Chinese art buyers

The new Medicis

Will Chinese buyers acquire a taste for Western art?

Oct 22nd 2011 | from the print edition

DEALERS were jittery at the Frieze Art Fair, which ended in London on October 16th and coincided with the autumn auctions. Global economic turmoil has not made wealthy art lovers love art less, but it has made them less wealthy. Auctioneers fear that the catalogue prices they fixed in July or earlier were too high and the price guarantees they gave sellers might return to bite them like a not-yet-pickled shark.

For salvation, the art world is looking east. According to the European Fine Art Foundation, China has overtaken Britain to become the second-largest art market after America. Auction and gallery sales in China were $8.3 billion last year, accounting for 23% of the global market, compared with America’s 34%.

Looking just at auctions, China is already number one. Artprice, an art-market information website, says that China last year accounted for 33% of global fine-art sales at public auctions, followed by 30% in America, 19% in Britain and 5% in France. (Galleries and private dealerships are still in the early stages of development, so most Chinese buyers buy at auctions.) Christie’s says that 13% of buyers at its main autumn auction this year were Asian.

So far, Chinese collectors have mostly bought Chinese art, from jade antiquities to modern daubs. “All cultures start with their own art,” says Patti Wong, the chairman of Sotheby’s Asia. The question is, will Chinese buyers develop a taste for Western art? Some experts are betting they will. In January Gagosian, a contemporary-art gallery, opened its first Asian outpost in Hong Kong. White Cube, a rival, vowed to follow suit next year.

Chinese buyers have snapped up a handful of high-profile Western works this year. The prosperous Picasso fan who paid $21.4m for “Femmes lisant” at Sotheby’s in May is said to be Chinese. In July a buyer from greater China bought a Michelangelo black-chalk drawing at Christie’s for £3.2m ($5m). “They will move into international areas,” predicts Jonathan Stone, the chairman of Asian Art at Christie’s in Hong Kong. Nick Simunovic of Gagosian Gallery in Hong Kong says the gap between Eastern and Western tastes is narrowing.

Others are sceptical. James Lally, a dealer in New York specialising in Chinese art, doubts that Chinese collectors are hungry for Old Masters. “There is no evidence that the Chinese will follow the Japanese and develop a strong interest in Western art,” agrees Colin Sheaf, the Asia chairman of Bonhams, a British auctioneer. Japan opened up to outside influences in the 19th century; China has always considered itself the Middle Kingdom (ie, the centre of the world). Much of Europe’s old art has religious themes that are alien to Chinese culture. An atheist may be unmoved by the crucifixion of St Peter.

Besides, Chinese collectors have plenty of catching up to do at home. Mao Zedong tried to destroy their ancient culture. Now they have a bit of money, many Chinese would like to rediscover it. Raging demand is pushing prices for Chinese art to new highs. In May China Guardian, one of China’s leading auctioneers, sold an ink painting by Qi Baishi, a 20th-century artist, for 425m yuan ($65m).

from the print edition | Business

The new Medicis

Oct 22nd 2011, 08:38

The answer for this title is yes. But the taste for the Orient or the Occident results from both the willingness to pay money and the long-term cultivation on Art for several years.

The coincidence of this article also occurred when the Chinese collectors flavour of whether they either “import” Western style of painting or “export” antique made by ancient or modern Chinese artist was discussed on the last week’s Asian Wall Street Journal in lifestyle column. One of the famous collectors is Yang Bin, the biggest car-seller in Beijing, who mainly focus on Chinese contemporary art. Like Yang Bin, thousands of people involve in each Beijing’s auction, always exciting the luxury market.

More and more Chinese buyers purchase the art made by both Western and Eastern artist as well as from ancient time to the modern present. Their action in world’s top auctions and museum where they are trying to resemble Mr. Longfello, the President of Pearson Education along with a connoisseur of art, and increase their degree of culture. The speed of collecting art is the same as the shopping speed of Becky Brandson, the role introduced by Sophie Kinsella, who always worries about Gucci and Armeni. Of course many business moves to China to expand the territory while exploring Chinese vision.

Recently in the circle of collection, antiquities, calligraphy & paintings, porcelain and jade are indiviually emerging in various way. Yesterday once more, especially jade auction deal in China is now experiencing a renaissance of art just like the surroundings in the 1980’ and 90’s Taiwan with growing finacial ability and the control of world’s jade market. Besides, the calligraphy and paintings also prevail graudally in near 20-year China not only because of the admirable reputation of Chang Da-Qian and Chi Bai-Shi who both lived in Taipei city in their aged life but also the unique calligarphy of then China’s national chairman Jiang Ze-Min.

On the other side, the western art began to be requested after 1989’s Tienanmen Square incident. The western artists and buyer felt curious about China’s contemporary art concerned. Therefore, the interaction of art between China and Europe or the United States are rapidly progressing. For example, Wang Zi-Lie’s paintings “Little Girl Series” are with western style. The other example is one part of “Dictionary”, painted by Liu Dang, which is owned by Yahoo’s co-founder Jerry Yang. As these kinds of art are prevalent in the present China, the western art might be understood by numerous Chinese collectors. Truly, more and more Chinese is trying the flavour of the western art just as they enjoy listening to Jack Johnson’s Pop music. As Japan’s Katsushika Hokusai’s “The Breaking Wave Off Kanagawa” affected impressionism in the late 19th century and stimulated the communication with Japan and Europe, China and the Western now will make a good tie with art. So Chinese can accept the image of the western art.

    Recommended

    10

    Report

    Permalink

筆者以為在中國經濟富裕後，性靈上的追求會開始發展，而不單只有物質文明享受，而且影響力會相互共鳴放大。像義大利當年作為現代文明的搖藍，在商業昌盛同時，也有了繪畫藝術定期活動，凝聚社群共識。筆者聊起John Grisham和Sophie Kinsella兩位筆者在三四年前開始作些閱讀的作者，在此提供給討論區的朋友們，期待中國有出現維持現代高度文明的社會正義律師和高消費的Becky & Luke ，看看會不會帶動世界新一波商業文明。最後列舉現代數名名家畫作，就像日本的浮世繪葛飾北齋的富岳三十六景，成功的融入世界的藝術主流思潮，中國的現代畫匠也能在世界互聯社群中有一番貢獻。