Hundreds of billions of new capital poured into the art market

Capital Take shortcuts Hype Price Benchmarking "when the industry chat, some painters have appeared to lack of confidence, that the price is a bit empty, but the speculators do not see." "A person in the industry talking about the growing popularity of the collection market, said the speculators confidence is understandable."　　On the one hand, the value of art is eternal, on the other hand, so much money must find a way out, "real estate, the stock market has become this way, the art collection of course will be replaced." New faces and records Chinese collectors have come into the general public from the elite in the first half of this year. Modern calligraphy and painting category turnover first breakthrough billion mark, the auction market single season total turnover breakthrough 2 billion yuan Mark, the two are called "double breakthrough."　　In addition, the auction market also appeared in hundreds of words to sell more than 400 million yuan sky-high price of the astonishing case. In May this year, China's 2010 spring auction of the total turnover of 2.128 billion yuan to create a single quarterly auction of the highest record, but also the domestic auction market for the first single quarter total turnover across 2 billion yuan mark.　　Also in May, Chang in his late years of huge silk painting "Love Mark Lake" shot 100.8 million yuan. The "Double break" record, seen by the industry as a landmark event, did not last long.　　Earlier this month, Huang's "Pillar Ming" set a record of 436.8 million yuan in Chinese art auctions. Records are constantly being broken. In addition to the funds that have been steeped in the art market for years, some market insiders say Shanxi coal bosses are starting to invest in art as a "cold".　　Some markets have reported that some 100 billion yuan of new money has flowed into the Chinese art market in recent years. As the third largest investment hot spot outside the capital market and real estate markets, the collection market itself is more interesting and stable, and will naturally take on the idle money.　　"Beijing Hua Chen Auction Co., Ltd. General manager Gan Xu Jun said that in recent years, new faces have entered the market, showing that the market investment and speculative increase greatly." Some reports say that in the current three hot spots for social investment, the financial industry's average return on investment is about 15%, real estate is about 20%, and the return on investment in art collection is 30%.　　So capital pursuit is inevitable. The habit of capital market to bring in "a large amount of hot money come in, will inevitably bring the various habits of the capital market in."　　Gan Xu Jun said that the advantage of capital entry is to increase market capacity and market size, side effects are the need for capital to profit from shocks, plunging and soaring followed, the record is also logical. "Traditional collections pay attention to leisure and spare money, often take this hobby as a writer learning tradition, long time to retain." If capital dominates the market, investors have to set a return cycle and return on investment. For example, invest 100 million yuan of the principal to buy collectibles, 3 years after the sale should be added to 300 million yuan.　　Gan Xu Jun said the new investors were amateurs, attracted by the price surge and chased in waves. According to his estimate, in the next 5-10 years, the domestic collection market will still be a high-speed growth period, and in the next 5 years, there will be a price breakthrough100 Million Dollar collection. The face of hot money speculation led to the "bubble", many market participants said that the collection of short-term and rapid speculation has become a worldwide phenomenon, not unique to China. The domestic market continued to rise over the years, giving more enthusiasm for participation. "Which of the tens of thousands of and hundreds of thousands of-dollar collections of the last century of the 90 is not at a time of millions of yuan?" "Bubble there?"　　Where is it? Gan Xu Jun firmly believe that the overall market is not a bubble, "in the volume of China's economy, a 1000 years ago, a great art to sell more than 400 million yuan, you think it is not worth it?"　　"Compared with Huang's 700-word calligraphy, the high price of modern art has raised more questions," he said. According to the introduction, ancient works of art are through time and past generations of collectors test, and a limited number of circulation up to need many years, so will inevitably get more money sought after.　　Modern art, whether it is the connotation or the actual value is not easy to measure, this is the "art bubble" The voice of the reasons.　　In fact, all areas of art has been hot, but the ancient collection is scarce, not conducive to speculation, and modern collection more easily become the overall market price of the benchmark, the most typical is Chang and Qi Baishi works. "Chang and Qi Baishi have ' South Zhang Qi ' said, the market position and artistic attainments naturally needless to say, and their works more, in the market has a certain amount of liquidity, constitute the basis of capital operation, can be constantly activated as a hot market." An analyst said that at the end of last year, Qi Baishi's works broke through 90 million yuan. Last month, Chang's works breakthrough 100 million yuan, to the overall calligraphy and painting market all the way up has played a very strong guiding role.　　Huang Jian's works are difficult to be regarded as the whole painting market price benchmarking. "In the high-end market hype price benchmarking, is actually capital in the shortcut." Gan Xu Jun that the main body of the middle-end market is still more rational.　　Even the high-end market hype, the choice of the carrier is also recognized by the Society of the value of artists and works, "as long as the market does not deviate from this core, it should be positive to see." However, to remind the majority of small and medium-sized collectors, the high-end game is not suitable for the wind, but also can not deviate from the value of the collection core. This is because specific to a certain kind of collection and an artist, does not guarantee a certain amount of money.　　Gan Xu Jun said. The market will continue to expand data showing that the domestic market has soared since the 90 's. The industry expects the domestic collection market to increase by more than 25% this year. 1994 Beijing Jia de auction, domestic buyers accounted for 60%. 2001 Shanghai Cloud Xuan on the spring clap, domestic buyers close to 80%.　　Not long ago in Hong Kong Christie's spring shoot, mainland China's buyers contributed 30% of the turnover, plus the Taiwan and Macao region, the total turnover of buyers accounted for 80%. "At present it is only a continuation of the hot spots of previous years. "Some people in the industry, as early as 2004 years, Jiangsu and Zhejiang Private Capital began to enter a large collection market." Subsequently, the Fujian, Guangdong and other funds began to enterInto。 "The domestic collection of the longest is no more than more than 20 years of history." Gan Xu Jun said the traditional collectors ' behavior was not entirely different from the newcomers ', and that traditional collectors could be involved in a short-term hype spree.　　Regardless of the mindset of the participants, Gan Xu Jun believes that it is good for the protection and inheritance of traditional culture, and that "many speculators can easily become real collectors after buying the collection". The author of this edition of the morning reporter Zhou Zhihong reporters to learn from the Japanese lesson small collectors don't follow suit. Since the 80 's, Japan's corporate and financial giants have been massively involved in the art collection market.　　In the 80 's, in Sotheby's and Christie's paintings, Americans bought only 25%, Europeans bought 34% and the Japanese reached 40%. By the time Japan's economy peaked in the 90 's, Japan's art auctions had seen unprecedented highs.　　However, with the bursting of the economic bubble, collectibles began to be discounted, and calligraphy and painting used for debt bondage piled up in banks, the most extreme of which was the price of some items falling to about 1/5 per cent of the purchase. However, many market participants are more optimistic. "Neither the market capacity nor the affordability of Japan and China is a heavyweight."　　Gan Xu Jun said that in China's thousands of-year history, artists and art categories are voluminous, and no country is comparable. Some of the more extreme analysts even believe that the Japanese money in pursuit of Western art is "fooled" by Western speculators, "our ancient out-of-print calligraphy and painting obviously will not have a similar risk."　　Because of the current domestic funds to buy a large number of basic domestic calligraphy and art, especially ancient works of art, "those ancient calligraphy and painting of the spiritual value of nature needless to say, and they themselves are scarce and historical, so always have value-added expectations." "The bubble burst did not break into Van Gogh's" Sunflower ", the original 80 million dollar purchase price, today I am afraid far more than this price. Gan Xu Jun that Japan's biggest lesson is that some of the benchmark high-end market opened up, triggering a large number of small collectors and bid up prices, resulting in a variety of low-end European art into the Japanese market, the final rupture of this part of the collection of the bubble, this is the domestic collectors need to pay attention to.