mid-Qing Dynasty  A Fine Teapot with Poetry Inscription and ‘Hugong Yefu Mark

Sale Price: RMB 4,025,000


Chinese Buddhist Art


The sale of Elegant and Magnificent·Chinese Buddhist Art shone brightly in the auction, inspiring a flurry of intense bidding between clients and phone bidders in the salerooms. The exciting auction week saw a stronger performance of Chinese Buddhist art than that of the last spring auction, achieving a high turnover rate of 90%. A huge, exquisite gilt-bronze figure of Bhaisajyaguru from the Ming dynasty, the back cover of the catalog, was sold for RMB 4.3125 million against an estimate of RMB 1.5 million. A wood figure of Avalokitesvara in a casual posture from the Yuan dynasty, printed on the second cover of the catalog, was valued by collectors and achieved RMB 1.495 million in the end. 

Ming Dynasty  A Gilt-Bronze Figure of Bhaisajyaguru

Starting Price: RMB 1,500,000

Sale Price: RMB 4,312,500

Yuan Dynasty  A Wood Figure of Avalokitesvara

Sale Price: RMB 1,495,000


Ancient Jade Art · Contemporary Jade Carvings


The two jade sales were among the most sought-after categories. For ancient jade, works from Qianlong period of the Qing dynasty were all sold at exciting prices. A white jade censer with 'Chi' pattern from Qianlong period fetched RMB 632,500, suggesting that the elaborate jade works from the Qianlong period remained the apple of collectors’ eyes. A white jade carving with landscape pattern by Qu Lijun shone brightly in the sale of Jade Carvings by Contemporary Chinese Masters, realizing over RMB 4.5425 million after several minutes of intense bidding. The fine work was illustrated and exhibited many times. The work designed by Qu based on the material to depict a landscape of a boat sailing on the river was a rare masterpiece. 


Qianlong Period, Qing Dynasty  A White Jade Censer with 'Chi' Pattern

Sale Price: RMB 632,500

Qu Lijun (b. 1970)  A White Jade Carving with Landscape Pattern

Sale Price: RMB 4,542,500


Magnificent Jewels


The sale of Oriental Beauty: Magnificent Jewels continued the tradition of offering excellent jadeite and colored diamond works. Enthusiastic bidders struck around for quality lots including an exquisite icy jadeite necklace set with 41 icy jadeite beads measuring 13mm-15mm in diameter, producing a very impressive result: RMB 16.1 million. Handsome icy jadeite and rare, fine jewels have been widely and highly praised.

An Exquisite Icy Jadeite Necklace

Sale Price: RMB 16,100,000


Besides, Chinese Paper Money & Coins saw inspiring sale rates and hammer prices. Famous Chinese Wine was doing well in the Xiling Yinshe 2020 Autumn Auction. Kweichow Moutai made in celebration of the 50th anniversary of the national day opened at RMB 50,000 and inspired multiple bids before being won at RMB 195,500. Kweichow Moutai made in 2011 in bronze ware-form decanters was sold for a handsome RMB 920,000. 


More Efforts for More Promising Future 

Consolidate the Leading Position in Chinese Art Market


Fine Ancient Books and Ink Rubbings presented important documents to celebrate the 100th anniversary of the founding of the Communist Party of China. The earliest and rare edition of Manifesto of the Communist Party translated by Chen Wangdao, the second edition published in September 1929, was limited to only 1000 copies. It played a key role in transmitting Marxism and establishing the Communist Party of China. Only over ten copies of the first and second editions of the book collected by museums, libraries, archives and memorial halls, were known before the lot was found. The manifesto is really a light of a century ago and is still shining our marching way ahead.

[Chen Wangdao]  The Earliest and Rare Edition of Manifesto of the Communist Party

Sale Price: RMB 667,000


Together with China Hangzhou West Lake Expo, The China (Shenzhen) International Cultural Industries Fair, China (Beijing) International Tea and Tea Ceremony Exhibition, China International Cartoon & Animation Festival and so on, Xiling Yinshe 2020 Spring Auction was titled the Most Valuable Exhibition Brand of 2020 by Hangzhou Convention and Exhibition Industry Association in November, 2020.


The 2019 China Antiques & Artworks Auction Market Statistical Annual Report released by China Association of Auctioneers showed that Xiling Yinshe 2019 auctions were among the top three in China in terms of profit, tax payment, contribution to industry chain, charity activities, etc.


We are in an age when culture is an integrated part of China’s economic landscape. To be the top in the south of the Yangtze River has never made us so confident in marching more for higher goals.


Fully motivated to be more competitive to incessantly stimulate the confidence of the industry, we will inherit the cultural spirit of Xiling Yinshe and unleash more momentum and creativity to push the development of the cultural industry of Zhejiang to a higher level. 


Standing consignments for Xiling Yinshe 2021 Spring Auction are available now!

Wish you all the best in the upcoming new year!










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