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“Rational Collecting Statistics” - Event Summary

OGP Reporters / Members Contribute File Photos

Oct 7, 2016

The auction sales of Buddha statues in China in 2015 broke the trough the market has faced for the previous years. The Ming and Qing Buddha statues have gained increasing popularity. The Matthew effect is obvious in the market phenomenon; such as for paintings and calligraphy art.

The auction sales of Buddha statues in China in 2015 broke the trough the market has faced for the previous years. The Ming and Qing Buddha statues have gained increasing popularity. The Matthew effect is obvious in the market phenomenon; such as for paintings and calligraphy art. The 2015 seasonal auctions for paintings and calligraphy art did not continue the adverse state experienced in 2014; numerous art has been sold at over ten million yuan, and some were even auctioned at more than 100 million yuan. Three artworks by prominent artist Zhang Daqian have been sold at the Sotheby’s Spring Auction at prices of 51.2 million, 44.44 million, and 24.08 million, totalling up to 120 million HKD. During the Beijing Poly International’s 10 year anniversary auction, another one of Zhang’s artworks was sold at 31.05 million yuan; in addition, artworks by other artists have also delighted the audience, including works by Cui Ruzuo, Li Keran, Pan Tianshou, Fu Baoshi, and Qi Baishi. Cui’s painting was auctioned at 236 million HKD by Poly Auction Hong Kong. Furthermore, at the Spring Auctions of China Guardian Hong Kong, two more paintings were sold at over 100 million yuan: one is a painting by Pan, which was sold at 179 million yuan; and another by Li, sold at 126 million yuan. The auction prices of painting increased further for the Fall auctions, fluctuating from approximately 100 million to 200 million yuan.

However, with the finale of fall auctions by the three powerhouses - China Guardian, Poly International, and Council, the sales statistics of the remainder of the 2015 season show that collectors have returned to rational thinking and decision making. A collector who works in the sales of paintings and calligraphies stated that the number of sales in-store have largely declined due to the increase of webstores. They are looking for opportunities and channels to help them enhance the public awareness and sales of their products. OGP is honoured to be recommending to them a number of our acclaimed artists, and has promised to establish and promote a positive working relationship between the two parties.

The news update of this event focused around “porcelain” and “jade” items. China is known for fine porcelain; and there are many stunning contemporary works by Jingdezhen artisans at reasonable prices. These contemporary pieces are equally worthy of being collected; collectors have recommended a few stores, located in Toronto. As for jade, most members were interested in the hetian jade and jadeite. The price of jadeite has skyrocketed in recent years, while the price of hetian jade has been stably climbing. One of our collectors, with over 20 years of jade collecting experience, has shared his expertise through a knowledgeable “seminar”.

A number of novice collectors also inquired about differentiating between the real and fake collectibles, and how to decide whether the collectible is really worth its labeled price. Our first advice would be to learn from experienced collectors, for example, those who were present at our event! It is also important to execute thorough research, and observe as much as possible. Lastly, details must not be overlooked, including the comprehension of the market itself.

Considering the current market, contemporary artworks are the most suitable for beginner collectors, because the artworks can be proven to be real. The background of the artist is not the most important, but he or she must possess a personal style and an individualized understanding of “art”. Plagiarism is definitely unacceptable. A piece of artwork has to be evaluated from different perspectives in determining its value. An OGP event such as the “Revival of Rational Collecting” - Collectors’ Convention, provide such relevant education.

The market is now once again driven by rational collecting decisions; purchasing without deliberation is only self-consumption. The value of a collectible is ultimately derived from its uniqueness and exquisiteness; satisfaction of the value criteria is what the public will appreciate.

We would like to thank each members who were able to join us for this event.

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