A PIECE of stone carving was sold for 16 million yuan (US$2.08 million) at an auction held Friday during the Third China (Shenzhen) International Cultural Industry Fair (ICIF).

More than 100 collectors were present at Friday's auction at the Citizens' Center in Futian District. The piece of stone carving, made from Tianhuang stone, was created by artist Chen Jianchun.

Two ink paintings by acclaimed artist Qi Baishi were sold for 5.4 million yuan. An oil painting by Chen Xiandong fetched 1.05 million yuan, while an ink painting by Gao Qifeng, father of the popular Lingnan-style ink painting of Guangdong, was auctioned for 2.7 million yuan.

A spokesman for the auction said some 300 works of art at the auction were selected from 30,000 pieces from across the country.

However, another auction on contemporary handicrafts was deserted.

Auctioneer Zhang Jing blamed it on a lack of appreciation for contemporary handicrafts. "The auction with 260 artworks was finished within two hours due to a lack of responses," he said. Handicrafts valued at only 4.6 million yuan found buyers at the event.

However, handicrafts export contracts, worth more than US$7.33 million, were signed at the ICIF.

Editor: Wing