The upcoming sales in Hong Kong presented by Sotheby’s are another occasion to assess the market for Chinese art and works of art. Reuters makes the prediction that classical painting will remain at the center of the Chinese art market for some time:
Collectors looking for signs of further momentum in the Chinese art market during Sotheby’s spring sales series, however, may instead see caution weigh. “I think the market needs some time to digest the results,” said C.K. Cheung, Sotheby’s head of Chinese paintings. “Prices will be quite stable because of the rapid changes over the past year. It’s quite high,” he told Reuters, referring largely to the fine Chinese painting market, which has seen prices for modern masters like Qi Baishi, Fu Baoshi and Zhang Daqian surge almost 50 percent over the past year. “But for the future, it’s still very positive.”
Masterpieces, Jewels Sparkle in Sotheby’s HK Sales (Reuters)
