$4 million Chagall painting sets new Asian record

An artwork by Modernist master Marc Chagall became the most expensive contemporary Western painting sold in Asia when it was auctioned for $4.18 million after steady bidding in a Hong Kong sale.

Auction house Seoul Auction sold "Bestiaire et Musique", a 1969 oil painting typical of Chagall's whimsical style, to an unidentified Asian buyer. The auctioneers said the work set a new record in a region increasingly wielding more influence in the global art market. (Reuters)