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Two weeks after the news of China’s domination of the global art market, all eyes were focused on the sale of the famous Ullens Collection at Sotheby's in Hong Kong on 3 April 2011.
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[04/12/2011]
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While London’s auctioneers congratulate themselves on the healthy sold rates at their June Contemporary Art sales (92.5% at Sotheby’s, 88% at Christie’s and 75% at Phillips de Pury & Company), bidders are continuing on a path of caution and sobriety.
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[07/06/2009]
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At the end of the first quarter of 2009, the global art market price index showed a 10% contraction. But in New York City, host to some of the world’s most prestigious art sales, the crisis is being felt particularly hard: the same index shows a 35% local contraction since January 2008.
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[05/26/2009]
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The most speculative and volatile markets over the last four years, emerging art markets have propelled a number of Chinese, Indian, Russian and Middle-Eastern contemporary artists into the global limelight with extraordinary speed. But with so many young artists fetching such big figures at auctions, some kind of meltdown was inevitable.
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[02/02/2009]
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Having usurped France’s third place in global art market figures for 2007 (behind the US and the UK) China is consolidating its global presence by hosting art fairs with a genuinely international reach.
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[04/22/2008]
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Shanghai and Beijing are the new centres of attraction: galeries are proliferating there and collectors from the world over are invited to discover in situ the dynamism of the Asian scene, encouraged by the effervescence of Chinese art, whose sale proceeds were multiplied by ten in 2006.
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[09/04/2007]
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Speculation is showing no signs of slowing and auction sales are ever stronger, and prices ever higher. The price appreciation has been staggering for the generation of young Chinese artists and the number of investors continues to grow. It often takes only a few years for a Chinese artist to see a tenfold price increase, as with ZHANG Xiaogang or CAI Guoqiang to cite just a couple of examples. Symbolic of the price increases: the ten most successful auctions of contemporary Chinese art have been recorded over the past twelve months. In the end, in 2006, 31.3% of the Chinese contemporary artworks sold at auction achieved more than $100,000. Given such price levels, the proceeds on Chinese contemporary art sales increased by a factor of ten in 2006.
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[06/01/2007]
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