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Antique sales prey on passion

(China Daily)
Updated: 2009-02-23 07:33

Two Chinese antiques, bronze statues of a rat head and a rabbit head, will be auctioned by Christie's on Wednesday. A commentary on www.chinanews.com argues that international antique speculators are using the patriotic passion of Chinese buyers to force up prices of such items. Following is an excerpt:

Since 2000, the purchase price of Chinese antiques has rocketed, because some newly rich Chinese, fueled by patriotic fervor, have paid sky-high prices in order to bring some antiques home.

When the bronze statues are auctioned on Wednesday, it is feared that the same passion could be used to lure rich Chinese buyers to pay exorbitant prices.

Though the patriotism should be praised, paying excessive prices well beyond the true value is not a rational option. Taking advantage of this passion, someone even smuggled Chinese antiques abroad and then sold them back to China at a much higher price. We should not be manipulated by the trick of the speculators.

(China Daily 02/23/2009 page4)