Zhang Daqian Surpasses Picasso As Top Auction Earner

Chinese artist Zhang Daqian has knocked Picasso from a very high pedestal.

The artist generated $506.7 million from auctions in 2011 alone. Close behind the best-seller was another Chinese artist, Qi Baishi. Warhol was third ($324.8 million) and Picasso ($311.6 million) -- the former top seller -- took fourth. Another Chinese artist, Xu Beihong rounded out the top five with $212.9 million in sales.

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