Chinese Contemporary Auction Analysis – June 2011
|Researchers||Anders Petterson, Nathan Engelbrecht, Yu Chen|
|Report Type||Auction Analysis|
Ullens Sale helps lift the Chinese contemporary art market by 47.2%
ArtTactic’s Auction Analysis Reports summarise and analyse recent auctions from the key auction houses for each specific geographical region. By collecting and graphing data including volume of sales, average price and bought in rates, the reports are able to judge the success of auctions by comparing the final results to pre-sales expectations.
Since the global financial crisis of 2008 China’s art market has been watched closely by most of the art world for signs of stress. However, the Chinese market has maintained an impressive consistency of improving – the very year after the crisis China recorded a 60% increase, the year after in 2010 an even greater increase was seen. As this June 2011 report highlights, expectations remain high for the Chinese market and the market continues to generally meet the market’s demand for greater results. The eargerly antipated Ullens sale is one of the prime focal points of the report.