For 'Asian Art in London'. which covers the glorious past and glittering present of the region's dynamic arts spectrum, leading galleries arranged special shows with works from China, Japan, Korea, Central Asia and India. The 10-day event celebrated Asia's ceramics, painting, furniture, sculpture, textiles, metalwork, jewelry and manuscripts.
In parallel, Bonhams and Christie's conducted a series of auctions. Sotheby's held a Chinese ceramics and artworks sale, while Woolley & Wallis exhibited in London selections from Asian auctions in its salesrooms in Salisbury. In conjunction, a number of Asian-related exhibits were on view at museums and other top cultural institutions.
Asian Art in London has reported impressive sales and a throbbing atmosphere this November. The event is in its 14th year and has continued to assert itself as a prime fixture on the international calendar. Inviting dealers from across the world to take part, it has witnessed a surge of international interest; from curators, buyers and collectors alike.
There were encouraging sales within days of opening, Eskenazi sold elegant pieces of Chinese objects at prices ranging from £40,000 to well over £1million. Simon Ray Indian & Islamic Works of Art also reported good attendance and sales, including a Jade Ram's Head Dagger, an Ivory Ceremonial Dagger, a painting of an Elephant Frame for Fireworks at prices ranging from £4,500 to £250,000.
Ben Janssens Oriental Art sold most pieces from the exhibit within the first few days. A Chinese collector bought 18th century jade table screen for a price in the range of £350,000. An UK collector got a rare lacquer brush from the 16th century at £25,000. Vanderven & Vanderven reported excellent business.
Lively bidding occurred throughout the auctions with record prices being reached. Christie's Asian sales fetched a combined total of £28.6 million. New records were set at Bonhams, raising £4.6 million.
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Exciting news but prices for certain 18th century jade carvings have been going through the roof for sometime now! Due mainly to the wealthy Chinese investing so heavily in jade.
ReplyDeleteThese Chinese are regarding jade as an alternative investment commodity. As most of the usual forms of investment, currencies and property have all proved so precarious, perhaps these successful millionaires are being very shrewd!
I do not know if they have been influenced by the huge increase in the raw material prices. Because over the last ten years, whilst gold has increased by about 3 times, the best Hetian jade raw material has increased by 100 times!
As a collector (who helped create ‘The Cohen Collection’) it is apparent that non-Chinese collectors have very different views about how to value 18th century jade. Carvings that make such clever use of natural flaws in the stone, or that use coloured inclusions so brilliantly are not so highly valued by these Chinese buyers, not nearly as much as carvings in pure white jade!
Considering values, this is where we older collectors are now really confounded. Because if we consider a well carved, good quality pure white 18th century jade carving, that would normally have sold for somewhere around our expected highest value, in any auction these days, this same piece will now probably sell for anything from 4 to 8 times that figure, to a Chinese investor! Is it possible that in time these buyers will eventually also value the wonderful craftsmanship that most of us as collectors appreciate and love?