Unimaginable even 20-years ago, China has surpassed the U.S. and is the largest art and antiques market in the world, according to a report in the China Daily. China accounted for 30% of sales last year, edging out the U.S. by a percentage point. The UK was third with a market share of 22%. From 2010 to 2011, China sales jumped 7%. The statistics were compiled by the European Fine Art Foundation.The EFAF report said recent drops in Chinese real estate and the stock market has led to significant buying of art as a place in which to invest. As further proof,, after the 2009 economic crisis buying by Chinese collectors increased by 63%.
Chinese Art Buyers Biggest Spenders
March 20, 2012
Controversial Chinese Vase Sells For $40m
January 17, 2013The story begins two years ago, when an 18th century Qianlong porcelain vase sold to a Chinese bidder for more than 50 times its estimate, or $83m at a London auction. It was the highest price ever paid for an Asian work of art. The problem was, that “casino price,” as one dealer called it, was never paid. The bid, according to some, was merely a protest against the original theft of the vase from the Emperor’s Palace in the 1860’s. Now, in a deal reportedly brokered by Bonhams, the vase has finally changed hands in a private sale for an undisclosed sum, reported to be $40m.
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Relics Of Chairman Mao May Sell For $1.6m
September 28, 2012The American collector spent 15-years collecting all things Mao, trinkets, paintings, Warhol and Richter prints, books and an extremely rare 100 yuan note signed twice by the Chairman. A total of 208 lots at a Bloomsbury Auction in London that may fetch $1.6m.
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Inscrutable Price For Chinese Scroll
September 14, 2012The result was as spectacular as it was inscrutable when the hammer came down on a Chinese scroll at Sotheby’s yesterday that went for $3,218,500—3 times more than expected because only half the ink on paper was done by famed artist, Hongren. The second half was obviously executed by someone else.
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Rising Value of Unrestored Cars
By Malcolm Welford, Vintage Car Specialist
