Art’s Soaring Fortunes in China
Source: Michael Tchong. China Trends January 4, 2007
The New York Times today reports (subscript. req.) that the world’s biggest auction houses, Sotheby’s and Christie’s, sold $190 million worth of Asian contemporary art in 2006, most of it Chinese, in a series of record-breaking auctions in New York, London and Hong Kong. In 2004 the two houses combined sold $22 million in Asian contemporary art.
Top Chinese art is already commanding six-figure prices and is in high demand, like the above painting by Chinese artist Guo Wei.
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