From Individual Collectors To Hedge Funds, Asset Allocation Is The Name Of The Game
Sui Jianguo's "Legacy Mantle" (2005) is up for auction in Hong Kong this week
We have written several times about contemporary art’s value as a hedge against inflation, and discussed several contemporary Chinese artists whose work is increasingly being purchased by everyone from individual Chinese “New Collectors” to major world museums like MOMA and the Getty. Since there are a number of large-scale auctions scheduled this summer, from auction houses from Sotheby’s and Christie’s to their emerging counterparts China Guardian and Poly from China, Korea’s Ravenel, and Indonesia’s Borobudur, what should those interested parties know about what’s out there in Chinese art?
Posted in Art, auction, China, Chinese Art, Investment, Museums
Tagged Art, artprice global index, asia, asia society, asian art museum, auction, beijing, bloomberg, CCA, China, chinese, christie's, contemporary chinese art, hong kong, legacy mantle, mao, mao jacket, sui jianguo, tian kai
Auction Surpasses Expectations, Stabilizes, Poised to Grow
SOLD THIS WEEKEND: Yue Minjun, Hats Series, Armed Forces
As previously discussed, recent developments have shown that contemporary Chinese art continues to show enduring strength despite an overall weakness in the global art market. As I wrote on Saturday, this weekend’s auction of Southeast Asian art in Hong Kong was a bit of a disappointment, but all eyes were on Sunday’s auction of fine wines and Asian art — which included a mix of modernist and contemporary Chinese works by artists like Lin Fengmian, Zhu Yuanzhi, Huang Yongping, and Sui Jianguo. Unlike the Southeast Asian auction, Sunday’s results most certainly did not disappoint. Showing their resiliance amid a global financial slump, Chinese works destroyed expectations and records alike, bringing in over $20 million. And, as many observers have noted, competition for Chinese pieces was stiff, particularly from buyers from mainland China.
Posted in Art, Business, China, Chinese Art, Investment, Luxury, Museums
Tagged ai weiwei, auction, China, Chinese Art, collectors, Economy, hedge, hong kong, huang yongping, Investment, sotheby's, sui jianguo, yue minjun, zhang xiaogang