Set a new record for Chinese painting
ARTinvestment.RU   25 мая 2011

May 23 in Beijing, the picture of the great Chinese painter Qi Baixa (Qi Baishi, 1864-1957) was sold for 425.5 million yuan (65 million dollars)

Chi Baixo
Long Life, Quiet World (eagle on a pine tree). 1946
Source: artinfo.com

Another sensational deal in the Chinese art market: May 23 in Beijing at the China Guardian Auctions auction picture of the great Chinese painter Qi Baixa (Qi Baishi, 1864-1957) was sold for 425.5 million yuan ($ 65 million) and became the most expensive piece of Chinese painting.

Work "Long Life, Quiet World" ("An eagle on a pine tree"), Chi Baixo wrote in 1946 for the Chinese leader Chiang Kai-shek. They say there is another version of this movie, written by a forward-Chi Baixo four years later for the sworn enemy of Chiang Kai-shek - Mao Zedong.

In recent years the cost of the works of Chinese masters like Qi Baixo (Qi Baishi), Beyhun Xu (Xu Beihong), Datsyan, Zhang (Zhang Daqian) and Fu Baoshi (Fu Baoshi), increasing c at great speed. These four artists who glorified the style of traditional Chinese painting Guohua (ink and water color on silk or paper), in 2010 were in the top Artprice Top-10 international artists on the auction revenue . The proceeds from the sale of works of Qi Baixo was even greater than from the works of Andy Warhol (339.2 million dollars against Chinese master 313.5 million king of pop art). Ahead was a Pablo Picasso Auction turnover 361.5 million. Let's see what the results of this year. So far, estimated Artinfo, at the May auction of modern art works Christie's , Sotheby's and Phillips de Pury deals with the work of Warhol is committed for a total of 168.76 million dollars .

The previous record for Chinese painting belonged to Xu Beyhunu: for his work " People collect water Ba "(1937) at auction Beijing Hanhai Art Auction last year paid 171 million yuan (25.8 million dollars).

« Long Life "Qi Baixo was not only the most expensive piece of Chinese painting, but also ranked third in the list of the most expensive works of Chinese art in the world. In the first place in the ranking - porcelain vase period of Emperor Qianlong, was sold at London auction Bainbridges for 85.9 million dollars last November. And in second place the roll of XI century calligrapher and poet of the empire Sung Huang Tintszyanya (Huang Tingjian), gone under the hammer at the Beijing Poly Auctions bids for 436.8 million yuan (64 million dollars).

paintings Chi Baixo became the main event of the spring season trades China Guardian - the oldest auction house in China. Organizers hope to return to its former trading advantage over its main rival - Poly Auctions. Through these two auction houses held the bulk of transactions in China: last year's Poly sold works of art at 9.15 billion yuan (1.5 billion dollars), as a result of Guardian was 7.55 billion yuan (1.1 billion dollars). For comparison: in the same period offices Christie's and Sotheby's in Hong Kong have sold works of art at 721.9 and 685.1 million dollars respectively.

Growth , continues. Increases not only the quantity and value of transactions in the Middle Kingdom, but also income from the sale of Chinese art abroad. Estimated to Bloomberg, antiques market in London alone over the last month rose by 180 percent - largely due to sales of works of Chinese art.

If it goes on, then at Western auctions Asian IPB has every chance to press the third place on the profitability of the Old Masters, says Bloomberg reporter Scott Reyburn (first and second place in the list are the market of Impressionist and Modern and Contemporary art market). While the customer base of the Old Masters market almost does not increase, the new Asian millionaires, and, therefore, buyers of Asian art is becoming more and more. Record follows a record, and it seems like it would never end.

Would not it be? An interesting suggestion made Mansharamani Vikram (Vikram Mansharamani), wrote the book "Puzyrelogiya: how to see the financial bubble before it bursts." At this author refers to Derek Thompson (Derek Thompson) in an article in The Atlantic . So, according to the "puzyreloga" Mansharamani, periods of record high interest rates on auctions are frightening harbingers of financial bubbles, it is "a symptom of excessive confidence and arrogance" with which the new rich spend their money.

eve explosion of the U.S. financial bubble art market of this country, too, bloomed to full flower: in 2006, were entered into the largest known private deals with works of art: "Portrait of Adele Bloch-Bauer I» (1907) was purchased magnate Ronald Lauder for $ 135 million, and six months later, this record has beaten a private transaction with the work of Jackson Pollock at $ 160 million. In general, this year for the art market has been extremely successful.

But it was also the end of the era. Loud auction sale on the eve of the explosion bubble, and it is no coincidence, says Mansharamani. Watching auction records, and the stock market auction houses - is one of the best ways to predict the economic crisis.

As an example, the author of "Puzyrelogii" leads the stock Sotheby's. Over the past 20 years, shares the auction house survived four sharp jump upward. In the late 1980's, Japan was a major player in the world art market, but the Japanese financial bubble burst and stocks Sotheby's said the rapid depreciation. 10 years later, the stock price jump occurred just before the bursting of the "dotcom bubble" associated with the rise and fall of Internet stock. The third time the shares soared on the eve of the global financial crisis. Further proposed to make conclusions for yourself. Now, for example, shares of Sotheby's somehow bad . It is proposed to regard as a good sign?

material was prepared by Maria Onuchina, AI

Sources : artinfo.com , bloomberg.com , theatlantic.com



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