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Artnet and the China Association of Auctioneers Global Chinese Antiques and Art Auction Market B Annual Statistical Report: 2012

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Artnet and the China Association of Auctioneers Global Chinese Antiques and Art Auction Market B Annual Statistical Report: 2012 GLOBAL CHINESE ANTIQUES AND ART AUCTION MARKET ANNUAL STATISTICAL REPORT 2012 artnet and the China Association of Auctioneers Global Chinese Antiques and Art Auction Market B Annual Statistical Report: 2012 Table of Contents ©2013 Artnet Worldwide Corporation. ©China Association of Auctioneers. All rights reserved. Letter from the China Association of Auctioneers (CAA) President ........... i About the China Association of Auctioneers (CAA) ................................. ii Letter from the artnet CEO .................................................................. iii About artnet ...................................................................................... iv 1. Market Overview ............................................................................. v 1.1 Industry Scale ............................................................................. 1 1.2 Market Scale ............................................................................. 3 1.3 Market Share ............................................................................. 5 2. Lot Composition and Price Distribution ........................................ 9 2.1 Lot Composition ....................................................................... 10 2.2 Price Distribution ...................................................................... 21 2.3 Average Auction Prices ............................................................. 24 2.4 High-Priced Lots ....................................................................... 27 3. Regional Analysis ........................................................................ 33 3.1 Mainland China ......................................................................... 37 3.2 Overseas .................................................................................. 41 4. List of Global Chinese Antiques and Art Auction Houses in 2012 . 45 5. List of Lots Sold Over 10 Million RMB in 2012 ............................. 75 Notes ............................................................................................. 107 Contact .......................................................................................... 110 Global Chinese Antiques and Art Auction Market i Annual Statistical Report: 2012 Letter from the China Association of Auctioneers (CAA) President the distribution of power in the global auction market. In 2011, the Chinese auction market became the world leader in terms of sales value, making it an international center for the buying and selling of art. Meanwhile, the international market for Chinese Art and Antiques became increasingly active. To ensure the comprehensiveness and integrity of the information in this report, artnet has compiled and The China Association of Auctioneers (CAA) is excited analyzed overseas data, and CAA has strictly verified all to partner with artnet on the creation of this report data from mainland China to ensure that it is objective detailing the global auction market for Chinese Art and and reliable. This report will provide researchers and Antiques. Working together, we can present a more related organizations from China and overseas with comprehensive annual report and a better analysis of industry data that most closely reflects market reality. both the mainland Chinese and international auction Through this report, we hope to promote the healthy industry. development of the global auction market. The official collaboration between CAA and artnet In the upcoming year, CAA and artnet will launch was initiated in the spring of 2013. Combining each additional collaborations, including an international organization’s unique strengths and position within forum, delving deeper into the global market for Chinese the market, we hope to create a stronger platform for Art and Antiques. We look forward to continuing this promoting discussion about the global auction market relationship and providing greater insight into these for Chinese Art and Antiques. Our collaboration will markets. We thank you for your support! be carried out in various stages, the first of which is presented here in the Global Chinese Antiques Zhang Yanhua and Art Auction Market Annual Statistical Report: 2012. During the last decade, the flourishing art and antiques President, China Association of Auctioneers auction market in mainland China has led to a shift in ©2013 Artnet Worldwide Corporation. ©China Association of Auctioneers. All rights reserved. Global Chinese Antiques and Art Auction Market ii Annual Statistical Report: 2012 About the China Association of Auctioneers (CAA) The China Association of Auctioneers (CAA) is the only In 2010, the Ministry of Commerce of the People’s national association of the auction industry in China. Republic of China issued the Standard for Auction of Its functions include auctioneers administration, and Cultural Relics and Art Works. This Standard, drafted auction house regulation and supervision, as outlined by CAA, marked the beginning of the standardized in the Auction Law of the People’s Republic of China, development of Chinese auctions. Currently, the Chinese as well as business promotion, policy coordination, auction industry is regulated by one national standard information services, and consulting. and five industry codes of practice. Established in 1995, CAA has been the most important Today, as the Chinese auction industry grows platform in the world for establishing connections internationally, CAA is playing a leading role in building within the Chinese auction industry, making every effort a platform for communication with international trade to promote the development of the Chinese auction associations, auction houses, academic institutions, and industry and market. Revitalized in 1986, and lead by various other organizations. CAA, the Chinese auction industry has entered a new era. CAA looks forward to working with these fellow organizations to promote a better integration and In 1996, the Auction Law of the People’s Republic of development of the global auction market. China took effect after several years’ effort by CAA. As the first auction law in China, it laid a solid foundation for the standardized development of Chinese auctions. In 1997, CAA certified the first national auctioneers. Currently, 11,040 national auctioneers have been trained and certified, and serve as the backbone of the industry. In 2005, CAA total membership reached 1,000 for the first time. Today, we have more than 2,400 members, including all of the most well-known and prestigious Chinese auction houses. ©2013 Artnet Worldwide Corporation. ©China Association of Auctioneers. All rights reserved. Global Chinese Antiques and Art Auction Market iii Annual Statistical Report: 2012 Letter from the artnet CEO initiate cross-cultural dialogue on the Chinese market by engaging a variety of international industry professionals to address issues faced by business practitioners operating within the Chinese market. Working with CAA to provide data analysis, artnet hopes to bring a new level of transparency to the Chinese market. Our Price Database has long been esteemed by art professionals as the most comprehensive Photograph by Todd Eberle and trusted resource on auction data; through this collaboration, we have augmented our existing auction artnet is pleased to present a new report on the 2012 data with auction results from mainland China analyzed global Chinese Art and Antiques auction market, by CAA. produced in collaboration with the China Association of Auctioneers (CAA). We look forward to expanding this partnership over the next year, providing additional platforms to discuss In recent years, China has held an increasingly emerging trends in the market. prominent position in the international art market. Chinese collectors have looked westward to build their Jacob Pabst collections, and international organizations are looking to expand into China, where collectors have significant purchasing power and a longstanding history of buying art and antiques. CEO, Artnet Worldwide Corporation The art market has witnessed rapid growth, and is a much more international scene than it was a decade ago. We hope that our partnership with CAA will help to ©2013 Artnet Worldwide Corporation. ©China Association of Auctioneers. All rights reserved. Global Chinese Antiques and Art Auction Market iv Annual Statistical Report: 2012 About artnet artnet is the leading place to buy, sell, and research 35,000 artists. artnet Galleries offers the world’s most Fine Art, Design, and Decorative Art online. comprehensive overview of artworks available for purchase. artnet was founded in 1989 with the goal of bringing transparency to the art world. In the past, the lack of In 1999, artnet went public in Germany. Since 2007, objective price information was a stumbling block, for artnet has been listed in the Prime Standard of the buyers in particular, that prohibited the market from Frankfurt Stock Exchange, the segment with the highest growing. transparency standards. The art business has always been international; In 2008, artnet pioneered the first online auctions however, before artnet, it was managed locally in platform exclusively for Fine Art, artnet Auctions. With relatively inefficient markets by tens of thousands of artnet Auctions, collectors can both buy and sell art geographically disparate art dealers, galleries, auction 24/7, with instant turnaround and lower commissions. houses, book publishers, museums, and collectors. Launched in the spring of 2012, artnet
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