An exquisite 18th-century silk scroll sold for 35.8 million yuan (US$4.3 million) at auction in Beijing on Monday, setting a new record for local sales of Chinese art.

Consigned by an overseas collector to the China Guardian Auction Company, the piece will go to a private Chinese museum after a breathtaking round of bidding. The final price, which includes the auctioneering fee, is also one of the highest in the world for an artwork.

The 17-meter-long, 32-centimeter-wide kesi (woven silk scroll) was made at the behest of Emperor Qianlong (r. 1736 - 1795). It displays almost all of the known calligraphic renderings of the poem Lanting Xu (Ode to the Orchid Pavilion) by fourth-century calligrapher and poet Wang Xizhi (321 - 379).

The authenticity is indisputable as the artwork bears the five royal seals of the Qing dynasty (1644 -- 1911) emperors and was recorded in the royal collection index, said Kou Qin, deputy general manager of China Guardian.

Kou said his staff traced the background of the scroll for two years before putting it up for the spring auction, which ended yesterday after the company took in 369 million yuan (US$44.5 million) in bids.

Kou admitted that just minutes before it went under the hammer, there had been discussion that the irreplaceable piece could be passed due to its high reserve price.

But the company, which refused to speculate on a final price, started the bidding at a modest 9.5 million yuan (US$1.2 million). More than 10 bidders rapidly pushed the price up.

Only two people remained when the bids broke through the 20 million yuan (US$2.4 million) barrier: a middle-aged woman and a younger man. Using mobile phones, they raised the price in 500,000-yuan (US$60,200) increments.

The woman fell silent after her competitor offered 31.5 million yuan (US$3.8 million), but she soon raised two fingers.

Eyes went back to her after the man casually took the bid to 32.5 million yuan (US$3.9 million).

Cries of "wait" were heard as renowned auctioneer Zhang Xiangyou repeated the price three times. After a prolonged silence a voice went up from the crowd calling for an end to the auction, which prompted Zhang.

The male buyer, who told China Daily that the piece will go to a private Chinese museum, claimed that the price was reasonable. Kou said the final bid was unexpectedly high.

The previous record for a Chinese artwork was set in 2002, when Yanshan Ming (Record of Yanshan), by calligrapher Mi Fu (1051 -- 1107), was bought at auction by the State Administration of Cultural Heritage for 30.0 million yuan (US$3.6 million) from a private Japanese museum.

(China Daily May 18, 2004)