A $100 M. Warhol ‘Mao’ at Gagosian Could Signal More Selling from China

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When the Long Museum, the private institution founded by Chinese mega-collectors Liu Yiqian and Wang Wei, began selling work last year, it felt like a sign of the times. It meant that Asian collectors were not only being less active in terms of buying. They were actively selling, too.

Previously, the paintings being sold by collectors like Liu and Wang—a $34.9 million Modigliani that appeared at Sotheby’s last year, for example—came from the West and made their way to China via flashy purchases. Today, it is the opposite: these very same paintings are being sent back to the West, where they will likely find new buyers.

Now, there is news of at least two major paintings on the market that appear to come from China: a Warhol that, according to a source close to the gallery, is priced in excess of $100 million and a Basquiat that sold in 2013 for $29 million.

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A $100 M. Warhol ‘Mao’ at Gagosian Could Signal More Selling from China