[2025 Autumn Auction] Ni Zan of the Yuan Dynasty sold for HK$160 million at Christie's Hong Kong, setting a new personal record and becoming the first Asian art auction house to sell for over HK$100 million this autumn.
Breaking news: On October 28, 2025, Christie's "Chinese Classical Paintings and Calligraphy" officially launched the auction. Ni Zan's "River Pavilion Mountain Scenery" was estimated at HKD 20,000,000-30,000,000 and sold for HKD 135,000,000 plus premium of HKD 158,625,000.Breaking personal auction record(Breaking the record of CNY 63,250,000 held by Poly Beijing’s “Ink Bamboo” on June 3, 2019).
Auctioneer Chen Liangling hammered down Ni Zan's "River Pavilion and Mountain Scenery" from the Yuan Dynasty for HK$159,950,000.
At Christie's Hong Kong's "Chinese Classical Paintings and Calligraphy" auction on October 28, Ni Zan's "Riverside Pavilion Mountain Scenery" from the Yuan Dynasty, from a prominent North American private collection, attracted many collectors due to its extraordinary provenance and prestigious publication and exhibition history. After more than 45 minutes of fierce competition, it was sold for nearly HK$160 million.The hammer price was nearly 7 times the low estimate, making it the first masterpiece to be sold for over 100 million yuan at an Asian art auction this autumn, and also the fourth most expensive Chinese calligraphy and painting masterpiece ever sold at Christie's in Asia!
A distinguished North American private collection
Lot 653
Yuan Dynasty, Ni Zan
Landscape of Jiangting Mountain
Hanging scroll, ink on paper
81.8 x 33.4 cm.
Painted in 1368
Sold Price: HK$159,950,000
The highest-priced lot at the auction of "Ancient Chinese Paintings and Calligraphy"
This private collection, meticulously amassed over 40 years by a prominent Chinese-American family, is considered one of the most important private collections of Chinese calligraphy and painting in North America.The family had a profound influence on the academic study, appreciation, and popularization of Chinese calligraphy and painting, and made outstanding contributions to the fields of art and education. The family collection presented in this auction fully demonstrates their visionary collecting vision. This painting, "River Pavilion and Mountain Scenery," embodies Ni Zan's reclusive style, and his simple and elegant brushwork has been emulated by later generations.
Auction site
After the work opened at HK$18 million, it quickly attracted multiple bidders, and the price quickly climbed, easily surpassing the high estimate of HK$30 million. From then on, the bidding was primarily conducted by several licensed buyers, who responded calmly, either in person or by phone, each bid increasing decisively and firmly.
Once the price surpassed HK$80 million, the pace of competition slowed slightly, but the intensity remained undiminished. Finally, after several rounds of seesaw bidding, the auctioneer paused at HK$135 million, surveyed the audience, and brought down the hammer. The audience erupted in applause, expressing their deep appreciation for the remarkable sale of this timeless masterpiece.
The final transaction price of HK$159.95 million injected a shot of confidence into the market and also wrote a new chapter in the circulation of this painting that has gone through more than 600 years of vicissitudes.
Features of the work
Ni Zan (1301-1374), courtesy name Yuanzhen and pseudonym Yunlin, was a native of Wuxi, Jiangsu Province. He was not only a leading figure in Yuan Dynasty painting but was also hailed by later generations (especially those like Dong Qichang of the Ming Dynasty) as one of the "Four Masters of the Yuan Dynasty." His artistic philosophy of "freehand brushwork, unrequited resemblance," and "expressing the unrestrained spirit within" profoundly influenced the subsequent development of Chinese literati painting.
The recently sold painting, "Landscapes at Jiangting" (ink on paper, hanging scroll, 81.8 x 33.4 cm), was created in 1368 (the year Wushen). This year, as the Yuan Dynasty neared its end, Zhu Yuanzhang established the Ming Dynasty, making Nanjing its capital and changing the reign title to "Hongwu." Ni Zan inscribed the painting "March 10th, Wushen," using only the sexagenary cycle as the year, without including the reign title. This clearly demonstrates Ni Zan's consistent style as a Yuan survivor, detaching himself from politics and retiring to the mountains and rivers.
In terms of artistic expression, this work is a classic example of Ni Zan's three-part composition of "one river and two banks" in his later years.In the foreground, a few tall trees stand sparsely on a rocky slope, beneath which an empty pavilion stands in silence. The highly simplified scenery, especially the image of the empty pavilion, holds special significance in Chinese tradition. Pavilions, dating back to the Han Dynasty, when Liu Bang served as the "Sishui Pavilion Chief," have served administrative functions. Later generations gradually evolved into places for rest and viewing.
In Ni Zan's paintings, the "pavilion" has been completely symbolized. It no longer has any functionality, but rather is a projection of the artist's personal state of mind - a spiritual space that houses wandering souls and reflects on one's inner thoughts, representing his "traveling thoughts" of many years wandering around Taihu Lake.
In the center of the painting, a large expanse of river water is left blank, using the void to represent the real, creating a vast, empty, and desolate atmosphere. The distant landscape features rolling hills, outlined with a dry brushstroke, resulting in a concise yet vigorous brushstroke. The rock formations assume a unique geometric quality, showcasing Ni Zan's transcendental sense of order and restraint in his brushwork. This composition and brushwork perfectly embody the highest ideal of Chinese literati painting: depicting not the landscape as seen, but the "spiritual spirit within the heart."
The timeline of the collection of "Jiangting Mountain Scenery"
| Time period | Depositor/Related Entities | Key evidence/information | Remark |
|---|---|---|---|
| Late Yuan Dynasty and early Ming Dynasty (14th century) | People of the time (initial circulation) | On the left side of the painting is a poem by Ni Zan's friend Xie Chang, also known as "躄竹" (a type of woodcutter). | This proves that the painting was valued from the very beginning, leaving direct evidence for its early circulation |
| Qing Dynasty - Early Qing Dynasty | Da Chongguang (1623-1692), Wang Hongxu (1645-1723) | The seals are stamped with "Jiangshang Waishi", "Da Zaixinshi" (Da Chongguang), "Yun Zhai Miwan" (Wang Hongxu), etc. | Both were great collectors of calligraphy and painting in the early Qing Dynasty. The succession of their collections during this period is directly evidenced by their collection seals. |
| Qing Dynasty - Mid-Qing Dynasty | Prince Yi Hongxiao (1722-1778) | It is stamped with seals such as "Prince Yi's Seal" and "Mingshantang's Calligraphy and Painting Seal". | The painting was classified as belonging to the royal clan, reflecting its noble status in the Qing Dynasty royal collection |
| Modern times | Wang Jiqian (1907-2003) | Wang Jiqian purchased this painting in America; his collection is known for its finest quality. | This painting is a masterpiece in the collection of Wang Jiqian, a discerning collector of Chinese calligraphy and painting in the 20th century. |
| Since 1956 | Global publishing and exhibition organization | 1. Publication: Included in Xi Longren's "Chinese Painting", Suzuki Kei's "Comprehensive Catalogue of Chinese Painting", and authoritative monographs by Gao Juehong and Fang Wen. 2. Exhibition: "Artist and Collector: Masterpieces of Chinese Painting from the Wang Jiqian Family Collection" at the Metropolitan Museum of Art, New York, 1999 (leading exhibition), and later exhibited at Cornell University, the Asian Art Museum of San Francisco, and other places. | The academic context is clear and the transmission record is irrefutable, achieving academic dissemination and public display on a global scale |
It broke the record of CNY 63,250,000 held by Poly Beijing's "Ink Bamboo Painting" on June 3, 2019.
About the Artist
Ni Zan was a poet, painter, calligrapher, and tea connoisseur during the Yuan Dynasty. He was one of the "Four Masters of the Yuan Dynasty" and a representative of the Southern School of landscape painting. His courtesy name was Fuzhen, also known as Xuanying, and his pseudonyms were Yunlin, Huanxiasheng, Jingmanmin, Fengyue Zhuren, and Xiaoxianxianqing. He was a native of Wuxi, Jiangsu Province. He excelled in landscapes and ink bamboo, following the example of Dong Yuan and influenced by Zhao Mengfu. His early style was clear and elegant, but in his later years he evolved to a simple and innocent style. The trees in the foreground and the regular script inscription in the blank space have almost become his personal symbols.
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