Last year, despite various uncertainties such as high interest rates and inflation, China remained the world's second-largest art market, increasing its share to 19% and jumping to the number one auction market.
In April, when the grass grows and the warbler flies, the collection of spring auctions of various auction houses in 2024 has been steadily advancing. Compared with last year, what kind of situation will this year's auction market usher in? Will everything be business as usual, or will it be difficult? Combined with the current collection situation, let's take a look at the views of the auction practitioners who are fighting on the front line, and get a sense of the trend of this year's auction market in advance. (Interviewees are listed in alphabetical order of last name)
Lu Fengchuan: Stability is the starting point of all good things
Overall, stability is the basic trend this year. The Chinese art auction market has been steadily landing in recent years, coping with various unfavorable factors, and the stability of the market has been further enhanced. Specifically, the comprehensive categories continue to develop, some special categories have been deepened and subdivided, and it is unlikely that there will be a big rise or fall in the future. The comprehensive international market is also the same trend, as long as it is stable, it is a good thing.
This year marks the 20th anniversary of Xiling Auction, and the collection of lots is an important part of the celebration, which has received active support from new and old collectors. There are two planning directions for the solicitation:
First, it is rooted in Jiangsu, Zhejiang and Shanghai, that is, the cultural context of Jiangnan. In the past two years, we have planned a series of special auctions of Jinling School, Songjiang and Xin'an School, and on the occasion of the 20th anniversary of the establishment of the company, we will return to the local area, highlight the temperament of Jiangnan, and expand from Zhejiang School of calligraphy and painting to scholarly utensils, showing the unique representative characteristics of Jiangsu and Zhejiang in various categories.
Second, this year coincides with the 120th anniversary of the establishment of the Xiling Seal Society, and we will launch a special theme or special session of gold and stone culture, which is different from the conventional single category setting, and the new gold and stone auction will break the restrictions of categories and elevate the gold and stone culture to the spirit of ancient Chinese literati.
In recent years, collectors have adjusted their budgets, mainly due to changes in their purchasing mentality. Just like when people shop, if they walk into a shopping mall and it is deserted, they will rationally buy and choose repeatedly, and if it is a full shopping mall, people around them are rushing to buy, and they will naturally be impulsive. The market adjustment period tests the resilience of an auction company, even if the market is not optimistic, we must be optimistic.
In the overall planning, there are three points that we attach great importance to: first, comprehensive categories. In the future, auction houses may be polarized, with integrated auction companies and single-category auction companies forming two patterns. We believe that ensuring that comprehensive categories are the easiest to improve the performance of the entire auction company, and the conversion rate is the highest. Second, deepen academic development. To put it another way, that is, to optimize the allocation of resources. When the market is good, as long as a lot is auctioned, it will have a good result. Where you place it now, how you mix it, will affect the final result. Nowadays, it is no longer a market for selling raw materials, but a feast to be cooked, and how to combine the ingredients and match what kind of heat determines whether a special topic or special session can be successful. Therefore, only deep academic cultivation can have the long-term nature of the market. Third, take root in the local area. In recent years, we have launched a number of Jiangsu, Zhejiang and Shanghai themes, which are actually consciously rooted in locality. I think that in the future, there will be geographically differentiated competition between auction companies, which may not be fully reflected yet. Collectors in each region have their own traditional culture and consumption habits, and the auction companies must launch lots or special sales, and even marketing methods must be in line with the temperament of the region. First deeply cultivate the local area, reflect the locality, and then radiate a wider geographical scope in the next step. Li Xin: Survive the Variables and Seek BreakthroughsAmong the comprehensive auction companies, Yingyi Auction focuses on the niche category of image auction. Over the years, we have established a collection system and a lot of collection contexts by combing through the images. We can see that the video art market today is a phenomenon in the whole art market, everyone thinks that it is a fragrant bait, and many big auction houses have also added this section. Undoubtedly, it also reflects the significant increase in the acceptance of photography and video art media by Chinese audiences and the art market.
Xu Beihong, "Horse", 1940, Silver salt paper base, signed, seal, Yingyi, 2024 Spring Auction Collection
In this year's market environment, we may be more likely to stick to it first, survive in this variable, not be eliminated, and then seek a breakthrough in the variable. In addition to the excavation of historical images, it is also a top priority in the contemporary image collection market. As an important medium of contemporary art, photography needs to be truly recognized and understood by everyone in China. Photography is a product of science and technology, and the progress of any imaging technology promotes the development of photographic art, and many new art forms are also based on images, and it can be expected that the market share of image artworks will be increasing. We have been paying attention to AI and NFT digital art, and last year, the Yingyi auction platform was the first time to try to auction AI imaging works, which is the first of its kind in China. In the future, there may be a category of AI imaging.
Lang Jingshan, "Human Series: Transporting Wood", 1960-1983, silver salt paper base, signature, seal
Selected Collections from the 2024 Spring Auction of Shadow Easy
In the past ten years, although the collection of Chinese video art has developed rapidly, there are still many problems, such as the lack of corresponding historical foundation, the lack of a collection system, the lack of important photography museums and art galleries, and the lack of market recognition of some famous masterpieces. In the past two years, we have been silently building our own ecological chain, such as Yingyi Art Space, mining and representing contemporary video works of young artists, and in the future, Yingyi will select partners at home and abroad to form an alliance of art spaces or photography galleries, and promote artists' works to the domestic and foreign markets through inter-institutional interaction. After their works are exhibited in the space and the market matures, they can directly enter the Yingyi auction platform.
After the two sessions, the state issued a series of new policies to promote the development of the art market, which will bring more variables to our domestic auction houses, the most important thing is to increase the competitive environment, in my opinion, this is a good thing, I have always believed that the market needs competition, there is no progress without competition, the entry of international capital or companies can bring us more international vision, promote the internationalization of Chinese images, and continue to hone ourselves in the competition, and promote the healthy development of the industry.
Tian Heng: With a normal heart, it is a more normal work to do a more subdivided work collection, and there will be some new adjustments in the specific content of Yongle this year. First of all, we will communicate more with collectors and select lots in a more targeted manner to meet the current market trends and collectors' needs; secondly, we will further deepen the market and carry out more in-depth segmentation of the market, and there will be some predictions or attempts on future trends in terms of content; thirdly, we will have a more appropriate volume and scale in terms of the number of lots.
In terms of the content of the solicitation, we will continue our previous strategy, taking into account the integrity of the type, style and price of the lots, while also focusing on it.
Judging from the current market structure, the "post-50s", "post-60s" artists and even the predecessors of the early 20th century are still the mainstay of the entire market. For this section, we hope to present more clues based on the observation and research of the context of art history. As the most active and demanded "Chinese New Painting" sector in the market, we strive to explore and inject more new forces into the market with a forward-looking vision and in-depth and systematic combing. In addition, as an open auction platform, Yongle places great emphasis on international vision and two-way participation in both its strategy and operations, so there will still be first-class Western art masterpieces added to our spring auction sequence this season.
Chen Ke "Matador"
Yongle 2023 Spring Auction
Transaction price: 9.085 million yuan
Set a new record for the artist's personal auction
Balthus "Cat in the Mirror III"
Yongle 2021 Autumn Auction
Transaction price: 167 million yuan, setting a record for the highest price of an artist's public auction and the highest price for a Western artwork in the mainland.
赵无极《04.01.79》
The world premiere of Yongle 2020
Transaction price: 175 million yuan
Set a record for the auction of a single work by an artist, and set a record for the auction of an artist's work in the Mainland
Although Yongle is a young company, but the core business experts have more than 10 years of experience, no matter what kind of cycle the market is in, what kind of environment, we have a normal heart, take the initiative to adapt, continue to focus on our work, especially the grasp and processing of details, I think the market will give the most real feedback.
Wu Guanzhong's "Jialing River" Yongle 2023 Autumn Auction Transaction price: 21.275 million yuan Wang Li: Diversification attempt, steady development in uncertaintyLast year was the first year for the art market to resume normal operation after the epidemic, although the auction market as a whole is on the rise, but due to many uncertainties in the external economic environment, internal factors such as the iteration of industry resources and funds, changes in aesthetics and value systems, etc., this year, auction houses are still facing multiple pressures such as the adjustment of the direction of corporate operations, the difficulty of collecting high-end lots, and the contradiction between market supply and demand. Still, we can't be deterred by a difficult situation. Huayi International's Spring Auction Collection is still ongoing, bringing dozens of categories in seven sections: Chinese calligraphy and painting, porcelain, jade, handicrafts, modern and contemporary art, famous wines, aged tea and health, stamps and coins, rare books, jewelry, clocks and watches, and dozens of categories to collect invitations from Tibetan friends. Accumulate and adapt in a timely manner.
Sanyu "Yellow Chrysanthemum on Red Background"
Huayi International 2020 Beijing Autumn Auction
Transaction price: 81.65 million yuan
Since the beginning of the year, we can see that major auction houses have done their best to cope with the current complex economic and market environment. Therefore, although we have coped with great challenges, we can also deeply feel the new energy of the positive development of the market.
At the same time, we will carry out more flexible planning on the number of auctions, and explore the market in the form of "large auction + small and medium auction + special auction + online auction". In addition, as one of the important growth points of the current auction house, Holly's Space will be restarted this year, enabling auctions to explore independent business models and make more attempts in diversified exhibitions, events and private negotiations. All in all, we should develop steadily in the midst of uncertainty and strive to explore new in the midst of integrity and integrity.
Zhang Daqian, 1953, "Amazing Talent"
Huayi International 2019 Hong Kong Spring Auction
Transaction price: HK$96.76 million
Xu Xiwen: We still have to fight a tough battle this year. No matter what the external environment is, first of all, we must do our best to respond to all changes. When the environment is poor, you should do more bright things. First, open source, is to constantly open up new areas, this year's spring auction advocates a concept of slow life, to create some small thematic auctions; constantly to tap the resources and raw goods of the family's old collection, we have been working in this direction for ten years, this year's spring auction still has a relatively strong academic special session to attract the eyes of the market; second, to reduce expenditure, save expenses and increase profits. This year, the permanent special setting is still the same, but the number of lots will be more accurately grasped and more refined.
Xu Beihong "Eagles Flying Wildly" Guangdong Chongzheng 2023 Autumn Auction
Transaction price: 9.315 million yuan
Zhang Xueliang "Letter to Zi Weng One Pass and Two Openings"
Guangdong Chongzheng 2023 Autumn Auction Habitable Room Tibetan Letter Document (2)
Sold price: 172,500
In fact, the current art market is gradually returning to the origin of art collection, and academic-led collections are more valuable and can better reflect the true meaning of collecting, so from this point of view, it is still a good time to collect. Today's environment is not necessarily a bad thing for our practitioners themselves, and knowing how to navigate a complex environment will be even more good when the market is better in the future.
Zhou Shuqiao's "Outline of the Eye" Guangdong Chongzheng 2023 Autumn Auction Transaction price: 575,000 yuan [Copyright Notice] The original content of this statement published on WeChat is exclusive and original to "Collection and Auction", and may not be reproduced and used without authorization.