Poly Hong Kong: The potential of oil painting in the Mainland is high. Consumers are rising. Art auctions have not reached the peak.
Poly Hong Kong auction will hold a spring auction this week. Due to the economic environment, the number of auction items this year is 80% of the same period last year, but there are many focus auction items, including the late famous artist Wu Guanzhong’s painting “Guilin", with a valuation of 20-30 million. Hong Kong dollar. Zhang Yixiu, executive director of Poly Hong Kong, pointed out that optimistic about the mainland art auction market, especially with the highest potential for oil painting development, the bank plans to add other categories of auction items in the future, so as to increase market attention.
Zhang Yixiu: increasing the variety to meet demand
At present, among the various auction items in Poly Hong Kong, oil paintings account for the largest proportion of income; the highest gross profit margin is alcoholic, generally up to 4 times; on the customer side, half of them are Chinese and Hong Kong buyers, and Taiwan accounts for about 30%. Zhang Yixiu mentioned that with the rise of the overall domestic consumption power and the pursuit of artistic spiritual culture, he described the Chinese art auction market as “not the most vigorous”, and there is still much room for development in the future.
In 2016, Pauli Chun shot, Wu Guanzhong’s “Zhouzhuang" hit a record price of HK$236 million. Zhang Yixiu believes that it is difficult to break through this time, but he is full of confidence in the prospects of the oil painting auction market, describing the development of health, because the oil painting collectors in the past have been eagerly sought after. Chinese contemporary art has caused the overall price to be speculated. The situation is like the French Bordeaux red wine in the early years. However, in recent years, the outside world has begun to accept and appreciate other national art, such as oil paintings in Japan, and the market operation has been slowly adjusted.
After the 80s and 90s, young collectors emerged, many of them were “Haigui" (who had returned to China after studying abroad), depending on the collection of oil paintings as a fashion trend. “The (oil painting) threshold is low, it is easy to cultivate new collections. Groups, unlike antiques and calligraphy, require a lot of research, but in the final analysis, they should be interested, not to pursue the trend, or look at the collection, and the mood is not good."
The global economic slowdown is only short-lived
Recently, the global economy is uncertain. Zhang Yixiu admits that the atmosphere of the art auction market is relatively conservative, but I believe it is only temporary. “(Growth) will slow down, but it will not shrink on a large scale due to the temporary downturn, just as the market is high or low. There are a number of visitors; like the auction market, the real top-level collectors still need to buy things; the bank plans to add other categories of auction items in the future, but there is no established framework.
Poly Spring Auction was held from the 31st of this month to the 2nd of next month. A number of artists were exhibited. The oil paintings include Wu Guanzhong, Wu Dayu, Lin Shouyu, Fujita Yuji, etc. Chinese paintings and calligraphy include Zheng Banqiao and Xu Beihong. Qianlong blue and white glaze in the red sea water cloud dragon pattern moon bottle, pink glaze relief “children generation" figure cucurbit bottle and other antiques, valued more than 20 million yuan.