1. Decree No. 56 of the Ministry of Culture of the People's Republic of China was officially implemented in the art market
The asset size of domestic art collections is about equal to the total amount of real estate, about 300 trillion yuan. With the implementation of Decree No. 56 of the Ministry of Culture of the People's Republic of China, the art market will be financially financialized. Massive works of art become financial assets, which are included in corporate capital and injected into listed companies. Undoubtedly, art collections are financially financialized, and a large number of collectors will usher in spring.
Second, the main form of capitalization of art financialization
There are also several main forms of art financialization: auction, securities, insurance, trust, fund, pawn, pledge. Previously, the situation in the domestic art financial market was that there were operational difficulties in the operation of auction, pawning and pledge, especially in the process of appraisal, valuation, custody and realization of artworks. With the continuous expansion of China's art trading market, in recent years, with the help of financial tools and means, art is being rapidly financialized in various ways, art banks, art funds and trust investments, art mortgages and mortgages, art property rights transactions, art securitization transactions... Art is an "asset" that is gradually gaining popularity and recognition.
The Measures for the Registration of Mortgages of Movable Property, which came into effect on April 20, make works of art one of the legally mortgaged movable property after real estate, stock finance, automobiles, gold jewelry, and works of art become veritable assets.
Third, attempts are being made throughout the country to register movable art property
Registration of movable art is being attempted throughout the country. Beijing became the first pilot city in China to carry out a unified registration system for movable property guarantees; since then, an art center in Shanghai has taken the lead in exploring and creating an art registration system in the country, and the Shanghai Intellectual Property Park will issue genuine "identity cards" after multi-procedure and multi-element registration and confirmation of works and artists.
Shaanxi has set up the Shaanxi Cultural and Artistic Works Judicial Appraisal Center for the registration of works of art and cultural relics and antiques, which is a professional appraisal institution approved by the Shaanxi Provincial Department of Justice and filed by the Ministry of Justice of the People's Republic of China to carry out the judicial appraisal of cultural artworks for the society. Shenzhen, Zhengzhou, Luoyang, Taiyuan and other cities have also piloted the registration of movable property of cultural and artistic works, the purpose of which is to open up the way to monetize according to the needs of the market situation.
From the judicial appraisal of works of art to the registration of movable art in various places, and then to the promulgation of the "Measures for the Unified Registration of Movable Property and Rights Guarantees", it can be seen that the government's determination to financialize the art market also means that the collection and sale of art works will enter a new stage.
4. How to realize the transaction after the art is registered as a financial movable property?
Art finance is the transformation of works of art into financial instruments, and the financial management of individuals and institutions is incorporated into financial assets. Its main forms are:
1. Art property rights transactions;
2. Art Fund;
3. Art Bank and Trust;
4. Art mortgage and mortgage
5. Art rental, etc. At present, the mainstream of the market are securitized art property transactions and private art funds.
Fifth, the "financialization of the art market" has now promoted the prosperity of the market
The role of money in promoting the field of art is undeniable. The rational operation of the economic level will play a huge role in promoting the development of the art market.
Financial capital not only enters the art auction market, but also financial capital represented by banks, trusts and funds intervenes in the art field, and various art wealth management products and art-based financial products frequently appear and emerge in an endless stream, which has become a significant feature of today's Chinese art market and promotes the prosperity of the financialization of the art market.