Daily Archives: October 6, 2009

“Turandot” Debuts At Beijing’s Bird’s Nest

Zhang Yimou Directs The Puccini Masterpiece For Second Time

Zhang Yimou is directing "Turandot" for the second time; This time in a much newer venue

Zhang Yimou is directing "Turandot" for the second time; This time in a much newer venue

Chinese director Zhang Yimou has, over the years, become the “go-to” man for large-scale productions in China. From his “Impression” shows in Guangxi Zhuang Autonomous Region and elsewhere in China to the opening ceremonies at the Beijing Olympics, Zhang has developed a name for himself as more than a filmmaker. This week, Zhang flexes his theatrical muscles once again, directing the Puccini opera Turandot for the second time (the first was in 1998) at one of the country’s largest venues — Beijing’s National Stadium, colloquially known as the “Bird’s Nest.”

Sina English, via Xinhua, writes about the debut performance:

The opera began at about 7:30 p.m. The composing team set up a 1,000 square meter screen with 40 million pixels and 32 projectors at the stadium.

“The Bird’s Nest version of ‘Turandot’ brings to the audience a completely new audio-visual feast with modern and fashionable elements,” said Zhang.

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Luxury Car Sector Continues To Thrive in China

New Models, Stimulus Package Continue To Drive Growth In World’s Top Automotive Market Despite Global Woes

China is one of Audi's most reliable and profitable markets; As Chinese luxury auto brands emerge, will they retain their dominance?

China is one of Audi's most reliable and profitable markets; As Chinese luxury auto brands emerge, will they retain their dominance?

The sustained growth seen in the Chinese automotive market over the last year has shown that the vast Chinese market — vast both in size and in potential customers — still has plenty of room to grow. For luxury carmakers, who’ve had a tough year in markets like North America and Europe, recent figures that show Chinese buyers are still motivated to part with their cash are welcome, to say the least, as formerly reliable customers in the US and other major economies think twice before signing on the dotted line.

According to this Wall Street Journal Asia article, growth in the Chinese market has been unprecedented in recent months for foreign luxury automakers, and with the stimulus package — aimed at infrastructure projects — taking effect, companies like Audi (a favorite of China’s government elite), BMW (the flashy entrepreneur’s choice) and Mercedes (the mark of a true “sophisticate” in China) expect to see their fortunes continue in the years ahead:

Audi’s sales in China rose 37% in September from a year earlier to more than 15,000 cars, marking a new record level in terms of monthly vehicle sales, the Ingolstadt, Germany-based auto maker said.

In the January-to-September period, Audi’s sales totaled 108,859 vehicles in China, up 20% from a year earlier.

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“The Chinese Are Out In Force” At Sotheby’s Hong Kong Auctions

Mainland New Collectors Pushing Contemporary Chinese Art Nearly Back To 2007 Levels As Classic Chinese Photography Sells Out

Sold in Hong Kong for $1.1 million USD, $372,000 over high estimate: Zhang Xiaogang's "Comrade (Diptych)" Image: Sotheby's

Sold in Hong Kong for $1.1 million USD, $372,000 over high estimate: Zhang Xiaogang's "Comrade (Diptych)" Image: Sotheby's

There’s been no shortage of jaw-dropping figures coming out of Sotheby’s Hong Kong autumn auction, as this weekend’s fine wine auctions brought in nearly US$8 million, Fine Chinese paintings took in US$23.5 million, 20th century Chinese art made US$14 million and today’s contemporary Chinese and other Asian art pulled in almost US$15 million — mainly on the strength of contemporary Chinese artists like Zhang Xiaogang, Zeng Fanzhi and Yue Minjun. Among the countries represented in the Asian contemporary art sale — China, Japan and South Korea — sales of Chinese art were the most consistent and showed the highest sell-through.

With spirited bidding by mainland Chinese collectors, and important milestones like 100% of the classic Chinese photography selling out, it looks like the contemporary Chinese art market is back in business in a very significant way, driven more by domestic rather than foreign demand as its performance parallels the Chinese economy. The prevalence of mainland collectors in all of this week’s auctions could really indicate that these autumn auctions are a major turning point in contemporary Chinese art as the point at which the Chinese collector really came into his own.

Although news reports are still forthcoming about the buyer breakdown, based on the turnout these last few days it seems as if Golden Week has indeed attracted many mainland Chinese collectors to depart with their gold in Hong Kong. From Bloomberg yesterday, regarding Chinese buyers at yesterday’s auction of Fine Chinese paintings:

The Chinese are out in force,” said Jerome Chen, 60, a Hong Kong-based collector…“It’s hard to outbid them.”

Low-key and unassuming, the Chinese buyers at yesterday’s auction sat mostly clustered in the back rows, watching their rivals and whispering into mobile phones between bids. China’s accelerating growth and a 50 percent gain in the benchmark Shanghai stock index from the same time last year have generated wealth and stirred buyer confidence.

The fresh figures coming out of Hong Kong this morning indicate that these “low-key” Chinese bidders were not only present, they dominated at the contemporary Asian art auction, pushing contemporary Chinese art prices to some of the highest levels seen in the last couple of years. One of China’s premier contemporary artists, Zhang Xiaogang, attracted the highest bid with his “Comrade (Diptych)” going for US$1.1 million  (US$405,000 over high estimate), and top artists like Yue Minjun (whose “Hats Series – The Lovers” sold for US$823,000, US$372,000 over high estimate), Liu Ye (whose “Portrait of L” went for US$467,000, or $209,000 over high estimate), Huang Yongping, Zeng Fanzhi (who sold 5 out of 6 paintings, all above high estimates), Wang Guangyi, Xiang Jing and others all surpassed estimates and found new homes — presumably back in the country of their origin.

In October, Sotheby's will put on a large-scale sale of Asian art in Hong Kong. Will The New Chinese Collector continue to flex his (or her) muscles at that sale?

Yue Minjun had an exceptional showing, taking in $823,000 for "Hats Series - The Lovers"

Following the reputation we’ve seen developing over the last several months, Chinese collectors are fast becoming notorious in the auction world as sophisticated and determined buyers. As the Bloomberg article about yesterday’s auction notes, either you love [selling to] them or you hate [competing with] them:

It’s very clear the Chinese are holding up Asia’s art market,” said Eddie Leung, 51, an art collector and managing director of Paper Communication Exhibition Services, in an interview at the venue. “It’s great if you’re a seller, but awful if you’re bidding against them.”

Though James Pomfret, writing for Reuters today, says the contemporary auction had “mixed results,” it seems to us that the Chinese works stole the show. Although some Japanese and Korean pieces did well, they by and large reduced the overall sale figures. Looking only at the Chinese pieces sold, it would seem that this sale was a major success overall:

In the Asian contemporary sale, Chinese artists once again dominated. While there were few blockbuster prices testing the $1 million mark except Zhang Xiaogang’s “Comrade,” solid results were seen for the works of Liu Ye, Li Songsong and Fang Lijun, with most top lots bought by mainland Chinese collectors.