[intro]Flight to Quality in Chinese Art Favors Modern Masters and Ink Painters[/intro]
Hurun released it’s list of the top Chinese artists this week. The Wall Street Journal details some of the changes, including a shift from Contemporary painters to older masters:
In the top spot is 89-year-old Zhao Wuji, with total sales at public auction of US$35.1 million. That is up 32% from the previous year. He is followed by 91-year-old Wu Guanzhong with $31.7 million, up 18%. Fan Zeng, 72, came in at No. 3 with $21.7 million in sales, almost double the level from the previous year.
The average age of the top 10 artists is 77, compared to 58 last year. (A similar ranking at Artfacts.net shows that the current top 10 living artists globally have an average age of 72.) […]
Overall, last year wasn’t a great one for the Chinese art market. Works by the top 50 artists on the 2010 Hurun list sold a combined $258 million at auction last year, a 37% drop from the previous year.
The number of painters on the list using the traditional Chinese ink style leapt to 19 from eight last year, while the number of contemporary artists on the list declined to 25 from 35.
Collectors Seek Work By Older Chinese Artists (Wall Street Journal)
