HA NOI (VNS)— A painting entitled The Rice Seller by Nguyen Phan Chanh was sold for US$390,000 last weekend at an auction held by Christie's International in Hong Kong, setting a new record for a work by a Vietnamese artist, according to Bloomberg.

The 1932 work was initially valued at just $75 because it was mistakenly identified as a work of a new painter. After it was forwarded to specialists in Asia, they recognised the painting by the artist's signature on the back of the canvas and valued it at between $100,000 and $130,000.

The buyer of the ink and gouache on silk painting was Hong Kong-based dealer Pascal de Sarthe.

Chanh (1892-1984) was best known for his woks on the young women of rural Viet Nam.

The previous highest price for a Vietnamese painting at auction was the $370,000 received at Sotheby's in Hong Kong for a piece by Le Pho in April 2012.-VNS