10 most valuable Chinese paintings and calligraphy in 2016 By Lin Qi(chinadaily.com.cn) : 2016-12-29

1. Five Drunken Kings on Horses by Yuan Dynasty official-painter Ren Renfa, 303.6 million yuan ($44 million)

Classical Chinese paintings and calligraphy pieces generated much interest at both auction and museums in 2016.

Unlike contemporary art prices that rose sharply and then plunged after 2008, the market for traditional art has remained steady. Prices didn't suffer a steep fall even when the art market was struck by the global financial crisis in 2009 and the slowdown of the Chinese economy.

Top-quality artworks by master painters boasting a sound provenance sparked heated bidding in salesrooms throughout the year.

Let's take a look at the top 10 most valuable Chinese paintings and calligraphy sold at auction in 2016.

2. God of Cloud and Great Lord of Fate by Fu Baoshi (1904-65), 230 million yuan

Most recently, Five Drunken Kings on Horses, a color painting of Yuan Dynasty (1271-1368), fetched 303.6 million yuan ($44 million) at a Beijing auction on Dec 4. A packed room of people witnessed a bidding war that lasted about 40 minutes.

Its creator Ren Renfa is little known to many today. He served as a high-ranking official in charge of water conservancy in the Mongol-ruled court while in his spare time, achieved prominence as a painter of horses and grooms.

Because of the rarity of ancient artworks, the sources of their origin are of great significance to collectors who look for key markers such as blue-chip collectors who once owned them and major exhibitions they were featured in.

Ren's painting was kept in Qing's imperial collection and was listed in Shiqu Baoji, a prestigious inventory of Qing emperors' paintings and calligraphic pieces.

3. Peach Blossom Spring, by Zhang Daqian (1899-1983), HK$270 million

Rainy Landscape by Wu Zhen, recognized as one of the "Four Masters of Yuan", fetched 172.5 million yuan in early December in Beijing.

The painting had been kept in the hands of several connoisseurs since Yuan, according to reviews and seals left on the painting. Such a sound lineage of collecting history helps today's collectors determine its value.

The cultural depth of antique calligraphy has also attracted more bidders recently. Jieshi Tie, a Song Dynasty (960-1127) calligraphy letter of 124 characters grossed 207 million yuan at a Beijing auction in May.

Its writer Zeng Gong is considered among the eight masters of prose of the Tang (AD 618-907) and Song dynasties who also include Su Shi and Wang Anshi. Very few of his writing pieces still exist, hence the letter was sought-after.

4. Jieshi Tie by Song Dynasty politician and scholar Zeng Gong, 207 million yuan

Works of modern ink masters continued to dominate auctions. Five were ranked among the top 10 classical Chinese painting and calligraphy sold at auction in 2016. Zhang Daqian produced three of them, showing his enduring popularity among collectors and dealers.

New buyers and entrepreneur collectors made noticeable purchases.

Jieshi Tie was sold to media mogul Wang Zhongjun who is known for collecting contemporary artworks and Western oil paintings.

Self-made Chinese real estate developer Zhang Guiping, 65, was revealed as the buyer of Ren's painting. Zhang, chairman of the Nanjing-based Suning Universal, has accumulated a collection of nearly 3,000 artworks over the past three decades, mostly classical Chinese paintings and calligraphy.

Hoi Kin Hong, chairman of Shanghai-based Powerlong Real Estate, acquired Qi Baishi's Album of Landscapes for 195.5 million yuan and Zhang Daqian's Snow-capped Mountains in Switzerland for 164.4 million yuan at a Beijing auction in December.

The three plan to build art museums to show their valuable collection.