InfoAnda - Financial crisis puts chill in Asian art

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

S. Korea June start-up/failure ratio at record high | 19 July 2009
Tunisian leader bows to unrest, sets departure date | | 14 January 2011
Al-Shabaab releases aid workers in Hiran region after overnight detention | 17 August 2011

S.Korea bonds fall on U.S. lead, strong shares | 16 December 2009

Forum Views () Forum Replies ()

Read more with google mobile : Financial crisis puts chill in Asian art | Entertainment |

My Profile Postcards to the President Messages from citizens around the world Watch Now You are here: Home > News > Entertainment > Article Home Business & Finance News U.S. Politics International Technology Entertainment Film Music People Television Arts Industry Sports Lifestyle Oddly Enough Environment Health Science Special Coverage Video Pictures You Witness The Great Debate Blogs Reader Feedback Do More With Reuters RSS Widgets Mobile Podcasts Newsletters You Witness News Make Reuters My Homepage Partner Services CareerBuilder Affiliate Network Professional Products Support (Customer Zone) Reuters Media Financial Products About Thomson Reuters Financial crisis puts chill in Asian art Thu Nov 6, 2008 7:27pm EST Email | Print | Share | Reprints | Single Page [-] Text [+] By James Pomfret HONG KONG (Reuters) - Down a quiet Hong Kong lane beside the century-old masonry of a colonial-era prison, the 10 Chancery Lane Gallery is abuzz as staff hang bright, bold canvasses and hand-painted photos by three female Indian artists. The past few years have been golden for hundreds of such modish art galleries and antiques dealers dotted about Hong Kong island's jumbled streets, swept along by the Asian art craze and its hip allure with buyers in the region and beyond. Glitzy art fairs sprang up across Asia, from Shanghai to Tokyo, while records tumbled for contemporary artists such as India's Subodh Gupta, China's Zeng Fanzhi and Indonesia's I Nyoman Masriadi. But now with the financial gloom, many galleries are bracing for a painful slump as the disposable income of the city's bankers, businessmen and middle-class professionals shrink. "We haven't seen any downturn in our business but we are seeing it in the auctions, and we expect it to happen," said Katie de Tilly, the owner of the 10 Chancery Lane gallery which will halve its number of shows this year given the bleak outlook. "If you are investing in art, have your eyes open, very open right now because I can see things coming down in a big way." CRACKS While some galleries with their patient stabling of loyal artists and diversified client base have yet to be badly burned, the high-profile art auction market is showing serious strain for both Western and Asian art. Sotheby's auction of Impressionist and modern art in New York earlier this week fell far short of the $338 million to $475 million that had been expected, as buyers swooped for rare masterpieces but stayed away from lesser works that were generally seen as unrealistically overpriced. At Sotheby's autumn Asian sales in Hong Kong, seen as a key biannual barometer of market sentiment, the firm only managed to hammer off around half its expected total, with auction rooms stricken by large numbers of unsold lots. Sotheby's weak showing seemed to mark a symbolic turning point for the seemingly unstoppable Chinese art market, which has skyrocketed these past four years, particularly the works of star artists such as Zhang Xiaogang, Yue Minjun and Cai Guoqiang. Some experts say the less established reputations of Asian artists versus timeworn western masters make major record-breaking results unlikely at the current time, but their much cheaper valuations make such artists attractive for buyers seeking long run returns. Chinese art website Artron.net showed a 14 percent fall in its Chinese contemporary art index this autumn compared with the spring, while its benchmark index of 400 top Chinese artists showed a 28 percent decline for the same period. Much attention is now focused on the next major auction of Asian art by Christie's in late November, with the auction house moderating its usual bullish optimism with a more prudent line. "It's a volatile period, pricing is going to fluctuate and we really need to be careful about estimates," said Andy Foster, Christie's Asia President. Continued... View article on single page Share: Del.icio.us Digg Mixx My Web Facebook LinkedIn Next Article: Sony Ericsson Unveils New Music Phone; Wi-Fi Plays Central Role In Content Delivery Also on Reuters Measuring extinction, species by species Slideshow Thousands of civilians flee fighting in Congo Obama's tone welcome in Mideast, change needs time Editor's Choice Pictures Video Articles Slideshow A selection of our best photos from the past 24 hours. Slideshow Palin's future Congo crisis Big winners Top News: Media bias largely unseen in election Technology: 3D gives taste of life, combat in Rome Lifestyle: How about a $1 million Bangkok meal? Most Popular on Reuters Articles Video Recommended Obama to meet with economic team | Video Democrats gain sixth new Senate seat What happens to Sarah Palin now? | Video U.S. carmakers may not be able to wait for Obama Obama to hold first news conference on Friday Europe cuts rates as Obama to address global crisis | Video UPDATE 3-Craigslist agrees to crack down on erotic ads Victim drives sleeping rapist to police station World leaders' quotes on Obama election win Top House Republican Blunt leaving leadership Most Popular Articles RSS Feed Video Sarah Palin's future Latin America reacts to Obama From victory to reality Crichton dies at 66 Obama's promise Postcard to U.S. President: Tehran Dawn of a post-racial era? Obama makes key appointment Pelosi: great expectations for Obama Obama, Biden take the stage Most Popular Videos RSS Feed Reuters Deals The global destination for corporate leaders, deal-makers and innovators Knowledge to Act Reuters.com: Help and Contact Us | Advertise With Us | Mobile | Newsletters | RSS | Interactive TV | Labs | Reuters in Second Life | Archive | Site Index | Video Index Thomson Reuters Corporate: Copyright | Disclaimer | Privacy | Professional Products | Professional Products Support | About Thomson Reuters | Careers International Editions: Africa | Arabic | Argentina | Brazil | Canada | China | France | Germany | India | Italy | Japan | Latin America | Mexico | Russia | Spain | United Kingdom | United States Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Thursday, 6 November 2008
U.N. says east Congo rebels seizing more territory | International |
Obama sets about choosing his team
Israel cautions against Obama dialogue with Iran | International |
Japanese researchers make brain tissues from stem cells
British PM faces election test in Scotland | International |
Bhutan's turn to celebrate with crowning of young king
Somalis happy at Obama win, no word on foreign hostages | International |
Taiwan president in historic meeting with Chinese envoy
Rice plays down chances of Israeli-Palestinian deal | International |
Morales says US anti-drug DEA killed Bolivian farmers
Agricultural Bank of China receives 19-billion-dollar bailout
China's leading oil producers start cutting prices: report
Peeks at ailing Kim reveal black hole on North Korea | International |
Stocks slide, Toyota warns of 'unprecedented' crisis
Osama bin Laden's son fights for asylum in Spain | International |
Korea Zinc says no plan to cut zinc output
PMs from SE Asia's Mekong countries to meet in Vietnam
U.S. accepts some amendments to troops pact: Iraq | International |
SKorea arrests 5 Pakistanis in alleged scam
Pity the Bluetooth headset this holiday season | Technology |
China flexes military hardware muscle
Fans get control of virtual wrestling action | Technology |
Toyota halves profit forecast due to 'unprecedented' crisis
Newspapers grabbed up after Obama's historic win | Technology |
AMD lays off 500 people worldwide | Technology |
Ten killed, 45 injured in Pakistan blast
Two suicide attacks in NW Pakistan kill 19
Iran president urges Obama to change U.S. policies | International |
Two suicide attacks in NW Pakistan kill 19
Nine dead in suspected suicide blast in Russia
Senior Iraqi backs Obama withdrawal plan | International |
Two suicide attacks in NW Pakistan kill 19
Blasts in Baghdad kill 6, wound more than 20
World stocks plunge as recession fears bite
Bolivia says to fund drug war after dispute with U.S. | International |
Israeli FM: US dialogue with Iran could be problem
IMF sees recession in advanced economies in 2009
Bush administration wants arms talks with Russia | International |
Eight dead, 45 injured in NW Pakistan blast: officials
Syria says Fatah al-Islam group behind bombing | International |
Mideast peace deal unlikely by year's end: White House
Paloma strengthens into hurricane in Caribbean | International |
Eleven dead in southern Russia blast: report
Tendulkar boosts India with 40th Test ton
U.S. says no aid for Colombia army units in scandal | International |
Toyota halves profit forecast due to 'unprecedented' crisis
Mexico probes flight data from minister's crash | International |
ECB cuts main lending rate to 3.25%
Rice: Mideast peace by year-end no longer possible
Greece a prison for migrants amid EU policy mess | International |
Myanmar rejects Bangladesh call for oil probe halt
Bank of England cuts UK interest rates to 3%
Iran's Ahmadinejad congratulates Obama
China urges Obama to respect free trade, defends currency policy
US responds to Iraqi proposals on American troops
Minister says Indonesia to cut fuel prices in Dec
3D gives taste of life and combat in ancient Rome | Technology |
Pakistani forex reserves fall $160 mln to $6.76 bln
Apple, RIM win smartphone market share from Nokia | Technology |
China stops production at drug company
China's Hu going to US but Obama meeting unclear
David Archuleta set to move beyond Idol | Entertainment |
Paul McCartney steals show at MTV Europe awards | Entertainment |
Hollywood spotlights environment | Entertainment |
Comics weigh prospects in age of Obama | Entertainment |
Madagascar top destination for moviegoers | Entertainment |
Living in the wild takes toll on TV's Survivorman | Entertainment |
Will.i.Am goes from hip to hippo for Madagascar | Entertainment |
Sundance/NHK unveil finalists for filmmaker prize | Entertainment |
T.I. vs. T.I. atop singles chart | Entertainment |
Financial crisis puts chill in Asian art | Entertainment |
Death toll in NW Pakistan suicide attack rises to 22: officials
Tokyo stages anti-terror exercise in Olympic bid | International |
Facebook chief focused on growth not cash
China envoy ends historic Taiwan visit amid violent protests
Iran leader offers Obama landmark congratulations
Obama, McCain campaign computers hacked: Newsweek
Rich nations should ditch 'unsustainable' lifestyles: China's Wen
Senior Iraqi backs Obama withdrawal plan | International |
Israeli army invesigating alleged prisoner abuse
Obama website change.gov goes online
China envoy leaves after landmark Taiwan trip | International |
Nairobi summit bids to rekindle Congo dialogue
Apple faces more pressure over iPod exclusivity in Norway
Obama to brief press as transition of power picks up
Myanmar cyclone survivors stuck in makeshift homes | International |
Recession fears stalk world markets
More than 60 Taiwanese police injured in anti-China protests
Struggling US automakers ask Washington for more help
Storm Paloma strengthens into hurricane: US monitor
McCartney hails Obama at MTV Europe Music Awards
Microsoft CEO pours cold water on Yahoo interest | Technology |
IMF approves 12.3 bln euro loan for crisis-hit Hungary
MySpace could develop a digital music player: CEO | Technology |
China wants rich countries to transfer technology
US encouraged drug trafficking: Bolivian president
Japan Airlines' quarterly profit rises
Worldwide well-wishers post pleas for Obama
FCC head, Google co-founder see cheaper Internet | Technology |
Pakistani c.bank to sell T-bills in 1-day repo
US clamps down on Iran
S.Korea treasury bond futures tumble
Obama website change.gov goes online
Rice wants Mideast work to go on though no deal near
SKorea cuts key interest rate, warns of slowing growth
NZ dollar lower on risk aversion; bonds firm
HIGHLIGHTS-S.Korea cuts rates again to protect economy
HBO acquires rights to Obama documentary | Entertainment |
Global slowdown hits trade at China export fair: report
South Korean won extends gains against dollar
Paul McCartney steals show at MTV Europe awards | Entertainment |
Recession fears stalk world markets
Actor Ashton Kutcher's cartoon gossip show heading for MySpace
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01