Long-term Value - The Big Picture of the Art Market

Author: Zhang Zhixiong / Country: Mainland China
Publisher:
Publishing Date: 2006-06-01
Features: Zhang Zhixiong, a renowned financial and economic writer and editor-in-chief of Value magazine. This collection is the crystallization of the author's years of reflection on the art market, with every word and sentence embodying his deep passion, keen observation, and rational analysis of the art market. The book conducts in-depth research on the classification of information about Chinese art, systematically introduces the development and specific trends of the Chinese art market, and observes and describes the operation and transactions of the art market from multiple perspectives. The most captivating part of the book is the investment analysis of Chinese calligraphy and painting, and the mysterious insights into identifying genuine and counterfeit works will leave readers eager to explore and savor. As the author states, this book is like his backyard—entering this garden, following the exquisite images and elegant prose, will undoubtedly enrich the readers.
"In troubled times, gold is valuable; in prosperous times, antiques shine." Gentlemen, to understand the grand trends of the art market, read this book and discover it all!
This collection is the crystallization of the author's years of reflection on the art market, with every word and sentence embodying his deep passion for the art market. The book is divided into three parts:
Part 1: Market Analysis primarily provides a systematic introduction to the development and specific trends of the Chinese art market, observing and describing the operation and transactions of the art market from multiple perspectives.
Part 2: Calligraphy and Painting Investment offers an in-depth analysis of Chinese calligraphy and painting investment and elaborates on the mysteries of identifying genuine and counterfeit works.
Part 3: Spiritual Observation describes the author's insights into Chinese art, spanning tens of thousands of words. Though seemingly effortless, it is a summary of the author's keen observations over the past decade.
The book is written beautifully and features exquisite images, combining knowledge, aesthetics, and entertainment, making it a worthwhile read.
Jade and Jadeite: The bi disks used for offerings to heaven and the cong tubes for offerings to the earth were believed to symbolize the "heavenly pillar" totem, representing the unity of heaven and humanity. The other four vessels in the "Six Jades" (used for offerings to the east, west, south, and north—qi, hupu, zhang, and huan) were ceremonial objects. The warm and gentle color and texture of jade also symbolize the personification and moralization of the East, and its practicality as a pendant or decorative piece make it an important investment in the art market of Chinese-speaking regions.
Jade has various classifications and interpretations. For example, one view holds that beautiful stones are jade. Ancient jades, such as those from the Liangzhu, Xia, Shang, and Zhou dynasties, were somewhat similar to hornblende (a type of "jade-like" stone or rock, sometimes referred to as "Eastern jade"). There is also a distinction between "soft jade" and "hard jade." "Soft jade" is the mainstream type, found near the Kunlun Mountains (especially in Hetian, Xinjiang), and belongs to the hornblende family. Its colors are primarily yellow, white, green, and gray, with a hardness of 5.5 to 6.5. Generally, white and green jades are harder, while yellow jade is softer.
In the early Qing Dynasty, after Wu Sangui entered Myanmar, the "hard jade" produced in that region also entered China. Among these pyroxene-based jades, the most famous is jadeite, though they are often categorized alongside diamonds and other gemstones.
When examining a piece of jade, one should consider its texture, color, (intrinsic color changes due to prolonged burial and exposure to various substances and temperature variations), carving, age, and shape. Yellow jade has always been highly valued, but white jade is currently in great demand in the market. Although mutton-fat white jade may not be the best type of jade, its name, like "Litchi Frost" in Shoushan stone, evokes a sense of wonder. The degree of whiteness is easily comparable, making its price higher.
(intrinsic color changes) occurs when jade is buried in the earth for a long time, undergoing various color transformations due to erosion, temperature fluctuations, and other factors. Whether the (intrinsic color changes) are interesting or the colors subtle greatly affects the value of the jade. Examples of (intrinsic color changes) include old earth red, mercury (intrinsic color changes), yellow incense (intrinsic color changes), and brown-red (intrinsic color changes), among others.
From current auction trends, the prices of jade artifacts are highest at both ends: ancient jade (Hongshan culture) and Qing Dynasty jade (especially from the reign of Emperor Qianlong) are particularly valuable.
The Hongshan culture dates back 5,000–6,000 years, and its jade artifacts, such as the jade dragon and jade pig-dragon, hold significant historical value. Examples include the cubic pig-faced dragon (2.64 million yuan, December 11, 2000, Beijing Hanhai), the jade dragon-shaped hook (2.53 million yuan, November 15, 1996, Beijing Hanhai), and the jade carved sun god (2.42 million yuan, November 15, 1996, Beijing Hanhai). In contrast, jade artifacts from the Longshan culture (4,000–4,600 years ago) are generally valued at around ten million yuan.
During the reign of Emperor Qianlong, who had a deep love for jade, Chinese jade craftsmanship reached its peak. Examples include the Qing Dynasty white jade orchid-shaped, auspicious longevity-patterned, double-ear, four-legged incense burner (21.1 million Hong Kong dollars, October 30, 1998, Hong Kong Sotheby's) and the Qing Dynasty white jade carved Sixteen Arhats mountain (90.2 million Hong Kong dollars, October 26, 2003, Hong Kong Sotheby's).
A white jade pot from the mid-Qing Dynasty sold for 1.1 million yuan on November 15, 1996, in Beijing Hanhai. Eight years later, it reappeared at the October 2004 Hong Kong Sotheby's auction and sold for 6.782 million Hong Kong dollars, a nearly sixfold increase.
Qing Dynasty jadeite is also highly valued, such as the Taoist patterned, beast-footed, double-ear, auspicious belly-mounted square tripod (5.324 million Hong Kong dollars, May 2, 2000, Hong Kong Sotheby's), the jade Guanyin from Beijing Hanhai (4.84 million yuan, June 30, 1996, Beijing Hanhai), and the jade floral pendant from China (2.09 million yuan, October 9, 1995, China).
Modern jadeite also commands high prices, such as the Chang'e Flying to the Moon created by master craftsman Wang Shusen, which sold for 5.5 million yuan at the Beijing Hanhai auction on November 22, 2004, a remarkable achievement.
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