This imperial embroidered silk Thangka sold for 348 million HK dollars at Christie's 2014Hong Kong Autumn Auctions on Nov 26, 2014. [Photo/Xinhua]

The news that Chinese collector Liu Yiqian splashed around $45 million on a Thangka at a Christie's sale in Hong Kong on Nov 26 has overwhelmed social media. It is said that Liu won the bid through 22 minutes of fierce competition with other bidders, including a foreigner. Then do you know what Thangka is and why it was sold at such a high price?