嘉德典亚

CHINA’S ART MARKET: THE NEXT CHAPTER

Partner

FT Chinese

Speaker

Kou Qin, Director and CEO of Guardian Investment Holdings Limited, General Manager of Guardian Art Center

Glenn Fuller, Director of Gladwell&Patterson

Jacques How Choong, Director of Jacques How Asian Art

Hostess

Wu Kejia, Faculty of Sotheby’s Institute of Art, New York, Columnist of FT Chinese

In 2016, the overall value of global art trade was $USD 45billion, an increase of 1.7% compared with 2015. Despite the YoY growth, the market has experienced a major shift from public auctions to private sales. By the end of 2016, the global sale achieved through auctions was USD 16.9bn, down 19% from 2015. As a result, auction sales accounted for 38% of the global art trade, while private sales contributed to 62% of the global art trade.
Although the global shift to private sales has not yet been felt in China’s Art Market, the behaviors of art collecting and selling are changing. It is crucial for industry stakeholders in China to assess the current situation, and embrace the transformation in the future. Where is China’s Art Market going? When could China become the world’s largest player in terms of art trading and collecting? What is the role that China will play in the global art market in the next five to ten years?
The symposium, China’s Art Market: The Next Chapter, which was held during Guardian Fine Art Asia (GFAA) in Beijing on October 28th, 2017, asked experts the most critical questions facing the art market and provide a forecast of the future of the Chinese market.