Classic ink painting fetches $35m in auction

A colored ink painting by Chinese artist Fu Baoshi (1904-65) sold for 230 million yuan ($35 million) at a Beijing auction over the weekend.

The God of Cloud and Great Lord of Fate, dated 1954, was estimated to be worth 180 million yuan before the sale at Beijing Poly International Auction on Saturday.

Zhao Xu, executive director of the auction house, said the winning bid was made by a Chinese mainland collector over the phone. He did not release a name.