Chinese Investors Keeps European Fair Art Market Roller-Coaster Ride

Dec. 23 – There is no event quite like the European art fair because of the sheer breadth of what it has to offer. It is packed with about $5.2 billion worth of art and objects being offered by 265 dealers from 20 countries which flocked to this small Dutch city – Maastricht, the Netherlands. There were reports that more wealthy Chinese investors than usual were among the serious shoppers.

In 2011 China became the world’s principal market for art and antiques for the first time with sales soaring to 30% of the global total, according world art market reporting. An exceptionally rare and fine gem set agate and gold mounted nécessaire cabinet with inset watch made by Thomas Grant of London in 1760 as a gift for the Chinese Imperial Court was sold by Somlo Antiques, London to a Chinese collector. When Chinese multinational Dalian Wanda Group paid a record-breaking $28.2 million for a Picasso painting at a Christie’s auction on November 2013, more than double the high-end estimate for the artwork, it indicated that not only is the art market flourishing in China, but also growing in demand as an anchorage for well-to-do Chinese investors.

At the world’s leading art fair- The European Fine Art Foundation (TEFAF) Maastricht, the Netherlands 2013, Asian art dealers Littleton & Hennessy Asian Art sold a number of pieces to Chinese collectors including a massive sacrificial blue bottle vase, Tianquping – Yongzheng mark and period (1723-1735) and an 18th-century carved bamboo brush pot, inscribed and signed by one of the most celebrated artists of this time, Gu Jue. Both pieces had an asking price in the region of €1m.

In 2013 the world’s most important art & antiques fair – The European Fine Art Foundation is exploring the possibilities of expanding into China via Sotheby’s Beijing Joint Venture Platform which has entered into exclusive discussions with Sotheby’s to explore the possibilities of developing a high-end art fair for China, via Sotheby’s Joint Venture in Beijing with GeHua in 2014. “The European Fine Art Foundation (TEFAF) Beijing 2014” would represent a ground-breaking collaboration between a leading international auction house and the world’s most important art and antiques fair.

It is the right time to further develop its presence in China- one of the most significant art markets, to contribute to the further growth of the market for European Fine Art in China by facilitating a high end art market platform for Chinese investors, collectors and international art dealers, according to The European Fine Art Foundation reporting.

Part of the reason why wealthy Chinese investors are now making most of their purchases in markets such as Europe is because of the safety and authenticity that mature art markets such as Europe can provide to investors. It is believed that the sound development of the Asian art market is conceivably one of the most important trends in the global art market during the past decade. The growing demand for Chinese art has resulted in sharp price spikes. The growing presence of Chinese buyers in the European art market has also inflated prices for Asian artwork prices across Europe, particularly for Chinese art, because most of the collectors are focused on products from China.

The Chinese art market is a unique chance for European fine art expenditure; there are growing interests from wealthy Chinese investors and collectors for Asian Fine Art. For report on “Demand of Chinese Investors for Art Investment –China Art Market Report 2014” available upon request, contact with DCCC or mail to: info@dccchina.org

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