An Introduction to the Growth Factors of the Chinese Art Market
ISP Chapter
Chiu Yau Wai
The Chinese possess the longest continuous cultural history of any of the peoples of the world (Sickman. L, 1968). In recent years, pushed by the huge economic growth in Asia, the fine art market rise sharply within Asia, especially China, changed the geographical structure of the global art market. The Chinese government set up some preferential policies to promote the fine art market because they see the great economic potential in this flied. In 2011, China has a 49% growth of artworks in auction revenue, becoming the first global marketplace for the sale of art. Although the transaction volume of China (10.8%) was behind USA and France, the auction revenue (41.4%) was the first of the world (Artprice, Trend of art market 2011)
. This means China is becoming the central of high price fine art market. In 2011, a painting with calligraphy which was painted by Qi Baishi, ”Eagle Standing on Pine Tree; Four-Character Couplet…” was sold for 4.255 Yuan(about 65 million US dollars) in Beijing by China Guardian auction company, a record high for contemporary and modern Chinese paintings and calligraphy(China Guardian Auctions).
As Chinese fine art market growing quickly in last few years, more and more researches and studies have been done by both Chinese and other foreign people, this essay will focus on some factors behind the market and analysis how the factors influence the Chinese fine art market. And the analysis can be dividing into four sections, cultures, history events and policies, buyers and marketing channels.
First of all, this essay is going to find out the difference between the western countries people and the Chinese people in culture of collecting aspect and work of art aspect. There is some strong culture which is really to be changed in any country and this will completely change the way people treat art works in a country. Just because people treat art works differently, every country’s fine art market
Chiu Yau Wai
The Chinese possess the longest continuous cultural history of any of the peoples of the world (Sickman. L, 1968). In recent years, pushed by the huge economic growth in Asia, the fine art market rise sharply within Asia, especially China, changed the geographical structure of the global art market. The Chinese government set up some preferential policies to promote the fine art market because they see the great economic potential in this flied. In 2011, China has a 49% growth of artworks in auction revenue, becoming the first global marketplace for the sale of art. Although the transaction volume of China (10.8%) was behind USA and France, the auction revenue (41.4%) was the first of the world (Artprice, Trend of art market 2011)
. This means China is becoming the central of high price fine art market. In 2011, a painting with calligraphy which was painted by Qi Baishi, ”Eagle Standing on Pine Tree; Four-Character Couplet…” was sold for 4.255 Yuan(about 65 million US dollars) in Beijing by China Guardian auction company, a record high for contemporary and modern Chinese paintings and calligraphy(China Guardian Auctions).
As Chinese fine art market growing quickly in last few years, more and more researches and studies have been done by both Chinese and other foreign people, this essay will focus on some factors behind the market and analysis how the factors influence the Chinese fine art market. And the analysis can be dividing into four sections, cultures, history events and policies, buyers and marketing channels.
First of all, this essay is going to find out the difference between the western countries people and the Chinese people in culture of collecting aspect and work of art aspect. There is some strong culture which is really to be changed in any country and this will completely change the way people treat art works in a country. Just because people treat art works differently, every country’s fine art market
Bibliography: Sickman, L (1968) The Art and Architecture of China, Yale University Press, London Wang, A (2012) Chinese Antiquities, an introduction to the art market, Lund Humphries, Surrey.