Why the Global art market shines in the year of Miracles 2021?
Why the Global art market shines in the year of Miracles 2021?As the year 2022 enters the third year after the outbreak, many people are relatively conservative and even pessimistic about the economy and markets of countries around the world.In terms of the art market, however, 2021 was a “miracle year” — more than 100,000 works by more than 30,000 artists were sold, including $2.7 billion for contemporary art, more than double the amount in 2020 and reaching an unprecedented volume.Behind this astonishing figure, the performance of The Chinese art market is even more outstanding: Both western works of art in the Chinese auction market, and works of Chinese artists in creating auction records, there are amazing performance.This year, Asia is emerging as the first destination for contemporary art, with China performing particularly well, accounting for 40 per cent of all contemporary works sold in 12 months.This kind of “go up against the trend” of the situation, what kind of undercurrent surging behind?In the eyes of those familiar with the art circle, what kind of logic does it have?Data western important work auction market in China shine graffiti artist gods, works the most eye-catching performance in 2020, China only 3 pieces of western art auction market price is $, but only a year later, in 2021, a total of 11 pieces of Chinese art auction market breakthrough in western art price is 100 million yuan RMB.Wang Jianlin, chairman of Wanda Group, bought Picasso’s painting “Two Children” for 172 million yuan in New York in 2013.In 2014, Wang Zhongjun, head of Huayi Brothers, paid 377m yuan for Van Gogh’s Painting “Daisies and Poppies”, marking two landmark moments for Chinese collectors to buy Western art.In less than 10 years, western art in The Chinese market is not only fully spread, the list of artists is more diversified, and more quickly achieved the achievement of “over 100 million”.On the evening of May 20, 2021, German pop art master Gerhard Richter’s 1968 work columns (seven coups) was sold at a high price of 80.5 million yuan at China Guardian, marking a prelude for western works of art to reach 100 million yuan in China’s autumn auction.On the evening of November 28, 2021, China Guardian launched the “Impressionist and Modern Art Evening show” for the first time. The Water Lily Pool and Rose created by French Impressionist Master Monet in 1913 was sold for 154.1 million yuan, becoming the first western art work auctioned for 100 million yuan in China.Only after 5 days, western art in China has again hit a breakthrough success – late December 3, French representational painting master barr di last complete painting the cat Ⅲ in the mirror in the yongle 2021 autumn “international vision, globalization of modern and contemporary art evening”, by 15 from global buyers for more than half an hour later,Finally, it sold for nearly 167 million yuan, which not only refreshed the highest record of an artist’s public auction, but also created the highest transaction price of a Western artwork in China.Another Western artist whose work was a hit at Chinese auctions in 2021 was black graffiti artist Jean Michel Basquiat, who died young.His 1982 work, “The Soldier,” made a splash when it sold for HK $323.6 million, setting a record for a Western work of art sold at auction across Asia.Keen international auction house quickly followed suit, as the Chinese auction market bath more stern – at the end of May 2021, sotheby’s announced that cooperate with jay Chou, which crossover curator, preview all the works of 100% on your evening auction clinchs a deal in the following month, one of the leading heavy works is buss gods “untitled”, clinch a deal for hk $289 million.According to statistics, five basquiat works of more than 100 million yuan were sold in the Chinese auction market in 2021, with a total turnover of nearly 1 billion yuan.Not to be outdone, Christie’s, another auction giant, held a preview in Shanghai in November 2021 with the theme of “Radiance”, the largest basquiat exhibition in China to date, featuring 11 of the artist’s finest works from the 1980s.In March, Christie’s will also auction a major Basquiat painting, ‘The Leader,’ in Shanghai.Chinese and American artists dominate the global art auction market. While Western art masters are prominent in China’s auction market, in 2021,Asian artists, including Chinese artists, have also made a bright report card in the global auction market. In the list of the World’s Top 500 Contemporary Artists in 2021 released by Artprice platform, 19 of the top 50 artists are from Asia, and several young artists born in the 1970s and 1980s are also listed.Showing a “green and yellow” strong situation.At the top of the list is the artist Chen early popular Tibetan paintings, shepherd, in June 2021, the size is not big on the board of oil price of 161 million yuan, and 2020 in the same price of zeng fanzhi paintings sharply “mask series 1996 no. 6” side by side, as one of the highest Chinese contemporary art auction.The painting puts Chen in the top 3 of the world’s auction records for contemporary artists in 2021, behind basquiat and Beeple, a digital artist known for his WORK at NFT.Chen was followed by renowned contemporary artist Zhang Xiaogang’s museum-quality work Blood: Big Family No. 12, which sold for 81.19 million yuan at The 2021 Yonglechun auction, his second highest price.In 2016, the work was auctioned at Beijing Kuangshi for 38.18 million yuan. Five years later, the collector sold it again, and the price more than doubled.It is worth noting that the nationality of the artists can also be an indicator of the dynamism of the auction market.In 2021, American and Chinese artists accounted for more than half of total annual sales.In Asia, the work of the top 15 of the total turnover of contemporary art auction house, Chinese artist landslide occupies most of the seats (12), the rest 3 artists from Japan, are respectively established nara, takashi murakami, and in recent years, high-profile after 80 female artist hex color, ink widely seen as the next of nara.In China’s contemporary art world, much attention is being paid to huang Yuxing, a post-1970s artist whose “Qibao Song Map” (a seven-piece) sold for 532.25 million yuan at Christie’s Hong Kong autumn sale last year, a price that increased his personal auction record nearly sixfold overnight.It is reported that Huang Yuxing’s works since 2006 began to enter the auction market, the price of a few years ago only hovering around 100,000 yuan, until 2016, the first million record, from 2018 began to rise, only two years more than it broke the threshold of ten million.But while upstarts are impressive, the market is still dominated by artists born in the 1950s and 1960s in terms of sales.The Asia Pacific region accounts for about 40% of the world’s art auction market. Behind these dazzling figures and amazing prices, what new trends are reflected in the current world art auction market?The rise of the young generation of collectors has become a group that can not be ignored.In addition to the strategic advancement of auction houses, the iteration of the collector community is also a reason why the works of Western masters such as Monet and Balthus have been highly sought after since they first appeared in The Chinese auction market.According to insiders, Asian collectors can be roughly divided into two groups, one is the first generation of rich, the other is the young group.Most of these young collectors come from wealthy families and have overseas study backgrounds. Their knowledge structure and vision are more international, and they have a more accurate eye for art.This is something that most of the older generation of collectors, whose career is to create wealth, do not have.At the same time, with the rapid growth of the young generation, these two types of collectors are merging. For example, parents are collecting Impressionism, while children are collecting fashion art. The two tastes are symbiotic in one family.In the first half of 2021, 39 percent of buyers were from the Asia-pacific region, according to Christie’s previously released data.”In the second half of the year, the total purchase volume of mainland Chinese customers surpassed that of Hong Kong, becoming the largest collection group in the Asia-pacific region,” Said Yang Yuancao, chairman of Christie’s China, when Christie’s announced its 2021 global results.Li Yanfeng, general manager of the 20th Century and Contemporary Art Department of China Guardian, told Red Star news that a major feature of the art auction market in 2021 is “the explosive power of fine works”.The fine works he refers to are important works that have been clearly identified and repeatedly demonstrated by art history. “The scarcity and importance of these lots are the fundamental reason for their high prices.These gems are rare, and once released, the market feedback is always very positive.”In addition, Li Yanfeng also mentioned that in the context of the global market being affected by the epidemic, the whereabouts of part of the funds will be confused, so the collection of fine art is obviously a good choice.”In addition to the value of collection, really good art also has a certain asset allocation function, because its value is always stable.”However, he also pointed out that art collection and investment is always a relatively minority behavior, so it is not affected by the economic background of the overall environment, and the correlation with the epidemic is actually very weak.”The change of generations, the change of collectors, the increasing internationalization of the knowledge structure of the collection group, etc., is bound to one day accumulate steadily and usher in the current prosperity, which can be said to be the inevitable result.”As a senior expert in the art auction industry, Li Yanfeng is also full of confidence in the positive impact of young collectors on the art market ecology. “In terms of the orientation of collection, it is very conducive to the expansion of the scale of modern and contemporary art.”Lu Peng, director of the Academic Committee of 2021 Chengdu Biennale and a famous art curator, believes that the birth of 2021 “Miracle Year” is mostly accidental.”It was a combination of desires and impulses because there was nothing else to play with [investing].”However, this statement also confirmed from the side of Li Yanfeng mentioned the “confused whereabouts of funds” the status quo.”Of course, this impulse and desire is worthy of recognition.””It is a good desire and impulse,” Lu added. “Compared with investment activities purely for preserving and increasing value, it has more humanistic value and is also an important support for good art and artists.”At the same time, as a famous art historian, Lu Peng also fully agrees with the saying that “buying works written into art history is never wrong”.”Art history is always the most important reference.The high price of a work is always related to art history.Until now, if it is an important work in art history, from the time it was created until today, it has a stable price whenever it comes up for auction.”Chengdu Business Daily – Red Star news reporter Qiao Xueyang