The issue of Chinese art market growth significantly in global society involving the art market has been highly debated.
China’s art market has been enormous increase and stand as the world’s leading market for art and antiques.
At the end of 2012, it replaced America became the word’s second biggest art and auction market with art market value. During 2007 to2011, Chinese art market the world’s fastest growth rate.
The issue of the China art market rises rapidly in a short time might be problematic is definitely controversial one. It’s a well-known fact that the expeditious rise of a Chinese market transport number of problems.
They are two main problems during this stage.
First of all, the biggest problem is that the market was overflowing with forgeries. Even though the fraud already exists in the international art market for years, the market was aggrandizing too quick to follow up regulators to keep pace. It was noted that art market had barely noticed two decades before, which the auction value were rising 900 percent since 2003 and reach $8.9 billion in 2012, followed by the auction market of United States in 2012 was $8.1 billion.
On the other hand, the spirit of admiration of past culture and learn how to produce high-quality copies of paintings, ceramics and jade artifacts also increase the problems.
There are hundreds of workshops producing replicas of ancient relics and artifacts in different material. The respect for master’s work was twisted into the dark side, people with quality skill not only produce high-quality replicas, or imitations of old works, also they have the ability to create the “real thing”. This kind of environment cause streaming forgeries appears.
Barboza says that those disillusioned pieces are good enough to fool connoisseurs and able to sell in the auction house. As a consequence, follow up with the forgery problem, the huge number of payment defaults happened.
The study from China Association of Auctioneers found showed that in the category of artwork value more than$1. 5 million, there’re around half of the sales didn’t accomplish for the reason of buyer deteriorate to pay for the work, which most base on the fraud concern.
The forgery issue might be one of the major challenges for the market.
There’s another factor is on the Chinese art market is the widespread “bribery”. Art market was treated as a breeding ground. Artwork was often used as an approach for companies to bribe the government officer because of the value of art is not that obvious.
With the “gift-giving” culture in China, bribery presented itself as the major drive in the grown market; The bribery to government officer with the artwork is a pervasive phenomenon that the Chinese have a phrase to call this putrescent behavior as “elegant bribery” .
Actually, there are still a lot problems during this stage.
Not only this Two.
It can’t deny that the Chinese art market might face more problem during the press of build up the whole art system.
I still strongly believe that the value of art market brings is more precious.
As Zhang Yanhua, the chairwoman of the association explained that this problem might due to the general environment, he mentioned that China still on the stage of setting their law in the nation.
Well, let’s just wait and see what gonna happen next.
Hope you enjoy,