http://www.businesstimes.com.sg/premium/world/hk3m-record-set-vietnamese-art-20130527
PUBLISHED MAY 27, 2013
HK$3m record set for Vietnamese art
Nguyen Phan Chanh work initially valued at £50 by mistake
[HONG KONG] A painting that was initially valued at just £50 (S$96) sold for HK$3.03 million (S$494,000), setting a record for a Vietnamese artist's work at Christie's International in Hong Kong on Saturday night.
When the British seller of the 1932 work by Nguyen Phan Chanh entitled La Marchand de Riz (The Rice Seller) took it to Christie's in London, it was mistakenly identified by a trainee as an unsigned Chinese work.
After it was forwarded to specialists in Asia, they recognised the painting by the artist's signature on the back of the canvas and valued it at between HK$800,000 and HK$1 million.
"The provenance is impeccable," Jean-Francois Hubert, Christie's senior consultant for Vietnamese art, said in the saleroom. "It's in its original frame by Parisian framer Gardin and it was exhibited in 1934 in Napoli." The buyer of the work, Kong-based dealer Pascal de Sarthe, said he and his wife Sylvie plan to hang it in their bedroom.
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