Artistic Bubble: How Can You Get a Good Word?

Zhang Daqian's works "Love Lake"

Looking back at this year's art auction market, the first impression is still "expensive." For the trend of the next year, some market participants predict that after the country has introduced a series of control policies, if inflation can be suppressed, then the sky-high prices will continue to appear, but the overall trend will be stable and there will be no "spilling" phenomenon. It is the same as this year.

The words “100 million yuan”, “high innovation”, and “100% turnover rate” have become popular terms in the art market in 2010. Compared with last year’s buzz, this year’s market was unbeatable. This year's sky prices almost every day. This year's unprecedented deal was used as evidence: China's Guardian received RMB 4.133 billion, 3 works exceeded RMB 100 million, 52 items had tens of millions; Beijing Poly managed to collect RMB 5.82 billion, and 2 items exceeded RMB 100 million. Up to 99 pieces; when Qiu Qiu made a turnover of nearly 1.1 billion yuan, 21 items were over 10 million...

Keywords: new record

Looking back at this year's art auction market, the first impression is still "expensive." Since the appearance of billions of dollars in auctions last autumn, people have been clamoring that "the Chinese art market has entered the era of '100 million yuan." Until this year, the advent of each one hundred million yuan of auctions has still stirred people's sensitive nerves. After experiencing this year's spring and autumn auctions, people have to ask whether or not there are auctions that can cost hundreds of millions, but how many auctions are worth hundreds of millions.

From the beginning of Zhang Daqian's work "Erico Lake" at the beginning of the year, the "100 million yuan" mark was frequently broken - June 3rd, Poly 5th Anniversary Spring Shoot, Huang Tingjian's calligraphy work "Shu Zhuming", 430 million yuan; November 20th Guardian International Autumn Auctions, Wang Shuzhi's cursive script "Peaceful Postscript" Gaogu transcript, 308 million yuan; December 10, Qi Haiqiu, Xu Beihong's painting "The Ba People's Water Map", 171 million yuan......

Insiders believe that there are two main reasons behind the frequent price rises and the overall transaction price increase: First, because people’s expectations of inflation are very strong, some even reach a point of panic. Inflation expectations have given bidders a certain degree of affordability for high prices. Second, the sky price phenomenon does not appear until this year, but is more “significant” than in previous years.

For the trend of the next year, some market participants predict that after the country has introduced a series of control policies, if inflation can be suppressed, then the sky-high prices will continue to appear, but the overall trend will be stable and there will be no "spilling" phenomenon. It is the same as this year.

Keywords: fake foam

This year, when the auction market is booming, there are rampant “sham shots”, “counterfeits” and “fake goods”. In terms of paintings and calligraphy, relevant statistics show that Qi Baishi's paintings do not exceed 30,000 in his life. However, there are 350,000 pieces of Qi Baishi paintings that can be seen on the market. At the beginning of this year's Hong Kong Sotheby’s Spring Auction, Qi Baishi’s “Tiger”, one of its important items, was questioned just after its release.

However, one stone provoked thousands of waves, and in the following spring and autumn auctions, the sounds of “sham shots” and “counterfeiting” were always heard. Even the “Tai Zhuming” sold for 436.8 million yuan couldn’t escape the “defective product”. Questioned.

In addition, in addition to excitement and confusion, people can not help but ask: behind the price of art is the real market or the bubble is surging? Dong Guoqiang, chairman and general manager of Beijing Shishi International Auction Co., Ltd., said that the skyrocketing price of artworks this year is due to the long-term development of the art trading market and the large-scale entry of working capital.

At present, some so-called “artworks” that are “upstage” by means of hype, packaging, etc., have apparently become highly pricey and the bubble has also surfaced. Once it is destroyed, the price will instantly return to the original point. However, for real works of art, the price continues to rise is understandable, but the sky-high price seems to be too hasty.

Keywords: auction procedure

Today, false transactions, confusion, and non-standard operations all constrain the further development of the auction market. Because the auction law gives the auction company an exemption clause, the art auction market has become a “dead end” that cannot be counterfeited. This point, there has been a big breakthrough this year.

At the end of June, the China Association of Auctioneers announced the official implementation of the first industry standard, “Artificial Art Auction Procedures” (the “Procedure”). The “Regulations” covered the entire process of the auction of auctions for the auction of cultural relics and art objects. It is regarded as a key point in the autonomy process of the Chinese auction industry.

People in the industry generally believe that although the "Procedure" is not a law itself, as a document that guides industry norms, it will play an active guiding role in standardizing industry technical operations and will also promote the revision and improvement of China's "Auction Law."