Chinese pay record prices for Chinese art

It seems that the Chinese, lately many of which are amassing great wealth are investing in their own art and culture. They are buying up Chinese artifacts, such as sculptures and paintings from the Dynasties back from museums and governments. A recent Sothebys auction sold this rare piece for 69.1 million HK dollars or 9 million U.S. The auction netted $200 million. Article about auction at Sothebys.

The purchases are as much about patriotism as a love of art,'' said Cai Mingchao, general manager of Xiamen Harmony Art International Auction Co., who last year paid a record HK$116.6 million for a Ming Dynasty Buddhist bronze statue. ``Many of us just want these Chinese treasures to come home.'' source of article Bloomberg.com