An embroidered silk panel of Wendi Qing Dynasty, 17th century

embroidered with gold coloured silk floss, the muscular demon with green spikey tufts of hair, bushy eyebrows and wearing a fierce grin bearing his sharp teeth, dressed in an animal skin wrapped around his waist, his right arm holding a brush and his left hand holding an axe head, depicted riding on the back of a sea dragon, a rice bail and a beribboned foliate ring hover in the sky above, all reserved against a dark blue woven ground, with details picked-out in couched gold thread, mounted, framed and glazed

There is general fading to the panel. Some of the threads have come loose and there are only traces of couched gold threads. The blade of the axe is couched, but the gilding has come off. However the overall condition is still quite good.
"In response to your inquiry, we are pleased to provide you with a general report of the condition of the property described above. Since we are not professional conservators or restorers, we urge you to consult with a restorer or conservator of your choice who will be better able to provide a detailed, professional report. Prospective buyers should inspect each lot to satisfy themselves as to condition and must understand that any statement made by Sotheby's is merely a subjective, qualified opinion. Prospective buyers should also refer to any Important Notices regarding this sale, which are printed in the Sale Catalogue.
NOTWITHSTANDING THIS REPORT OR ANY DISCUSSIONS CONCERNING A LOT, ALL LOTS ARE OFFERED AND SOLD AS IS" IN ACCORDANCE WITH THE CONDITIONS OF BUSINESS PRINTED IN THE SALE CATALOGUE."

The character depicted is Wendi, the God of Literature.  He is known to have transformed himself ninety-eight times.  One of his incarnations is that of the star 'Gui',  an ugly demon-like figure.  He is seen holding a pen, a symbol of the literary world.  He is usually depicted standing on a carp or a dragon as the legend of the carp swimming upstream on the Yellow River on the third moon of each year will have to pass through the rapids of Longmen.  Those that make it, will become dragons, and this has become synonymous with literary success for scholars hoping to pass their exams.  He is often confused with Zhong Gui, the ugly scholar who committed suicide after being stripped of his scholarly honors because of his appearance and became the leader of the demons. 

It is interesting to note that in the upper right corner a rice bail and what appears to be a ring with ribbons is depicted.  In other images, the bail is replaced with a book and the ring and ribbons are a constellation.

Images of Wendi as Gui can be seen on a porcelain famille-verte brushpot, sold in these rooms, 8th April, 2007, lot 771 and a Yuan dynasty bronze in the Sumitomo Collection, Tokyo, cat.no.78.