Word: galleryful
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As he moves from one gallery to the next, checking on works he has already booked and buying new ones, Zhang is treated like royalty. "That's mine," he says at a photo gallery, pointing to a picture of a man's back that has been painted with a classical...
If the incestuous, trend-conscious world of international art collectors and the hot money of the roughly 500 new millionaires that China's boom has thrown up come together, it could push prices for Chinese art to even more dizzying levels. "You are already seeing works that sold for a...
There may not yet be any discerning Chinese collectors in the model of the influential Saatchi. But that's unlikely to affect the demand for modern Chinese art, since many of the newly minted millionaires simply don't have anywhere else to put their cash. "It's what I call...
Such speculative interest could evaporate overnight if the market cools, of course. But that's where the non-Chinese buyers come in. The international contemporary-art market is highly cyclical--many would say current prices are at all-time highs--but there remains a core group of wealthy art collectors...
For the young artists just breaking into the scene, such images have little resonance, except as tools to raise their prices, says gallery director Zhao. "To them it's like being in manufacturing--they are cranking out a commodity," he says with a sigh. "But then, at prices like these...