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Guo Rui

China’s slowing growth and its trade war with the United States have taken the air out of its bubbling art market but the slowdown would be beneficial in the long run, according to an artist in Beijing for the annual gathering of the country’s top advisory body.
On Wednesday on the sidelines of the Chinese People’s Political Consultative Conference, painter and CPPCC member Chen Xiao said that economic uncertainty had affected buyers’ sentiment but had also taken many speculators out of the market.
He said that at the market’s peak, a contemporary work could fetch as much as 50 million yuan (US$7.45 million) in China.
“The art market bubbles have burst and more collectors have taken a wait-and-see attitude [on buying],” said Chen, who is based in the coastal province of Zhejiang.
Song dynasty painting fails to break Chinese record as Asian art market cools
“When the market was at its height, many artists went crazy dreaming of making a lot of money.
“Now the prices have gone down and this is good because more people can afford to buy.”
Liu Lang, a Beijing-based painter, agreed that the slowing economy and the trade war were partly to blame for a more subdued art market.
“The economy has slowed and this has dampened the market. Collectors are now more cautious in what they buy,” Liu said.
“If the trade war continues, the art market will definitely get worse.”

Chinese art website Artron estimated that sales of contemporary artworks and antiques at auctions in China fell by 12.4 per cent to 56.32 billion yuan in 2018, with sales of painting and calligraphy down by almost half.
Work by Chinese ink master sells for record US$50 million as good times roll in world’s biggest art market
While the boom propelled many little-known Chinese artists into the limelight, one up-and-coming artist said the downturn could be a break for some of those still waiting to make their name.
“There are fewer buyers who are interested in the famous artists because of the high prices, so younger artists have more opportunities now,” said Ye Haiyan, who is based in Songzhuang, an artist village on the outskirts of Beijing.
But Wang Feiyue, director of the Yue Art Gallery in Beijing’s 798 Art District, said the art market in China had not matured and was vulnerable to manipulation by speculators.
“Art is not a commodity – it doesn’t follow the rules of the economy,” Wang said.


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Trade war with the United States takes air out of Chinese art market bubble in the short term, say artists

The trade war took its toll on the Chinese art market last year, insiders say. Photo: Ink Asia

(180502) -- HANGZHOU, May 2, 2018 (Xinhua) -- A woman visits an exhibition of Shizhuzhai woodblock at the provincial art museum in Hangzhou, east China's Zhejiang Province, May 2, 2018. Over 100 pieces of woodblock printing works were displayed at the exhibition. (Xinhua/Xu Yu) (lb)

Chinese art market boom

China’s copy capital goes original

Artists at Dafen are increasingly catering to local tastes.

Van Gogh replicas are still popular, both among Chinese and overseas buyers.

Hong Suliang used to paint replica Monets or Picassos, but now he specializes in Chinese imagery of peonies, roosters and peacocks.

Apart from the giant sculpture of a paintbrush, from the outside Dafen looks no different from any other Chinese residential community.

China rises to No. 2 art market as billionaires more than double in 2017, closely watched report says

An employee poses with Leonardo da Vinci's Salvator Mundi on display at Christie's auction rooms in London. The rare painting of Christ sold for a record US$450 million last year. Photo: AP

Exteriors of H Queen's building at 80 Queen's Road Central, Central. 20SEP17 SCMP / David Wong [FEATURES ARTS]

Clare McAndrew, art economist [FEATURES]

(ATNXPAINTING) Paintings by Qi Baishi was auctioned for over 9 billion Yuan and became the most expensive Chinese art auctioned ever. Photo: CNA

Chinese art market has its mojo back, China Guardian Beijing’s spring auctions show

It’s like 2011, says auctioneer, as Huang Binhong’s 1955 ink work Yellow Mountain takes 35 minutes of bidding to sell for almost HK$400 million

Guo Tong, Vice President of Chinese Paintings Department at China Guardian, photographed with catalogue from this year's spring auction in Beijing, the painting " Yellow Mountain (1955)" by Huang Binhong was sold for 345 million yuan, including fees on June 19,2017. It set a new auction record for the late Chinese ink artist. pictured at China Guardian (HK) Auctions Co., Ltd. in Sheung Wan. 06JUL17 SCMP / May Tse [POST MAGAZINE COLLECTOR]

This handout image shows Zhang Daqian (Chang Dai-chien, 1899-1983) Peach Blossom Spring. [16JULY2017 THE COLLECTOR POST MAGAZINE]

The China Guardian Beijing auction hall after Huang’s Yellow Mountain was sold. Picture: China Guardian

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But fleeing speculators could leave room for other buyers to collect at affordable prices, insiders say


But fleeing speculators could leave room for other buyers to collect at affordable prices, insiders say.
