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Buying souvenirs is risky business, warn collectors

By Wang Zhenghua (China Daily)
Updated: 2009-08-21 14:39

The first batch of 2010 Expo gold bars sell out within a month of their release. [Asianewsphoto]

Shanghai Expo-themed collections will sell like hot cakes among impassioned Chinese collectors but this does not make them a safe bet for investors, pundits warn.

The first gold models of the China Pavilion were unveiled earlier this month and will be sent to over 250 expo-licensed stores in China already authorized by the Shanghai World Expo Coordination Bureau.

Organizers hope they follow in the disappearing footsteps of the maiden batch of 10,000 Shanghai Expo gold bars, which ran dry within a month of their release last December. Chinese buyers have also been quick to gobble up the 24,000 silver bars that were placed on souvenir shelves in June.

With officials hungry to claw back some of the millions ploughed into the expo, the most expensive Shanghai World Expo 2010 souvenir now comes with a price tag of 58,800 yuan ($8,600), making it the reserve of China's mega-rich, mega-patriotic or megalomaniacal.

Yet despite the initial fervor, veteran collectors are quick to caution that expo memorabilia may prove to be a dangerous investment. To support their claim they point to the slumping prices encountered by Olympic memorabilia in the wake of last year's Beijing Games.

"We will probably see the same thing happen again," said Wu Shaohua, president of the Shanghai Collectors Association. "Expo collections will devalue soon after the event."

Running from May 1 to Oct 31, the 2010 Shanghai Expo is an idea with a pedigree that dates back to the 19th century. Cities like Paris and New York also used their respective expos to highlight their claims to trend-setting modernity and distinctive cosmopolitanism.

But with its wealth of coins, badges and other items, Chinese are viewing the event as a golden investment opportunity, said Peng Rongqian, a member of the Shanghai Collectors Association.

Gold models of the China Pavilion are unveiled as Shanghai Expo souvenirs this month. [Courtesy photo]

One private collector from Wuhan, Hubei province forked out 28,000 yuan last month on four gold and silver bars based on the logic that, in the 160-year history of the expo, this is the first time such souvenir bars have been issued.

According to the Beijing Daily, over 200 gold models of the China Pavilion were ordered on the first day of sales at one shop in the capital's downtown area.

Produced by Beijing Yuanlong Yato Culture Communications Co, the models are targeting high-end consumers. The 50g model is limited to 10,000 editions and will cost 19,800 yuan ($2,895) apiece, while the 100g model will cost 39,800 yuan (5,000 editions) and the 150g version (2,010 editions) will set buyers back a whopping 58,800 yuan.

All are to-scale miniatures of China's national pavilion, nicknamed the Oriental Crown. The original features traditional Chinese wooden structures as its core architectural element. Twenty artists were involved in designing the models to give them an unusually high art value.

Related readings:  China's famous Forbidden City to open new souvenirs center  'Don't bank on Olympic souvenirs'  Games souvenirs will go on sale next month  China Guardian to auction Olympic souvenirs during Olympic Expo

"So far the expo has received a very warm welcome so we are trying to produce exquisite artifacts," said chief designer Xu Ming. "By taking advantage of the pavilion's theme of the material and spiritual wealth of China and its people, the models have an auspicious meaning of peace and wealth."

But analysts remain skeptical as to whether the costly collections can translate into real gains.

"The room for these souvenirs to appreciate is limited," said Wang Zhenbing, a member of the Putuo Collectors Association.

This is especially true if supply begins to outstrip demand, he added.

"Due to patent concerns, the government and expo organizers are restricting the sale of souvenirs to licensed stores, but there are still (exceptions to be found) in the market," he said. "If too many souvenirs like gold or silver coins come out with less cultural value, it is bad news for collectors."

The Beijing Olympics are a case in point, with groups of Olympic-themed coins made of valuable metals slumping from 9,000 to 8,000 yuan in the span of a year.

"It's hard to tell the true cultural value of these Shanghai Expo souvenirs right now," said Wu of the Shanghai Collectors Association, adding that more time was needed.

On the plus side, he said, "they are created by talented individuals rather than by machines." On the down side, the cultural value of most collections "is currently overstated in the market."

Li Zhuoqing contributed to the story