NEW YORK, April 16, 2015 /PRNewswire/ -- "Ink Lotus," a painting by His Holiness Dorje Chang Buddha III, sold for $16.5 million at a recent auction held at Gianguan Auctions in New York. He is an American artist known for his Chinese paintings, oil paintings and sculptures.
The painting was independently appraised by a licensed and certified art appraiser, who is an expert in taxation and estate settlement in probate court, for US $10.5 million. The appraiser is experienced in appraising the arts of calligraphy and painting for the Smithsonian Museum and the Metropolitan Museum of Art, among others. He has more than 40 years of professional experience.
The artwork was part of a fierce bidding war and represents the highest price paid for any work at the spring auction held from March 13th through 22nd.
The artist is the highest world leader of Buddhism and has been recognized globally for his contributions to his religion with the World Peace Prize, the Presidential Gold Medal, and the Martin Luther King Award, among others.
His paintings are on display at the International Art Museum of America in San Francisco and the H.H. Dorje Chang Buddha III Cultural and Art Museum in Los Angles County, California. The artist lives with his family in California.
"Ink Lotus," with two artists seals, contains the artist's statement in calligraphy that translates as: "An utter chaos strewn with broken strokes: a peculiar sight, yet wondrously endowed with soul-soothing charm." The work is mounted, ink on paper, and ten square feet in size.
His Holiness' limited edition reproductions also hold the price record, exceeding that of such world-renowned painters as Picasso, Monet, Van Gogh, Cezanne and Gauguin. The artist's limited edition of 200 copies of his "Carp in Lotus Pond," for instance, auctioned at $380,000 for one piece.
Art by H.H. Dorje Chang Buddha III is expected to increase in value as the artist is now focusing solely on Buddhist activities, and will no longer pursue painting.
Mary Frances Duffy
The Dilenschneider Group
SOURCE Gianguan Auctions