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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition World Hong Kong Picasso sale aims to tap China demand AFP - 2 hours 20 minutes ago Send IM Story Print HONG KONG (AFP) - – Picasso masterpieces worth millions of dollars are to go on sale in Hong Kong Friday as dealers cash in on growing interest from wealthy investors looking for art beyond China's borders. Sothebys is hosting an exhibition of the Spanish artists work that will also offer collectors the chance to buy pieces from across Picassos career. The auction house has announced an exhibition and sale of works by Impressionist and modern painters, ranging in price from two million to 25 million US dollars. It will include pieces by Renoir, Chagall, Degas and Monet, though works by Picasso are expected to steal the spotlight. The sale showcases works from across much of Picassos life, including his Blue Period, Cubism and Neoclassicism from the 1920s, and his post-1960 Expressionist paintings. The star of the exhibition is "Jeune Fille aux Cheveux Noirs (Dora Maar)", a 1939 portrait of the artists lover, Dora Maar. "The most exciting and active growth in collecting today is occurring in China and other countries in Asia," said David Norman, co-chairman of Sotheby's impressionist and modern art department. "We wanted to bring great works of art directly and exclusively to that audience." Unlike an auction, the Hong Kong sale will see buyers pay the asking price for a painting, although the figure could go higher if more than one buyer wants a particular piece. The southern Chinese city of seven million people has become the world's third-largest auction hub after New York and London, thanks in large part to China's growing political and economic prowess. Mainland Chinese are regular buyers of the top lots at sales of art, jewellery and wine, reflecting their growing wealth and increasingly sophisticated tastes. In October, an Asian buyer bought a 1965 Picasso painting "Le Modele dans l'Atelier" for 16 million Hong Kong dollars (2.1 million US) at an auction in Hong Kong by South Korea-based Seoul Auction. Recommend Send IM Story Print Related Articles US-ENTERTAINMENT Summary Reuters - Friday, November 26 Billy Joel recovering from double hip replacement Reuters - Friday, November 26 Warner Bros. trademarks "Quidditch" lingerie Reuters - Friday, November 26 Presenter Ross joins forces with Big Brother team Reuters - Friday, November 26 Disney animators faced knotty problem with 'Tangled' AFP - Friday, November 26 News Search Top Stories Europe bans baby bottles with Bisphenol-A Irish bailout talks accelerate as PM faces new setback Merkel seeks to soothe markets on eurozone Wealthy Americans say: 'Tax us' to ease deficit' Toyota still in 'crisis' one year after recalls More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended US, S.Korea plan war games after N.Korean attack New AIDS cases fall by one fifth in a decade: UN Many cancers detected late in US: study British students clash with police during fees protest General strike cripples debt-hit Portugal More Most Viewed » 'Naked' airport scanners may be 'dangerous' EU fines 11 airlines 800 million euros for air cargo cartel Pilgrims stone 'devil' as Muslims celebrate Eid World leaders scramble for funds to save the tiger US, S.Korea plan war games after N.Korean attack More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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