An Andy Warhol portrait of former Chinese leader Chairman Mao Zedong is sold in Hong Kong for US$12.6 million. Rough Cut (No Reporter Narration)
ROUGH CUT / NO REPORTER NARRATION An Andy Warhol portrait of former Chinese leader Chairman Mao Zedong was sold at US$12.6 million - much less than the US$15 million it expected to fetch - on Sunday (April 2) in Hong Kong. The painting was bought by a private Asian collector at Sotheby's evening sale. The portrait was on sale three years ago in London and its value has increased by nearly 20 per cent. The total value sale was US$573 million. Patti Wong, Sotheby's Asia Chairman says there's continual interest in western art by Asian buyers. Warhol began his series of silk-screen portraits of Mao in 1972 when ties between then Cold War foes China and U.S. began to thaw after the historic trip to Beijing by U.S. President Richard Nixon.