Sales at the Guardian Spring Auction at the Beijing International Hotel Convention Center totaled 1 billion yuan (US$649 million) on Sunday night. An ink-wash work by famed artist Qi Baishi (1864-1957) set an auction record at 425 million yuan (US$65.4 million) for ancient Chinese painting.

Picturing a falcon on a pine branch, and titled "A Long Life, A Peaceful World," the work was painted in 1946 when Qi was in 80s. It was a gift to Chiang Kai-shek, late leader of the Kuomintang, on his 60th birthday. It measures almost 500 centimeters by 166 centimeters. A floor price was set at 88 million yuan (US$13.54 million) and hit the final price after 50 rounds of bidding.

Another work by the artist was auctioned for 92 million yuan at the occasion which features classical painting and calligraphy, porcelain, oil painting and sculpture, ancient books and other items.

Qi Baishi, who received no formal artistic training, has become the third bestselling artist in the world at auction, just behind Pablo Picasso and Andy Warhol.