Friday, 20 December 2013

More on the Chinese Art market

China's art market suffered a much-steeper decline last year than industry experts previously suggested,  according to a report published Wednesday by a pair of auction watchdogs (Kelly Crow, "China art market declines more than suggested" Market Watch Dec. 18, 2013).
Details about the sales performance of China's auction houses have been difficult to glean since the country's art market started to boom five years ago. [...] Now, amid growing scrutiny of China's art-selling practices, researchers are poring over sales data anew and presenting a fuller -and darker-portrait of the Chinese market than the auction houses had painted. 
Among other information contained in the article is that there are at least 355 auction houses in  mainland China and that buying habits are somewhat different from the west, Chinese paintings and calligraphy were in greater demand among bidders within China, whereas Chinese jades and porcelain proved more popular among collectors elsewhere. The article also mentions growing concerns about non-payment by winning bidders as well as fake and misidentified items on the Chinese market.

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