Tag Archives: chinese art collectors

First Meeting Of Chinese Contemporary Art Collectors Held At Songzhuang Art Festival

Dozens Of New Chinese Collectors Converge To Discuss Art Values, Top Artists, And Closing China’s “Art Gap” Between Key Figures And The Public

The First Annual Conference of Collectors of Chinese Contemporary Art attracted a number of top critics, artists, and journalists

The First Annual Conference of Collectors of Chinese Contemporary Art attracted a number of top critics, artists, and journalists

We’ve been looking a lot at the New Chinese Collector — the up-and-coming art collector who has become a fixture at art auctions around the world without really being understood by many seasoned collectors or auction houses. What is so fascinating about this group is the way that mainland Chinese collectors have really developed organically, and come together out of collective interest in the subject to become more informed about what art is out there, how much it costs — and should cost — and which artists they should be buying for their personal collections.

Recently in China, the 5th Annual Songzhuang Art Festival (which we profiled last month) was held in Beijing, with more than 1,000 artists taking part. As one of China’s most well-attended art festivals — owing mostly to Beijing’s international visibility and status as China’s artistic and cultural center — the Songzhuang festival lends itself to important or high-profile events. This year, one of the most unusual of these was the “First Annual Conference of Collectors of Chinese Contemporary Art” (首届中国当代艺术收藏家年), headed by art critic Li Xianting (栗宪庭). As the domestic audience becomes increasingly interested not only in museums and galleries but in specific types of art, and the middle class continues their (new) tradition of diversifying assets, it will become even more important for the domestic “New Collector” to understand the art and the market itself. At Songzhuang, the “all star cast” of attendees is a good indication that many in China are motivated to help their art market (and art audience) mature and develop rapidly.

As this Artintern article (Chinese) points out, many influential members of the Chinese art world — including conference chairman Li Xianting — feel that it is important for the Chinese collector to become intimately familiar with Chinese contemporary art not only to fill a gap in public knowledge but also to catch up to western collectors of Chinese art:

Chinese contemporary art began with the opening of China [in the late 1970s]. However, with no standard of value in the domestic contemporary art market, collecting and business in contemporary Chinese art was started in the West. Since the late 1970s in Chinese contemporary art — for example after the “Stars Fine Arts Exhibition — foreigners in Beijing have created a ring around the market, a ring which is still increasing. When overseas institutions or individuals gather up works at a low price that we have identified as a representation of Chinese contemporary artwork, then sell them back to China at a very high price, [these artists] are reported in domestic media as overnight successes and superstars. This has been to the detriment of the local Chinese contemporary art market.

At the annual meeting, the Chinese contemporary art critic Li Xianting — the chairman of the event — said, “To establish China’s own contemporary art market, we have to establish China’s own artistic value standards and use these standards to guide the market — is the art guiding the money or is the money guiding the art? China must take its own stand.”

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Rise Of New Chinese Collector Continues As Chinese Antiquities Remain “Recession Proof”

Astronomical Prices Paid For Historical And Quality Pieces In Recent Asian Auctions Defies Global Economic Woes As More Chinese Collectors Get In The Game

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?

Since good works by historical artists like Yue Minjun are becoming more scarce, Chinese collectors are expected to continue to flex their muscles in upcoming auctions of Chinese contemporary art

Hardly any industry has escaped the global economic slowdown unscathed, and art is no exception, but recent auction results indicate that the art market — or at least pockets of the art market — are coming back to life. As the Wall Street Journal reports today, in some recent auctions some pieces have sold for exponentially more than their estimates, surprising collectors and market analysts alike. The common bond shared by most of these pieces? They were Chinese — or, if not Chinese, Asian:

Last week, the longest string of Asian art sales since the Zodiac clock dispute was held in the U.S.—and amid the most entrenched art-market recession in nearly two decades, the auction prices of many more than a handful of pieces went through the roof. At the Sotheby’s sale of works from the collection of Arthur M. Sackler, for example, the auctioneer sang out fast-rising numbers, first in English, then Chinese, as if he were rising in the elevator of some fantastically tall Hong Kong skyscraper.

The emergence of the New Chinese Collector is a subject we’ve followed pretty much since our inception, and is a subject that is endlessly fascinating simply because it’s such a new phenomenon. While, technically, Chinese people have collected art for a few thousand years — with the exception of a few Mao-era decades where the practice was virtually nonexistent but for a few elite art lovers here and there — the New Chinese Collector has only existed for around 20 years, and arguably even less than that. This collector base was out in full force in recent auctions of Chinese and other Asian art — in New York, London and Hong Kong — and the motivation, desire and intensity of the Chinese collector is becoming somewhat legendary right before our eyes.

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