The oil painting market stepped into the era of value reflection

May 16, 2019

Doubt: Credibility Affects the Orderly Development of the Market In early February 2012, a report in the American fashion magazine “Vanity Fair” disclosed that the Qatari royal family purchased the French post-impressionist group from the Greek ship king for $250 million (about 1.6 billion) in 2011. The painter Cézanne’s oil painting "Playing Cards" has become the most expensive oil painting in history.

In recent years, the government has participated in the case of cultural and artistic construction and has made important achievements. It is none other than Qatar. The Qatari royal family has spent huge sums of money on the purchase of artworks from all over the world since 2005. The Princess of Qatar (Sheikha AL Mayassa Bint Hamad Bin Khalifa AL-Thani) is the daughter of the chief of Qatar and is currently the Qatar Museum Authority** and is responsible for Qatar’s cultural education. Under her promotion, Qatar’s art collections and exhibition activities have taken off and have played an important role on a global scale. According to statistics, Qatar intends to use cultural and artistic methods to pack Doha into a cultural capital of the Arab world. Between 2005 and April 2011, the United States and Britain’s cultural exports to Qatar continued to rise, during which time the United States reached approximately 428 million U.S. dollars. Britain has about 128 million pounds, including antiques and contemporary art. Many British and American families benefit from contemporary art. In December 2011, Chinese contemporary artist Cai Guoqiang was able to hold the first exhibition of contemporary artists since its establishment at the Arab Museum of Modern Art in Doha. It also depends on the support of the Princess of Qatar.

According to the data, the top ten global art auction prices in the known range are roughly as follows (outside of “Playing Card Player”): US abstract expressionist painter Pollock’s “No. 5, 1948” £99 million (approximately* (RMB 990 million), the American-American Abstract Expressionist painter Kuning's "Woman III," 97.5 million pounds (about 970 million yuan), Austrian symbolist Klimt's "Adele The portrait of Bloch Bauer was 95.2 million pounds (about 950 million U.S. dollars), and the French impressionist painter Renoir's "Galette Mills Dance Party" was 86.4 million pounds (about 8.6 billion yuan). The Dutch post-impressionist painter Van Gogh's works "The Portrait of Dr. Gartner" and "The Mailer Lu Lan" were sold for 91 million pounds (about 910 million yuan) and 67.7 million pounds (about ***). RMB 670 million), the Spanish cubist Picasso's “The Boy Who Takes a Pipe”, “Nude, Green Leaf and Bust,” “Dora Mare and the Cat” sold for 78.5 million pounds (about 780 million yuan). , 69.9 million pounds (about 700 million yuan) and 67 million pounds (about 670 million yuan).

After reading this set of data, we generally sigh: really expensive! When will Chinese art work reach this price point?

Immediately afterwards, we will "take it easy" to doubt the authenticity of these transaction prices!

Whether admitted or not, universal skepticism basically represents the current state of development of the Chinese art field and its stage: We are generally skeptical about the transaction of the Chinese art market. Full distrust means that the art market has gone through 20 years. However, it is still the same as the development process of socialism — it is still in its infancy, and how long will this period last? The prevailing argument is that we will still be in the early stages for quite a long time.

There must be signs at the primary stage. The phenomenon of non-standardization, counterfeiting, knowing and falsifying, and stakeholders’ hype is a label at this stage. This is an indisputable fact. From the relevant media reports, the authenticity of the work Challenges and disputes about the authenticity of transactions exist within the scope of any type of artwork. In the field of oil painting alone, the most famous ones in 2011 were Xu Beihong's fake painting “Jiang Biwei” and Zhang Xiaogang’s fake “Little Girl” in two cases. Other news related to well-known artists’ artefacts was even more numerous. innumerable. The artist Han Meilin (microblogging) stated that “Every year he goes to his residence to verify his identity,” Han Meilin’s paintings “have as many as hundreds of authentic collectors, but less than 3% are authentic.”

In such a market environment, it is difficult for us to have the courage to trust the Chinese art market without any doubts. In fact, it is difficult for us to believe that these trading behaviors that have repeatedly created astronomical prices in the Western market have been difficult to believe. The authenticity.

In fact, we do not have to be overly pessimistic! After all, the development of the market and the purification of the air require the participation and care of every stakeholder. Although there are more or less irregular trades in this way, the wheel of market development is unstoppable. What we need to do is to formulate suggestions and suggestions for the market's normative development, and make an objective and in-depth analysis, so that more people can realize the inadequacies of The future direction.

Visitors, in 2011, the Chinese market made important progress in revaluing early oil paintings and adjusting contemporary art: the value of early oil paintings was recognized by more and more collectors, and the auction transaction price was based on 2010. There has been a significant increase - the price of the masterpiece has exceeded 100 million yuan. This is a historic turning point. A large number of early oil painters who were left out of the market have received attention; the phenomenon of blind speculation in the contemporary art field has somewhat converged. The authors began to attach universal importance to the early works of contemporary artists. Their position in the market has gradually increased. The famous masterpieces, as well as those of the second and third artists blindly pushed up in previous years, gradually lost their market. The root-seeking and value re-evaluation of the universality of collectors presents a holistic regression trend, which is obviously a positive phenomenon for the forward development.

Root-seeking: Correct assessment of the value of early oil paintings The top ten global art trades mentioned above have one thing in common: they are all important representatives of the various art schools and art masters recognized by the art world. This has important implications for the collection of Chinese oil paintings.

The oil painting auction in the Chinese market has long neglected the value of the works of the early oil painters, that is, the auction period for contemporary art in recent years was in the period of adjustment, and early oil paintings were only of concern to collectors. The most outstanding performance of the early oil painting market was in 2011. Not only did the number of shots increase sharply, but the price of one-piece paintings also historically reached new heights—a breakthrough of 100 million yuan—and Chang Yu’s “Five Naked Women” in May 1950. In Hong Kong Raven Olympiad in Hong Kong, it captured HK$128.32 million. After the transaction, it has the reputation of being an important benchmark for the price of Chinese oil paintings to reach 100 million yuan.

Under the promotion of Hong Kong Sotheby's (microblogging), Christie's, Ravenel, Beijing China Guardian (Weibo), Beijing Hanhai, Beijing Weishi (Weibo) and other companies, the auction of early oil paintings in 2011 reached a historical scale. At the highest level, Chang Yu, Zhao Wuji, Zhu Dequn, Chen Chengbo, Liao Chichun, Zhu Xi and other masters frequently created high prices in the Hong Kong and Taiwan regions. Paintings by Xu Beihong, Yan Wenliang, Lin Fengmian, Liu Haisu, Guan Liang, Wu Guanzhong, Wu Zuoren and other early masters Often traded at high prices in the mainland market.

After China's Guardian set off an early stage of the oil painting in autumn 2010, the importance attached to the early oil paintings in the mainland has reached an unprecedented height, and the prices have increased rapidly. The three special shoots before and after the show clearly show the rising rhythm of the early oil painting market – the first opening in the autumn of 2010. The foundation--the pioneer of Chinese oil painting in the 20th century- had a total of 37 pieces of work, with a total turnover of 18,790,600 yuan. Only three paintings cost more than one million yuan, and Wu Guanzhong made 60.4 million yuan in 1959 for "Cockflower"; In the second spring of the year, there were 55 trades with 43 transactions, with a total turnover of 62.65 million yuan. The number of ultra-million paintings was increased to eight, Guan Liang was shot for 23 million in Shimen in 1980, and Wu Guanzhong was awarded the title of Jinggangshan Liujiaping in 1977. “11.5 million yuan. Autumn auction shot 60 of the third 60 transactions, the total transaction price hit a new high -1.38495 billion yuan, 17 pieces of work more than one million yuan in the work of more than 10 million yuan, Zao Wou-ki, "19 / 10/2001 "12.65 million yuan, Wu Guanzhong "to meet the general election" in 1961, 10.58 million yuan, Xu Beihong in 1939 for "Jenni ** portrait" photographed to 57.5 million yuan.

The rapid rise in market prices is mainly attributed to the leading luminaries, represented by Xu Beihong, Chang Yu, Lin Fengmian, Yan Wenliang, Guan Liang, Wu Guanzhong, Liu Haisu, etc. The price of Wu Guanzhong's oil paintings rose staggeringly last year: In 2010, Hanhai Spring in Beijing shot 57.12 million yuan. The “Yangtze River Map of the Yangtze River” was rolled up, and it was recorded in Beijing Yirong autumn auction to 149.5 million yuan, which was turned over one year. In 1975, “Mudu” was auctioned in Beijing in 2007 for 39.2 million yuan. Last year, the transaction price rose to 63.25 million yuan; in 2002 for the "Autumn House of Autumn," last year in Beijing Poly autumn pat to 74.75 million yuan.

The works of Chang Yu, Zao Wou-Ki and Chu Teh-Chung, who have long been active in the Hong Kong and Taiwan markets, began to flow to the mainland, and there was a high turnover in their works - Zhu Dequn made "Prudent" in 1997 and auctioned out 4.48 million in Beijing in the autumn of 2010. Yuan Yu, Chang Yu, 1950, "Fuzzy Blue Chrysanthemum," patted 34.5 million yuan in Beijing Poly autumn, Chang Yu 1930, "Foot leg horse," patted in Beijing when the spring of 155.25 million yuan; Zao Wouiji 1958- In 1959 as "untitled" in Beijing Poly autumn pat to 19.55 million.

Some experts pointed out that if the authenticity identification problem is well resolved, by contrast, the risk of early oil painting collection is significantly lower than contemporary art, especially the first-line masterpiece paintings and detailed, credible recording, collection heritage paintings, will Become a collector's search target. For collectors, grasping the breadth and depth of relevant early oil painters' literature will restrict their assessment of the value of early oil paintings. The deeper and broader the masters, the greater the chance of winning.

The industry’s active promotion of early oil paintings and the stimulation of high-priced deals in famous paintings stimulated the overall market for the early oil painting sector. The works of second-line masters also showed signs of rising. Auctions represented by China’s early Guardian oil paintings It played an important role in the exploration of the value of the early oil paintings in the Mainland and re-examined the history of Chinese oil paintings.

Regression: The early works of contemporary artists were hotly promoted The root-seeking phenomenon of early oil paintings lifted the overall price of famous paintings. Affected by this, the early paintings by famous contemporary artists in 2011 were also highly favored by collectors, and a wave of reversion came. The value of the early works of contemporary art masters influenced the market trend.

The most representative auction is the collection of the Ullens collection of Sotheby’s in Hong Kong: The first “The Collection of Ullens’ Important Contemporary Art: Dawning—Tracing the Source of Contemporary Chinese Art” instead of representing Ullens The combing of Chinese contemporary art collections is better regarded as an original representation of the early development of Chinese contemporary art. They truly record the inevitability and possibility of the early development of contemporary art. Today, those who have already stepped into the field have already emerged. Become a powerful group of contemporary art, and some have even become the master and banner of contemporary art. The reflection and examination of this important history will guide us to return to the thinking and assessment of the work itself, rediscover its cutting-edge, its value and role!

The paintings of the 42 artists on this special show embody their early explorations of contemporary art in many aspects. The 106 paintings featured oil painting as the main line, but they were widely involved in ink painting, pastel painting, drawing, printmaking, sculpture, photography, and installations. Photography, comprehensive materials, and so on, the only one shot finally, the total turnover of 427,229,925 Hong Kong dollars, 42 pieces of works exceeding 1 million in the price of more than 10 million, is the total auction price of contemporary art auction, turnover rate, The highest auction price for a single piece of work. The sales of works by Zhang Xiaogang, Zhang Peili, and Zhai Jianchao were particularly outstanding: Zhang Xiaogang's triple play of “Life and Love” in 1988 was shot to 79.06 million Hong Kong dollars, and Zhang Peili was shot at 23.03 million Hong Kong dollars for “X. Series III” in 1986. In 1985 as "two people under the light" shot to 18.58 million Hong Kong dollars.

The second “Autumn Changes in the Autumn Revolution—Review and Evolution of Contemporary Chinese Art” has brought the development time of contemporary art closer to the first decade of the 21st century. Many young artists have been included in the competition. Compared with the first game, Chen Hao and Cui Xiuwen have been added. (Wei Bo), Zhen Zhengjie, Hou Junming, Li Songsong, Li Tianbing, Liang Yuanyi, Lin Tianmiao, Lin Yilin, Liu Ye, Lu Shengzhong, Ma Liuming, Mao Zizi, Zeng Zaicai, Wang Jianwei, Wei Guangqing , Wu Shanzhuan, Xu Bing, Xue Song, and Zhou Chunya (microblogging) works by 20 artists, 90 works produced 84 pieces, total turnover was 132413000 yuan, 26 were worth more than 1 million yuan, of which 2 were over one thousand In ten thousand yuan, Liu Ye's 1996 "Qi Baishi Portrait" was 14.1 million Hong Kong dollars, and Zeng Fanzhi was the mask series N0.26 in 1998 for 20.26 million Hong Kong dollars.

Other companies' auctions of contemporary art last year were also the leading works of famous artists. Chen Danqing made the “Tibet Painting Series” in the year 1981 and “Three Entering the City” shot at RMB 23 million in Beijing Poly Spring Auctions, which was nearly five times higher than the transaction price of RMB 4.58 million at Beijing Huachen in November 2005; In the auction, Shang Yang's 1981 masterpiece "The Yellow River Boatman" was photographed to 31.625 million yuan, which was more than 14 times higher than the bid price of China's Guardian of 1.87 million yuan in May 2004; Zhou Chunya paid tribute to Van Gogh's "Shearing Man" in 1981. The early realistic painting "Shear Wool" was photographed in China's Jiade autumn auction to 30,475,000 yuan. This painting is Zhou Chunya's first creative period - a representative work of the Tibet theme series, which was published in the December issue of "The Fine Arts" magazine. In 1987, he was selected to participate in the “New York Chinese Contemporary Art Exhibition” and was selected as the cover of the exhibition. In November 1994, Chen Yifei, the highest price of the Chinese oil painting auction, was created in China’s Jiade in 1994 as “Mountain Wind”. Last year, the company made a new record high in the company's spring - 81.65 million yuan to become the most expensive contemporary art work of the year; Zeng Fanzhi made a self-portrait in 1996 in Hong Kong Christie's spring auction to 37.62 million Hong Kong dollars.

The realistic oil paintings in China that have a deep mass foundation have developed more rapidly in recent years. The representative “Beijing realistic painting school” initially had only 13 painters such as Ai Xuan, Yang Feiyun, and Wang Yidong, and Chen Yifei proposed to change its name to “China.” “Realistic School”, the painter quickly expanded to 30 people: Ai Xuan, Yang Feiyun, Wang Yidong, Chen Yanning, Xu Mangyao, He Duojun, Liu Kongxi, Shang Ding, Yuan Zhengyang, Guo Runwen, Wang Hongjian, Chao Ge, Zhang Li, Long Li You, Xia Xing, Li Shijin, Wang Yuqi, Xu Weixin, Zheng Yi, Weng Wei, Yan Dongwang, Pang Maoyi (Weibo), Leng Jun, Yin Xiong, Shi Liang, Li Guijun, Zhang Yibo, Zhu Chunlin, Wang Shaolun, and Chen Yifei. Under the influence of high painting prices such as Chen Yifei, Ai Xuan, Yang Feiyun, and Wang Yidong, the work of this school has become an important part of the Chinese mainland's oil painting market. The market continues to rise and the influence is growing. Chen Yifei's paintings have undoubtedly become an endorsement for this group of people. The price of 81.65 million yuan for "Mountain Wind" is the highest transaction price for realistic oil paintings. In 1984, He Daxuan and Ai Xuan participated in the Sixth Art Exhibition and their important work "The Third Generation" was patted in Baoli Autumn in Beijing last year to 28.75 million yuan, which became the most expensive paintings of the two artists. Yang Feiyun's two works last year broke the price of tens of millions of yuan: In 1996 as a "peer" in Duo Yunxuan spring shoot to 10.925 million yuan, in 2007 for "red" shot in Beijing Poly spring shoot to 11.5 million yuan.

Another group that cannot be ignored is that young artists born in the 1970s and 1980s have emerged in the auction market. Gao Yu, Wei Jia, Chen Ke, Chen Fei, Ouyang Chun, Wang Qishan, etc. Walking in the forefront, Wei Jia, Gao Qi, Chen Ke's exquisite work price has surpassed one million yuan, and Wei Jia made a record of RMB 2.207 million in 2008 when “Jiao Jing II” was auctioned in Beijing Hanhai Autumn 2010. The development of the art market has provided this generation of young artists with a convenient market opportunity and has been recognized by the market earlier. However, whether their paintings have a high collection value remains to be explored in the future by artists. There is a greater degree of risk. At this stage, the market is extremely lacking in their representative quality and affects the sustainable development of the market. The author thinks that it may be more appropriate to regard their paintings as artistic consumer goods. Nowadays, the works that are popular in the current market may well be eliminated in the future.