A pricey oil painting.

How much would you pay for a painting of Master Xu Yun (虚云大师)?

The full-page ad at left appears on page 5 of the 25 February issue of Phoenix Weekly (凤凰周刊). Apparently, someone is trying to sell off a "modern Chinese oil painting" of the famous Zen master (also known as Empty Cloud), who died in 1959 at the age of 119. The painting, after this photo of the master in meditation, measures 1.2m by 1.68m.

The advertisement states that the "lowest price" is US$18.4 million. Now, a recent Bloomberg article quoted a Sotheby's exec who said that "Chinese art has seen some explosive increases in price in recent years," but somehow this painting still seems overvalued.

Prospective buyers don't have to wait for an auction: they can contact the seller at a free Netease email address.

UPDATE: Before this post went up, Danwei sent off an email to YuBin, the individual who placed the ad, asking about the decision to place an ad versus auctioning the painting, as well as how the painting was appraised. We received a reply on 1 March, and have been given permission to translate it here:

Thank you for the immediate attention your website has given to Master Xu Yun Meditation. We have also noticed that your website is a .org and not a .com.

"Chinese art has seen some explosive increases in price in recent years" - indeed, and it is also a fact that this has caused a bubble. Auction is a traditional means of dealing in artworks, but advertising is even more traditional and natural. A posted price can, to a large degree, help to avoid suspicions of "malicious sensationalism." Our use of the advertising medium did not begin with Master Xu Yun Meditation; if you consult the same ad page in the 5 January and 5 April, 2007, issues of Phoenix Weekly, you will find two more of our "Private Collection" oil paintings: Gone With The Wind and Pioneer. I trust that you will have an even deeper response.

As for 1840 [the 18.4 million figure], on the surface, it is the birth year of Master Xu Yun, as well as a year engraved on the heart of every Chinese with a conscience: the start of modern history in China, when the ancient country entered the tumultuous years that have continued through today. On a deeper level, the painting gives viewers the idea and state of mind of "meditation," which is something that absolutely must not be absent in modern China! A country and a people stand at the crossroads of the future, where they must answer the questions "Who am I? Where do I come from? Where am I going?"

As for whether it "still seems overvalued," we have always believed in the importance of the display, in listening for a sympathetic response, and in selling to connoisseurs.

Thank you for your inquiry. As we face the "meditative" spirit of this Zen leader, we are all in a Zen-like state!

YuBin, Saturday 1 March
Shenyang, China