FEATURES ARCHIVE

Tell us about the current state of the 20th Century Chinese and Asian Contemporary Art markets.
Christie's Hong Kong sales of Asian Contemporary Art and Chinese 20th Century Art in 2009 have continued to defy the dip in the market since late 2008. The Autumn Evening and Day sales in these categories achieved a combined total of HK$389.3 million (US$50.1 million) which represents a 48% increase over the Autumn 2008 season. We are seeing the market continue to mature, with buyers becoming more sophisticated. This is especially true when looking at the collectors in Greater China and the rest of Asia who are fuelling the growth in this region’s art market and are becoming a strong force in our international sales. The contemporary art offerings this season saw active cross-category and cross-cultural buying, with Indian collectors bidding on Korean works, Indonesian clients snapping up Chinese works, all serving to strengthen and broaden this market. These results reinforce Christie’s strategy of presenting the diversity of Asian contemporary art in a single consolidated sale - a concept pioneered by this auction house in 2005.     

You will be visiting Paris and London in the next two weeks to source consignments for the Spring auctions. Why do you specifically source works from Europe?
Tracing the beginnings of modern Chinese art leads us back to the mid-1920s. At that time, the first group of painters were returning to China from Europe following participation in government-sponsored work-study programmes. This spurred a highly influential wave of artistic reform, led by such great figures as Lin Fengmian, Wu Guanzhong, Xu Beihong, Zao Wouki, Chu Teh Chun and Sanyu. Although many of these artists gained wider recognition later on in their careers, they paved the way for the future generation of Asian Contemporary artists such as Liu Ye, Nam June Paik and Yoshitomo Nara, whose works were featured in solo exhibitions throughout Europe in the 1990s.

Why do you think there is such a growing demand for Asian art?
The strengthening economy in Asia has led to a growing interest in the region from the global community. Contemporary Art, with its range of commentary, interpretation or criticism, can be considered a means of gaining a deeper understanding of this fascinating area. With the tremendous economic and cultural changes within Asia, we see a high level of wealth being generated. This affects not only one's lifestyle, interpretation of culture and of art, but it also significantly impacts one's ability and desire to own a piece of this current cultural phenomenon. Demand also arises from a growing awareness of art as a point of cultural pride and also as an alternative asset class. 

Are there any established or emerging artists you are watching out for in particular? Whose work causes the most excitement on an international platform?
Chinese Modern and Contemporary artists continue to be the focus. Works from pioneers and representative artists from each generation consistently feature in the top ten of each auction. These include Sanyu and Lin Fengmian from the 1st generation; Zao Wou-ki and Chu The-chun from the 2nd generation; Zeng Fanzhi from the post-1989 contemporary Chinese artists; and Liu Ye from the young emerging artists. In the Autumn 2009 auctions, works by Zao Wou-ki accounted for more than half of the top ten lots, led by 19-11-59 which sold for HK$30.3 million. In the Spring 2009 sales, his Nous Deux fetched HK$35.4 million, the second highest price for the artist following on the heels of the world record set in November 2008. Japanese and Korean Modern and Contemporary art are also areas worth watching. Most recently the Japanese-American artist, Masami Teraoka’s the Cloisters / Venus and Pope’s Workout sold for a record price of HK$4.8 million. Alongside Japanese art, Korean works continue to be a major component of the Asian Art market, with a unique and versatile mastery of different media and aesthetic qualities. Nam June Paik, the pioneer of a whole school of new media experimentation with his multi-media installations, continues to appeal to international collectors. His sculptural work Alexander the Great fetched HK$2.2 million last autumn.

What led you to become a specialist at Christie’s?
Christie’s actually approached me whilst I was working at a paintings dealer in Taiwan, my home country. I started working for Christie’s Hong Kong in 2001. Working here I continue to enjoy a career in a creative environment, particularly in these very dynamic and continuously changing times.  

Eric Chang will be visiting Paris from 5-10 February, and London from 11-13 February 2010. Contact us to obtain a complimentary market valuation of your Modern and Contemporary Asian Art, please do not hesitate to contact us to arrange an appointment.

Eric Chang
International Director, 20th Century Chinese Art & Asian Contemporary Art
acahk@christies.com
+852 2521 5396

Ruoh-Ling Keong
Head of Southeast Asian Modern and Contemporary Art
rkeong@christies.com
+65 6838 7209

Elodie Morel
emorel@christies.com
+33 1 40 76 84 16

CHRISTIE’S HONG KONG, SPRING AUCTIONS 2010
29-30 May 2010 - Chinese 20th Century Art & Asian Contemporary Art Evening Sale and Day Sales
30 May 2010 - Southeast Asian Modern & Contemporary Art