Chu Teh-Chun is now seventh in the Artprice 2021 rankings, just behind his fellow citizen Zao Wou-Ki.
The White Forest has increased 321-fold in 25 years: bought for $17,000 in 1994, it sold for $5.5 M in 2020.
A work by the other master of lyrical abstraction from China fetched a record price. His 1986 triptych Winter Harmony sold for $29.5 M at Sotheby’s Hong Kong on April 18, a record even though his works’ overall value has risen by over 2,000% since 2000, a trend that accelerated after his death in 2014. For example, the price of his painting The White Forest has increased 321-fold in 25 years: bought for $17,000 in 1994, it sold for $5.5 M in 2020. Chu Teh-Chun proves that the rush for NFT and contemporary artists like Banksy has not eclipsed demand for modern masterpieces.