InfoAnda - Healthier Chinese art market may emerge from crisis

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

Nike sees profits soar | 23 September 2011
German left hopes to unsettle Merkel in state votes | International | | 30 August 2009
Oprah to star in traveling talk show on own network | 9 April 2010

Pakistan launches campaign to fight corruption | 12 November 2010

">Forum Views () ">Forum Replies ()

Read more with google mobile : Healthier Chinese art market may emerge from crisis

Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Healthier Chinese art market may emerge from crisis AFP - Sunday, January 11 BEIJING (AFP) - - Art markets around the world have taken a hit from the global financial crisis, and, say analysts, it could very well lead to a correction for the star performer: contemporary Chinese art. After a stellar period that began less than a decade ago and made previously unknown artists famous virtually overnight, a less exuberant mood is now spreading -- and, some say, that may actually be good. "Perhaps we will witness a healthy correction," said Berenice Angremy, the director of Thinking Hands, an organisation in Beijing's 798 art district that specialises in cultural events. In Hong Kong, bids at auction houses Christie's and Sotheby's are disappointingly low, while in China galleries close down, leading to the question: Is the bubble about to burst? "The market for contemporary Chinese art has seen unprecedented growth in the past five years -- from three million dollars in 2004 to 194 million dollars in 2007," said Evelyn Liu, a Sotheby's executive. "So it wouldn't be surprising if it started stabilising a bit." In Beijing, Poly Auction has felt the impact of the crisis, too, and has had to adjust its prices accordingly. "On average prices have gone down. But good artists can still get good prices for good works," said Xu Juan, director of Poly Auction's international department. For example, when Xu auctioned off a painting by celebrity artist Zeng Fanzhi in early December, he managed to sell it for 900,000 dollars. But of course, this was not particularly astonishing for an artist whose painting "Mask Series 1996 No. 6" sold for close to 10 million dollars when put on the block by Christie's in Hong Kong in May. It was a record for contemporary Chinese art, and it was almost matched one month later, when a canvas by Liu Xiaodong fetched 7.95 million dollars at Sotheby's in Hong Kong. But, say market insiders, the infatuation with Chinese art led to a large number of artists attempting to establish their commercial value with worn-out imagery from the Cultural Revolution or pop-art motifs that had long since lost their novelty value. "There have been lots of copies, and a sort of avant-garde art that has been outdated in the west for 30 or 40 years," said a Hong Kong-based art agent. "The prices were exaggerated. Young artists, still in school, were selling their paintings for 100,000 dollars," said a gallery manager at 798. "It had lost touch with reality. The crisis will put this straight." The past five or six years marked a regular boom, and it was not always healthy, said Angremy, the director of Thinking Hands. "There have been some true artists, excellent artists, but there has also been a lot of excess and speculation," she said. "More and more people have suspected the artists and their galleries of buying their own art to make sure the prices didn't fall. Even if this practice is not unique to China, it may be more widespread here than elsewhere." Meg Maggio, manager of Beijing Fine Arts in Caochangdi, another Beijing art district, agreed that the crisis could help rid the Chinese art market of some of its less savoury characteristics. "In the end, the Chinese market will do well. It will emerge healthier and more locally focused," she said. "It is to be hoped that in the coming months the salons and galleries will become less commercial, more experimental and, in the final analysis, more exciting for the public and the collectors," she said. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy China vice president urges Macau to diversify: reportsAFP - 1 hour 23 minutes ago Subdued Detroit auto show to focus on going greenAFP - 2 hours 1 minute ago Weak won attracts tourists, keeps Koreans at home: government dataAFP - 2 hours 10 minutes ago Small business woes have big impact on economyAP - 2 hours 13 minutes ago Related Articles: Business Canon had slow holiday sales, sees rough 2009Reuters - 24 minutes ago US-BUSINESS SummaryReuters - 28 minutes ago Rouble to be volatile, rebound in 2009 - Cen BankReuters - 29 minutes ago AirAsia X eyes Japan after Tokyo relaxes tough visa ruleAFP - 32 minutes ago Russia devalues rouble on 1st trading day of 2009Reuters - 35 minutes ago Enlarge Photo Healthier Chinese art market may emerge from crisis Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Is Tintin gay? Cartoon birthday boy dogged by rumours Citigroup: 2-billion-dollar exposure to LyondellBasell Half the planet could be hit by food crisis by 2100: study Marks & Spencer to axe 1,230 jobs and close 27 stores Finance fights sex for Aussie dictionary honour View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

Other News on Sunday, 11 January 2009
Iran disputes report on suicide volunteers
Russia, EU agree plan to resume Europe gas supply
Fans of Mafia supremos get comeuppance on Facebook
Iraqi govt won't forcibly evict Iranians
Obama's team touts stimulus
Three down, one left for Mitsubishi in Dakar
Nine-Year-Old Missing Girl Found By Police Using Google Street View
Peanut Butter Eyed As Nationwide Salmonella Outbreak Culprit
USS George HW Bush Aircraft Carrier Commissioned
Chief of fraud-hit Indian IT firm in prison
Japanese foreign minister visits Thailand for political talks
Indonesia, France disappointed by rebuffal of UN resolution in Gaza: Yudhoyono
Venus leads Americas to victory in Hong Kong team event
China announces aid package to assist poor: state media
China house prices fall for first time since 2005: state media
China denies closing rail industry to foreign manufacturers
3rd Satyam exec detained after fraud scandal
Attorney: 'Idol' star's NC home won't be auctioned
China forecasts 188 million rail passengers over Lunar New Year
Israel and Hamas vow to fight on in Gaza
Russia signs gas deal with EU | International |
Ukraine signs Russian gas transit deal: Ukraine PM
Swiss Army knife meets Bluetooth
Anger at cardinal's likening of Gaza to death camp
Costa Rica digs for quake victims | International |
Irish foe of EU treaty to set up party offshoot in Poland
US-TECH Summary
Israel warns of further escalation as Gaza death toll tops 850
Venezuela's Chavez threatens to expel U.S. diplomat | International |
Yahoo's Web TV faces uphill battle
At least 33 dead as Peru bus dives off mountain road | International |
Obama touts stimulus plan
Europe protests call for halt to Gaza conflict
Israel tells Gazans to brace for war escalation
Yahoo's Web TV faces uphill battle | Technology |
Chavez says US heating oil program never suspended
Obama-stimulus plan can add and save up to 4 million U.S. jobs
Canada to be Obama's 1st foreign trip as president
Thai by-elections to test PM's political strength
Mercury in gold mining: a Third World toxic threat
Sri Lanka says rebel group on brink of defeat
Latin singer Flex leads Romantic evolution | Entertainment |
US-ENTERTAINMENT Summary
Liverpool hands over culture capital title to Austria's Linz
US-ENTERTAINMENT Summary
Latin singer Flex leads "Romantic" evolution
Six soldiers, 40 militants killed in NW Pakistan: official
Israel and Hamas vow to fight on in Gaza | International |
Shortcovers turns iPhones into electronic books
FCC head opposes Obama bid to delay US shift to digital TV
Russia set to resume European gas supplies after deal
ECB under pressure to cut lending rates
Britain's Prince Harry apologises for racist language
Blu-ray DVD booms in aftermath of format war victory
Palm crowns comeback at CES with 'Best in Show' award
Japan PM in Seoul, aims to boost economic ties | International |
Israel pounds Gaza City after warning of escalation
India says not reached end of road on Mumbai attacks | International |
Record tourist numbers as Nepal emerges from civil war | International |
Shortcovers turns iPhones into electronic books
Palm crowns comeback at CES with 'Best in Show' award
Tokyo fish market to re-open to 'ill-mannered' tourists
Pakistan: 6 troops, 40 militants killed in attack
Pakistan extends house arrest of militant leader
Taiwan enforces strict anti-smoking law
US rejected Israel's plea for strike against Iran: report
Thailand holds by-elections in key test for new PM
Four civilians killed in Thai south: police
Japan PM seeks new ties with SKorea by sidestepping tensions
Elvis fever shakes, rattles and rolls Australian town
China to mark defeat of Tibet uprising
Japanese prime minister arrives in Seoul
Venezuela's Chavez investigates US official
US military deaths in Afghanistan region at 561
AirAsia X eyes Japan after Tokyo relaxes tough visa rule
Japan's Sanyo braces for zero profit: report
China vice president urges Macau to diversify: reports
Subdued Detroit auto show to focus on going green
Weak won attracts tourists, keeps Koreans at home: government data
Healthier Chinese art market may emerge from crisis
China's Huawei wins 235-mln-dollar Costa Rica 3G phone deal
Party like it's not 2008: Golden Globes return
French filmmaker Claude Berri hospitalised
Party like it's not 2008: Golden Globes return
Foreign-language Globe contenders meet, greet fans
Screenwriter floors it with 'Gran Torino'
'Slumdog' favorite as Globes launch Oscars countdown
Overwork a silent killer in Japan
Formals, face lifts, free stuff: It's Globes time
Britain's Prince Harry apologises for racist language
Sudan security chief warns foreigners of attacks
Six soldiers, 40 militants killed in NW Pakistan: official
Indonesia ferry carrying 250 people sinks: minister | International |
Saudi reformer freed after 8 months in jail
Sri Lanka army fights to finish off Tamil Tigers | International |
Sudan security chief warns foreigners of attacks | International |
Pakistan: 6 troops, 40 militants killed in attack
More than 260 missing in Indonesian ferry disaster
Ex—triad leader Tan Chor Jin cremated
China shuts 91 sites in porn crackdown: state media
25 injured in Philippine plane accident
Man pours flammable liquid on MP, sets him on fire
Indonesia ferry carrying 250 people sinks
Japan's prime minister visits South Korea
India names new board for fraud-hit Satyam
India names 3 to Satyam board after fraud scandal
Report: Taiwan to cut number of foreign laborers
Some 20,000 Indonesian Muslims urge end to Israeli strikes
Toyota to launch pure electric car in U.S. by 2012
Taliban commander killed in offensive: Australia | International |
Somali Islamists clash as Ethiopians withdraw | International |
Toyota to launch pure electric car in U.S. by 2012 | Technology |
Obama vows to tackle Middle East 'on day one'
Obama vows Mideast peace effort from 'day one'
Dr Yaacob lauds S’pore Muslims’ rational response to Mideast conflict
Thai by-elections test ex-PM's influence
Singapore MP set on fire in attack by 70-yr-old
Crowd tries to attack US Consulate in Pakistan
Sri Lanka's military: Soldiers seize rebel camps
Some recent maritime disasters off Indonesia
China seizes man suspected of killing 8 people
Obama Family Makes Surprise Visit To Lincoln Memorial
Tweaked American Idol returns with new judge | Entertainment |
Storm sinks Indonesian ferry, 250 feared dead
Storm sinks Indonesian ferry with 250 passengers
Tweaked "American Idol" returns with new judge
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