ART

The market for art in China has grown tremendously over the past few years thanks to the economic growth in China who created a group of wealthy Chinese collectors with expendable income.  China has been named: ‘the world’s largest art marketplace’.

More and more Chinese wealthy moved from collecting the traditional confines of Chinese ceramics and paintings to Western art. “It seems the Chinese want to be part of the global elite – the people who want an apartment in Battersea Power Station, wine from a vineyard in Burgundy or paintings from a dealer in London. It’s more that, rather than a genuine love of Old Masters” (note: Melanie Gerlis, art market editor of the Art Newspaper). Chinese rich people are searching for different ways to express their wealth and sophistication, next to their yachts, watches and luxury houses. Possessing art is one of the ways.

Interest in Western art is growing in China. It is predicted that in the coming decade or less, the Chinese will surpass the Americans as the biggest clients in the Western art market. According to Sotheby’s the number of mainland Chinese bidding for non-Chinese works in its auctions has risen by 54% since 2010.

Real estate company Wanda Group acquired Picasso’s Claude et Paloma for US$28.2 million at a Christie’s auction in New York in 2013. Film mogul Wang Zhongjun bought Vincent Van Gogh’s Still Life, Vase with Daisies and Poppies for US$61.8 million at a Sotheby’s New York sale in 2014. 

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ART

The market for art in China has grown tremendously over the past few years thanks to the economic growth in China who created a group of wealthy Chinese collectors with expendable income.  China has been named: ‘the world’s largest art marketplace’.

More and more Chinese wealthy moved from collecting the traditional confines of Chinese ceramics and paintings to Western art. “It seems the Chinese want to be part of the global elite – the people who want an apartment in Battersea Power Station, wine from a vineyard in Burgundy or paintings from a dealer in London. It’s more that, rather than a genuine love of Old Masters” (note: Melanie Gerlis, art market editor of the Art Newspaper). Chinese rich people are searching for different ways to express their wealth and sophistication, next to their yachts, watches and luxury houses. Possessing art is one of the ways.

Interest in Western art is growing in China. It is predicted that in the coming decade or less, the Chinese will surpass the Americans as the biggest clients in the Western art market. According to Sotheby’s the number of mainland Chinese bidding for non-Chinese works in its auctions has risen by 54% since 2010.

Real estate company Wanda Group acquired Picasso’s Claude et Paloma for US$28.2 million at a Christie’s auction in New York in 2013. Film mogul Wang Zhongjun bought Vincent Van Gogh’s Still Life, Vase with Daisies and Poppies for US$61.8 million at a Sotheby’s New York sale in 2014.

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