Business
        

Photos

For investors, glamorous bounty lies in looted treasures

Updated: 2010-12-15 09:32

By Cheng Yingqi (China Daily)

Twitter Facebook Myspace Yahoo! Linkedin Mixx

For investors, glamorous bounty lies in looted treasures

Visitors look at an ancient bronze relic at a Beijing exhibition in March. The item is one of the 300-million-yuan bronzeware bought back from abroad. [Photo / Provided to China Daily]

Break from tradition

Mainlanders are now leading the market for Chinese relics, with the majority of buyers from banking, manufacturing and real estate backgrounds, say industry experts.

Although there is no reliable figure on the number of collectors, it is believed their ranks have steadily swelled in the last two years.

"Traditional buyers of Chinese art were from Hong Kong, Taiwan and the US until 1999, with a few people from Chaozhou (an ancient city in Guangdong province) and Shanghai," said Nicolas K.S. Chow, vice-chairman of Sotheby's Asia and international director of Chinese ceramics and artwork.

"This spring, more than 50 percent of buyers at our Hong Kong auctions were from the mainland," he said. "Add the Hong Kong dealers acting on behalf of (mainland) buyers and it's fair to say mainlanders took up 70- to 80-percent (at auctions) in the past year."

Related readings:
For investors, glamorous bounty lies in looted treasures Auction houses have lots going their way
For investors, glamorous bounty lies in looted treasures Traditional handicrafts regain popularity
For investors, glamorous bounty lies in looted treasures Ancient Qing Dynasty vase smashes auction record
For investors, glamorous bounty lies in looted treasures Calligraphy scroll goes for 308m yuan at auction

Statistics released by Christie's, another global auction house, show the spending of mainland buyers grew 94 percent in 2009.

However, as many investors entering the market are laymen when it comes to antiques, professional agents are cashing in on the demand for their expertise and services.

Yang Yufeng, a specialist who founded Beijing's Zhilan Yaji art salon, said an agent can charge "millions of yuan" for successfully bidding on a rare treasure.

It was an agent negotiating for a mystery client on the phone who snapped up the 18th-century vase in November. Bainbridge's refused to reveal the name of the winner, although they confirmed he was from the Chinese mainland, probably Beijing.

The ornament, which was made during the Qing Dynasty (1644-1911) under the rule of Emperor Qianlong, is hollow and contains a smaller vase inside that turns independently.

E-paper

Ear We Go

China and the world set to embrace the merciful, peaceful year of rabbit

Preview of the coming issue
Carrefour finds the going tough in China
Maid to Order

European Edition

Specials

Mysteries written in blood

Historical records and Caucasian features of locals suggest link with Roman Empire.

Winning Charm

Coastal Yantai banks on little things that matter to grow

New rules to hit property market

The State Council launched a new round of measures to rein in property prices.

Top 10 of 2010
China Daily in Europe
The Confucius connection