Autumn auctions exceed expectation
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Huachen's autumn auction will be held next Friday, with its photography section reappearing after an absence during their spring auction, widely considered as a result of the economic recession.
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Qing Dynasty vase. [Global Times] |
Altogether 176 pieces of photography will go under the hammer, with prices expected to amount to 5.32 million yuan (US$780,469), relatively high in the photography world, according to Li Xin, director of Huachen's Photography Department.
Another highlight of this year's autumn auctions is expected to be modern paintings with subjects on New China.
China Guardian, Beijing Poly and Shanghai Duoyunxuan Auction House all have the genre well represented. The wide range of works include Wu Guanzhong's "Scenery of the North," "Chairman Mao in Steel Plant" by Jin Shangyi and ink painting "Chinese People Have Stood Up" by Jiang Zhaohe.
Despite of the confidence in many sectors, experts are not so optimistic toward Chinese contemporary art.
Hua explained that after the recent hard times, the Chinese art market will be calmer than before, with collectors seeking sound investments rather than chasing unknown talent.
"Collectors like me will be more cautious when buying new works and classic pieces with potential for steady price increases will be among the most chased," he added.
"What we will focus on in this year's autumn auction is old works," agreed Meng Luxin, project manager of the Oil Painting Department of China Guardian, adding that this year's Guardian autumn auction would not include a Chinese contemporary art section.
"The bubble of the Chinese contemporary art market needs time to burst," Meng added. "At least up until now there are few clear clues indicating contemporary art's recovery."
Li Jianguang, collector and owner of several galleries in Beijing, also expressed conservative speculations on the contemporary art market. "For the recovery of contemporary art, I think at least another year is needed."
"At least, buyers will be more cautious when buying contemporary work, as they have witnessed wild fluctuations during the past years," Li added.
