Chinese contemporary art and art market in London

Résumé du document

This research study will apprehend the place of Contemporary art of China in the London art market. It is an opportunity to lead further research on Contemporary art as well as understanding the strong ties linking it to London. The sources are not scarce on the subject, nevertheless their accuracy were often questionable due to the fact that Chinese Modern art unleashed passions within the art world, leaving a very small place to objective points of view and studies. In this manner, this study will try and comprehend the inner working of the relationship between Contemporary art of China and London, trying and linking them with external influences. It seemed as the best way to complete the documents found on the subject which appeared very often too partial or incomplete. In order to do so, the following analysis will be divided in two main parts. The first part will explain London's enthusiastic welcome of Contemporary art of China, due to its privileged networks with Hong Kong and the particularity of Chinese Avant-garde art. This information will then be put into perspective, analyzing the evolution of Contemporary art as a whole and London's art market characteristics and will go through the art market players main worries concerning the rise of this segment. The second part will analyze the financial crisis impact on this volatile segment and the investors reactions before having a look at the future implication for this segment, tending to make it more rational and changing power of hands.

Extraits

[...] Chinese Contemporary art is very young, and the flooding of foreign money and tastes seems to have somewhat perverted it. Art critics and curators such as Fei Dawei[20] deplore the Western influence on Chinese Modern art, which is according to him affecting the very development and maybe direction of the whole artistic production towards works that would match Westerners tastes and expectations, playing on the “Chinese brand” effect that seems to be linked with the recent rise of this art. [...]

[...] American artist born in 1955, extremely popular in auction sales for breaking record after record- fetching the $23m for Balloon Flower (Magenta) on the 30th June 2008 Christie's sale- and for his subversive exhibitions such as his retrospective in the Chateau de Versailles from September 2008 to January 2009. London-based auction house and exhibition centre specialised in Contemporary art, placed number three after Sotheby's and Christie's in terms of Contemporary art sales turnover in 2007-08 (The Artprice annual report 2008, op, cit. p15). Irish painter born in 1909. Chine information website. Interviewed by Tara Loader Wilkinson for the Wealth bulletin of March, 13th Art Market Trends 2008, by Artprice, op. cit., p7. The buy-in refers to the pieces which fail to sell. [...]

[...] The Artprice Annual Report 2008, op. cit., p 10. Ibid, op. cit., p 25. The first five auctioners leading this segment's market are Chinese (Artworks Auction Market of China : Spring op. cit., p18). [61]The Artprice Annual Report 2008, op. cit. Artworks Auction Market of China : Spring op. cit., p11. [...]

[...] “Bureaucratic Barricades: Shanghai Is Tapped In A Web Of Red Tape”. Flash Art magazine, available online. Safe Corner editorial staff. US signs bilateral agreement with China to protect cultural heritage”, Safe Corner, January 17th 2009, available online. Various Resonance radio station Isabelle de Maison Rouge. L'art contemporain. Paris: Le Cavalier Bleu Hong Kong government website Appendix At the heart of the pro and con debate on Modern art from China. FINEL, Ana. believe the hype about Chinese art”. The Guardian, February 16th 2007. [...]

[...] Art Market Trends 2008, by Artprice, op. cit. Director of the International Center for Finance at the Yale School of Management. BARKER, Godfrey. Art Market Miracle”. The Evening standards, March 16th 2009, available online. Art Market Trends 2008, by Artprice, op. cit., p7. Ibid, op. cit. [...]