Why are Prices for Chinese Art Prints Going Up?
You may have read in the press about spectacular auction record sales at Sothebys or Christies and other international auction houses for contemporary Chinese art. The latest record stands at USD 4.96 million for a painting by Zhang Xiaogang titled Family Portrait. These mind-boggling results are achieved in Hong Kong and New York. Starting in 2008, auction houses like Sothebys and Christies will to our knowledge be allowed to open branches in mainland China. Modern Chinese art prints did not have a commercial market for years – not in China and not outside of China. The development of the art market for contemporary Chinese prints has not been parallel to the development of the market for paintings and sculptures. First of all, this market seems to develop with a time-lag. And secondly, it is not the demand from Western countries that now drives up prices. The major demand comes from the Chinese market itself. More and more Chinese collect art prints. Many believe that it is a very go
