When the Chinese economy is facing multiple resistance, the opening of the two major art fairs in China will test the appetite and ability of Chinese collectors to invest in artworks.
The two China's two major art fairs opened in Shanghai.The 10th West Coast Arts and Design Expo (West Bank Art Expo) and the 11th ART021 Shanghai Twenty -121 (ART021) on Thursday (November 9)Open to the public for a few days.
There are 185 gallery participating in the West Coast Art Expo, and 150 exhibitors in ART021.Both exchanges belong to the event of Shanghai International Art Trading Week.
According to Bloomberg, the Shanghai International Art Trading Week is the first large -scale art event organized by the Restrictions of the Occites Epidemic.At present, the global background is uncertain, and even ultra -high net worth collectors are reducing the purchase of art.Many years of crown disease restrictions, economic and long -term economic crisis in the predicament have specially hit the Chinese emotions.
It is reported that there are not many ART021's first VIP collectors day, and there is no phenomenon of collectors crazy to buy the most popular art.At the same time, there were only less than 10 visitors each gallery.It wasn't until the afternoon of the day that the venue became more lively.
The exhibitors said they were not worried, saying that they did not expect this year to become a sales year, but they thought it was an opportunity. After many years of online sales, they fought face to face with collectors.connect.
Wu Kejia, the author of the Chinese art market modern history, said that in a period of economic downturn, collectors sometimes regard purchasing certain artworks as a way of hedging risk, but this may also cause estimatesReturn the value.
The Wall Street Journal reported last month that 39 artworks of Shanghai Real Estate and Pharmaceutical Billionaires Liu Yiqian and his wife Wang Wei were shot at Sotheby's $ 70 million (about S $ 95.22 billion).It is far below the expectations of Soto's $ 94.4 million, indicating that Chinese collectors may not save the art market that is constantly falling.
According to the surging news report, there will be more than 100 art activities during the Shanghai International Art Trading Week, including more than 100 exhibition transactions and more than 30 art auctions.The value of the goods is estimated to exceed 10 billion yuan (S $ 1.896 billion).
