Make me your Homepage
left corner left corner
China Daily Website

Finding the right niche and the right buyer

Updated: 2013-12-23 10:25
By Yang Yufeng ( China Daily)

The art market on the Chinese mainland started showing signs of strong growth in 2003.

The sluggish market soon gave way to frenzied activity and record prices for artworks. With the capital markets also on a roll around the same time, art investment began to dominate the traditional Chinese collection market.

Although the real estate and stock markets declined subsequently, wealthy investors continued to prop up the art market with their steady appetite for art investments.

However, this also led to an investment bubble, because the presence of too many buyers pushed up artwork prices and sparked the craze for the acquisition of rare masterpieces.

At present, most of the active Chinese art traders in the world are art brokers. Many of them are commissioned by collectors to find good treasures. So long as the price is appropriate, there will definitely be someone willing to pay the bill eventually, but the middleman has to bear the risk of getting fake goods.

There are many auction houses looking for fresh and reliable art collections worldwide, some by way of buyout. These products are eventually shipped to domestic art auctions for higher prices.

Based on the current market analysis, the high-price arena for Chinese art has gradually transferred from Hong Kong to the mainland.

Although a majority of the transactions are still taking place in overseas auctions, the purchasing power is clearly in the hands of Chinese buyers, because foreigners are not very good at determining the real price of Chinese art - and they do not understand the Chinese market either.

The economic recession in Europe and the US, the renminbi appreciation and simplified exit-entry formalities have all led to an increase in Chinese participation at international art auctions and given the domestic art market something to cheer about.

The author is the founder of Zhilanyaji, a Beijing-based art consultancy.

Previous Page 1 2 Next Page

 
8.03K
 
...