US EUROPE AFRICA ASIA 中文

    Art market chills in spring

    By Zhang Yuchen ( China Daily ) Updated: 2013-03-29 08:15:55

    Art market chills in spring

    A woman examines a piece at Boundless: Contemporary Art in Hong Kong, Sotheby's first auction of Asian and Western contemporary art in Asia, in December. [Photo/Xinhua]

    Lack of confidence leaves buyers and investors out of the frame, reports Zhang Yuchen in Beijing.

    Art market chills in springSpring has yet to warm the hearts of China's auctioneers. Instead, a chill wind is blowing through the art market. In contrast to recent years, the spring auction season, which began in early February, has been a cause for concern rather than celebration.

    Perhaps the auctioneers aren't generating enough excitement as they stand on the podium, gavel in hand, calling out bids, but something special is needed to encourage buyers to up the ante and part with their cash.

    This year has seen a huge downturn in both the prices paid for individual lots and the art market in general. The trading volume during the 2012 autumn season, which runs from October through December, fell to 29.4 billion yuan ($4.7 million) from 40 billion yuan in the same period the year before.

    The decline in prices and trading volume is symbolized by a true event, recounted by Kou Qin, vice-president of China Guardian Auctions. The story has a humorous ring to it, but it has had a chilling effect on buyers and sellers.

    A client of China Guardians, who had bid 10 million yuan for a valuable bronze pot, arrived at Kou's office the day after the deal had been made. The client, from Shanxi province, bid for the objet d' art along with several other items, backed by a large amount of money loaned by a couple of friends. Sadly, he had overbid massively and had nowhere near enough capital to settle the bill for the 10 million yuan antique. He had hoped to sell the other items quickly and at a markup, to furnish himself with the funds for the pot, while making a tidy profit.

    However, when he arrived at Kou's office, he was forced to admit that he couldn't afford the item and wanted to return it. Having lost most of his initial capital, the man had fallen out with his friends, who had, in turn, extracted a brutal revenge. He lifted his shirt a little to show Kou the marks and wounds left by the severe beating he had endured from his- now furious friends.

    "It sounds quite funny, but it's actually not," said Kou. "It's more like a metaphor for what we've all been through during the last couple of auction seasons."

    When the market seemed prosperous, a large amount of money flooded into the pool, but was withdrawn at the first ominous sign, said Guan Yu, director of Art Market Monitor of Artron.

    In 2011, 26 individual lots attracted bids of 100 million yuan each, which many observers saw as a giant leap that would transform the local art market into one of the world's largest capital arenas. However, their hopes were dashed when only five items hit the 100 million yuan threshold in the whole of 2012.

    Previous Page 1 2 3 Next Page

    Most Popular
    Special
    ...
    ...
    亚洲中文字幕无码专区| 无码任你躁久久久久久久| 日本按摩高潮a级中文片| 亚洲精品~无码抽插| 人妻丰满av无码中文字幕| 91久久精品无码一区二区毛片 | 亚洲2022国产成人精品无码区| 亚洲精品无码午夜福利中文字幕| 精品久久久久久无码中文字幕一区| 国产中文字幕在线| 无码 免费 国产在线观看91| 无码H肉动漫在线观看| 亚洲国产精品无码专区影院 | 日本精品自产拍在线观看中文| 亚洲成?v人片天堂网无码| 国产自无码视频在线观看| 精品无码一区二区三区亚洲桃色| 亚洲午夜无码久久久久| 无码人妻一区二区三区一| 中文在线√天堂| 欧美中文字幕一区二区三区| 亚洲一区无码中文字幕| 中文字幕无码人妻AAA片| 人妻少妇看A偷人无码精品视频 | 精品久久亚洲中文无码| 久久久久久无码国产精品中文字幕 | 亚洲AV日韩AV永久无码久久| 亚洲成AV人在线观看天堂无码| 最近更新免费中文字幕大全| 欧美成人中文字幕在线看| 炫硕日本一区二区三区综合区在线中文字幕 | 岛国无码av不卡一区二区| 久久无码中文字幕东京热| 成人无码A区在线观看视频| 亚洲午夜国产精品无码| 亚洲AV无码一区东京热| 无码囯产精品一区二区免费| 亚洲AV无码一区二区二三区入口| 久久精品国产亚洲AV无码偷窥| AV无码久久久久不卡网站下载 | 色噜噜亚洲精品中文字幕|