Most of the photos showed the late leader inspecting the countryside, meeting foreigners and attending Party conferences.
Mao was worshipped as a symbol of national power during the period between the founding of New China in 1949 and the end of "cultural revolution" (1966-76).
He appeared center stage in many artworks and photos, and many of the images were taken by the best photographers, using the very latest technologies of the time.
Friday's $55,300 photo by Jiang was taken in black and white and later hand-colored, because color film was not widely used then.
It also highlighted Jiang's favoring of backlighting, a significant influence on Chinese photography during the period.
The past five years have witnessed a boom in demand for photography, especially "red classic" photos that recorded New China's rise, development and reform.
"Our first photo auction in 2006 achieved sales of 3 million to 5 million yuan.
"Last year, two photo auctions exceeded 13 million yuan in sales, a 20 percent rise on the previous year," Li said.
She added there is huge interest from Chinese collectors, both at home and from overseas, as soon as old photos about China appear on the market.
There has been growth too in bidding from public museums and libraries hoping to enrich their collections.
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