China's largest auction house set a sales record in the last three years of 67.5 million yuan (8. 13 million US dollars) at its autumn auctions.

Kou Qin, vice-president of China Guardian Auctions Co. Ltd., said that most of the auctioneers never anticipated record auction sales of this kind.

Kou is especially happy with the auction of 20th century Chinese fine arts works.

"Red Mountains in Autumn," by landscape painter Li Keran (1907- 89) sold for 4.07 million yuan, a figure rarely seen at auctions for Chinese paintings.

Wu Guanzhong's oil painting "Red Lotus" sold for 1.32 million yuan. Chen Yifei's "Real Love", sold for 660,000 yuan.

According to Kou, "Guardian" wants to review major developments in the history of Chinese painting.

"Guardian" has made huge profits selling antique chinaware. A flat vase made during the early Qing Dynasty (1644-1911) was auctioned for 4.19 million yuan.

The auctioning of the world's oldest alcohol attracted collectors from all over the world. The spirit sold for 3.5 million yuan.

Collection markets have been influenced by the Asian economic crisis. "Guardian" sold its collection for 51.53 million yuan at large-scale auctions in spring this year.

"We might see a similar wave of auction buying in the future", said Wang Yannan, "Guardian's" president.