China has overtaken the U.S. as the world’s largest art and antiques market. Isn’t there anything that China is not the biggest anymore? These findings were based on both auction and dealer sales according to the organizers of the world’s largest antique fair, the European Fine Art Fair, to be held in the southern city of Maastricht, in the Netherlands.
I’m not sure how they gather all of these statistics, but this particular report came from “Auction Central News.” But there were several other reports on the web about this. According to the report, in 2011 China’s share of the art and antiques market was 30%, edging out the United States, which had a 29% share. The year before China had moved into second place, moving ahead of Britain, which was third in 2011 with 22%.
If this was isolated to the world of art and antiques, it would be one thing, but this seems to be a reflection of the world’s economic trend. The article went on to say, “the report, compiled by Claire McAndrew, a cultural economist specializing in the fine and decorative art market, called the development “perhaps one of the most fundamental and important changes in the last 50 years.”
I read this same basic report on at least five different sites, so it was getting a lot of play on the internet. McAndrew went on to say that the art and antique business has recovered significantly over the last two years after those horrible years of 2008-2009. We can personally testify to these hard times as we were forced to close our antique store in Dallas at the end of 2009, which we launched in the late 80’s. The antiques market never fully recovered after 9/11. I guess it is ironic that the owner of the building we were leasing was Chinese, and he was raising our rent while others in the neighbourhood were lowering rent for their tenants because of the tough economy.
China’s dominance reflects the vibrant economy in China and the Chinese investor’s love of fine art. They saw art as a substitute investment for the ailing stocks and property values. I know when we were last in England in 2009, the Chinese were beginning to be big buyers of antiques there. Here is a link to the entire article I read:
http://acn.liveauctioneers.com/index.php/features/shows-events/6839-eyes-on-china-as-worlds-biggest-antiques-fair-opens/.
A separate issue, but on the subject of Chinese antiques, beware of Chinese reproductions in antique furniture and porcelain. We saw a “French” dining table that was reproduced in China. Until the owner of the warehouse told us it was a reproduction, we were fooled. He pointed out a couple of ways you could tell, but these reproductions are far superior to others. I have seen some “Japanese Imari” from China that I doubt the authenticity. I just wanted to make you aware so you can be careful of your purchases.
Unfortunately, with the current economic conditions, I see this trend continuing for the foreseeable future. China might even get a larger share of the art and antiques market in the coming years.
Related Articles
- Flea Market Flip Review: I just watched a new program, “Flea Market Flipped” on HGTV. The show is hosted by Lara Spencer, an anchor on “Goo…
- Antique Silver Being Melted Down: With the rising prices of metals, many people are selling their silver as a means of making money. The combination of a …
- Storage Wars Texas Review: “Storage Wars Texas,” from A&E is my least favorite of the reality shows based around storage auctions. This comes fro…
- $395,000 Worth of Antiques Found in Hoarder’s Council Flat: This has to be every lover of antiques fantasy find, $395,000 worth of antiques and art found in a hoarder’s council f…
- Round Top Sring Shows, Go Green and See Blue: If you have never attended the spring Round Top Antiques Week, you have short changed yourself. Especially this spring, …
- Some ‘Antiques’ Are Not as Old as They Look: I just read an interesting article about antique reproductions in China. The article came from the China Daily, which sh…
- Antique Auction News: There has been an increased interest in Chinese rhinoceros horn cups after the recent record setting estimate for a grou…
- Palm Beach Jewelry, Art and Antiques Show: I have heard about the Palm Beach Jewelry, Art & Antiques Show for years. I don’t know if I will ever be able to attend,…
- How the Economy Affects Antiques?: With the present economy, you might wonder how does the economy affect antiques. Does the antiques business suffer more …
- Auction Hunters Review: “Auction Hunters” is another of the growing number of reality shows based on auctions of storage units. This one is …
- Should There Be a National Antiques Week?: I read a recent article discussing why there should be a National Antiques Week. Although I can see many benefits of a n…
- Antique Week In Nashville: My wife and I spent a fun filled two days of antique shopping in Nashville at the three shows that take place during ant…
- Cajun Pawn Stars Review: If you have not seen “Cajun Pawn Stars” on the History Channel on Sunday night 10/9c, you need to check it out. They…
- Hardcore Pawn: “Hardcore Pawn” is not as well known as the more popular “Pawn Stars”, but it is more like the thousands of pawn sho…
- Storage Wars: Storage Wars was the first of what has turned out to be several reality shows about people bidding on the contents of st…
- Pawn Stars: Pawn Stars in one of the biggest hits on cable television. The four stars, the son, father, and grandfather, plus the so…
- What My Antique Is Worth: I just recently read an article by Dr. Lori (no first name given) about being careful about using the internet to find w…
- Veteran’s Day Auction: The Jim Norman Annual Veteran’s Day Auction was held in the small northern Alabama town of Hartselle, Alabama. You wou…
- Top 5 Antiques Price Guides: I am going to rank the top 5 antiques price guides and tell you why I have ranked them in this order. If you are an anti…
- American Pickers: Unless you have been hiding under a rock the last couple of years, you are familiar with “American Pickers”, the wil…
- September Antique Shows and Markets: September is a great month for antique shows and markets. The weather is beginning to change and it is time to go out an…
- American Pickers Mike Opens Store In Nashville: The American Pickers Mike Wolfe has opened a new store in Nashville. The original Antique Archaeology store in LeClaire,…
- Picker Sisters: There is a new TV program on Lifetime on Tuesday nights called “Picker Sisters“. It is an enjoyable twist on the ver…
- It’s Worth What: “It’s Worth What?” is a new television program with its debut tonight, July 19th, at 8PM EST