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2010 China Guardian Autumn Auction room, at 8:00 p.m. on November 20th in Beijing, after many rounds of bidding, Wang Xizhi’s Cursive Handscroll Ping An Tie, which was the first piece of his work ever appear in auctions, was auctioned out at RMB 308 million. Wang Xizhi, lived about 1600 years ago, is acknowledged as the founder of the art of calligraphy in China.

Wang Yannan, Director and President of China Guardian, was quoted as saying, “With Wang Xizhi’s Cursive Handscroll Ping An Tie auctioned out at RMB 308 million, a new record was made for both this work of art and this auction session 17 years after the founding of China Guardian, far exceeding our expectations. We are very happy about this. This autumn auction session has a heated atmosphere, attracting great attention from collectors at home and abroad. And we are looking forward to an even better performance.”

Once the auction for Wang Xizhi’s Cursive Handscroll Ping An Tie, the item attracting the most attention in this session, commenced at 8:47 p.m. on November 20th, bidders bid neck and neck in person and through telephone from a bottom price of RMB 55 million yuan, pushing the price to RMB 88 million yuan after only two to three minuets. Suddenly, one bidder jumped directly to RMB 100 million, and then collectors bid one after another by a margin of RMB 10 million yuan. Finally, this artwork was transacted at RMB 308 million.

It is learned that 2010 China Guardian Autumn Auction will continue end until November 23rd at the Conference Center of Beijing International Hotel ,with categories of Chinese painting, oil painting and sculpture, porcelain, furniture, jade, rare books as well as watches.