ArtTactic's Chinese Contemporary Art Market Confidence Survey Shows Continued Strong Recovery
Over the past 18 months, the emergence of the mainland Chinese auction house as a strong regional force and the growing clout of new Chinese collectors has led ArtTactic to conclude that Chinese contemporary art volume in 2010 could approach 2007 pre-crisis levels.
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- Current Trend Shows That Chinese Contemporary Art Volume In 2010 Could Approach 2007 Levels
- Highlights of ArtTactic's latest report:
- substantially better Hong Kong and mainland Chinese auction results
- 53% of respondents believe the market will go up over the next 6 months
- a significant amount of optimism has re-entered the Chinese art market
- The speed of the recovery in the Chinese contemporary art market has accelerated in the first half of 2010
- Top 10 prices reveal the difference between domestic and international taste
- The Chinese contemporary art market currently consists of two parallel markets
- Sell-through rates at Sotheby's and Christie's Hong Kong have risen significantly
- Chinese contemporary artist confidence indicator stands at 60.1, up 14.4% from December 2009
- Zeng Fanzhi has moved from rank 18 to rank 2
- Ai Weiwei shares the top spot with Cai Guo-Qiang
- Comparisons to 2008 Survey
- Comparisons:
- Confidence Indicator
- 73 (Sep. 2010)
- down 8.3% from February 2009
- 71% having a positive view in September 2010
- Zeng Fanzhi's confidence indicator has risen dramatically, from 56 in February 2009 to 86.7 in September 2010
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