This piece of news from Art Market Monitor is two years old, but serves as a good reminder for both new and existing collectors. With this phenomenon, observers are debating over the speculative nature versus the true art appreciation spirit in Fine Chinese Art.
The National in the UAE notices that Chinese art collectors have shifted their focus:
“We’ve got to the position where the wealthy local Chinese have probably already got their villa houses or they’ve already bought the cars they wanted or they’ve invested in other things, and now they’re looking to enrich their lives,” says Simon Kirby, the director of the Beijing gallery of Chambers Fine Art, which also has a branch in New York. “People are looking for meaningful ways to use disposable wealth and art is an exciting way to do that.”[…] “We’re at an interesting juncture now because it’s the first time we’re seeing the emergence of a very local contemporary art market in China,” Mr Kirby says. “Chinese collectors are looking for contemporary works that draw on a Chinese cultural background rather than an internationalised contemporary art background that they don’t relate to. The great tradition in China is of course related the ink painting or calligraphy. New collectors are very interested see how artists can work with these ancient traditions in a contemporary and exciting way.”