The Chinese Art Market Outlook 2009

The Chinese Art Market Outlook 2009

CHINESE ART MARKET
(Source Art Radar Asia, an Experts' Opinion)
Why there are opportunities in Chinese 90s-made art and Chinese photography and how Western museums are impacting this market are some of the topics in the interview between Anders Petterson, Founder and Managing Director of ArtTactic and Larry Warsh, Founder of AW Asia.

Buying opportunities - 90s art and photography

AP: Where do you see buying opportunities in the Chinese contemporary art market in the short and long-term?

LW: In the short term-the next 12 to 18 months-there will be good opportunities to buy works by top-tier artists in both painting and photography. By top-tier, I mean the 40 or so who have gained art-historical recognition, have been internationally exhibited, and are being acquired by museums in the West as well as Asia. Historical works by these individuals -the first generation of Chinese contemporary artists, from 1989 through early 2000s-are relatively scarce and will continue to gain value. The global downturn has yielded some attractive pricing, particularly in comparison to top contemporary artists in the West, creating smart buying opportunities. In fact, art funds focusing on Chinese contemporary art have been formed to take advantage of this moment. Museums are also acquiring for their collections.

Chinese contemporary photography is a buying opportunity. It’s still undervalued relative to painting, which was the focus for collectors for many years. Quality works will become increasingly scarce, particularly as China develops as a consumer society with its own collector base. The Chinese audience with disposable income is growing, and a consistent percentage of those people will become art advocates and collectors.

The Chinese economy may be slowing down, but it is not in a recession. China will remain among the world’s most attractive investment destinations, and art will continue to parallel this direction. The result is that Chinese contemporary art will weather this economic downturn and will come out as an even stronger player. Read Article...
http://artradarasia.wordpress.com/2009/04/04/chinese-art-market-outlook-2009-arttactic-awasia/