The following Q&A appeared in Art+Auction’s August issue, which profiles the world’s top auction houses of 2016. ARTINFO will be publishing the articles from this issue over the next few days. Click here to see related stories from the issue. To find all our coverage of the 250 Best Auction Houses Worldwide, as well as ARTINFO’s top picks for the best in visual arts, architecture and design, performing arts, lifestyle, and culture and travel, visit our Top Lists page at blouinartinfo.com/toplists.China GuardianHeadquarters: BeijingHu YanyanManaging Director and CEOHu, with a background in the study of cultural relics and museum management in China, joined China Guardian in 1993. She was instrumental in the creation of its Classical Chinese painting and calligraphy department in 1998, and its contemporary Chinese ink painting department in 2006. Hu spoke with Art+Auction about the Chinese art market, and China Guardian’s top-player status in these two categories.How does China’s art market compare with those of its Asian neighbors?In Asia, Beijing and Hong Kong are the two main centers for art auctions, followed by Shanghai and Tokyo. Having different scales, each auction company has its own particular strengths. Our auctions in Beijing attract almost exclusively Chinese collectors, while our sales in Hong Kong tend to attract buyers from Hong Kong, Taiwan, Singapore, other Asian countries and regions, as well as the Western countries.Has the recent slowdown in the Chinese economy had an impact on your sales results?Despite all the uncertainty in the marketplace, our 2016 spring auctions concluded with a total of rmb2.19 billion ($296.5 million) in sales, an increase of 16.8 percent over last year. Within that figure, we saw strong growth in Classical Chinese painting and calligraphy, which increased by 83 percent. There has been a stable demand for modern calligraphic works and an increasing desire for ancient ones. Among our best-performing lots this past spring was a rare-to-market work by the celebrated Song Dynasty calligrapher Zeng Gong, Jushi in Regular Script, which sold for a category record of rmb207 million ($32 million). Chinese 20th-century art and contemporary art has grown by about 57 percent, year over year, while Buddhist bronze figurines, which are in great demand at the moment, saw the greatest increase, with a healthy 137 percent growth in sales.Has the recent increase in sales been across the board, or are you seeing stratification in the market in terms of lot prices?We have seen a slowing in the market for works carrying midmarket estimates in the range of rmb5 million to rmb10 million ($760,000 to $1.5 million). As an experienced auction company, China Guardian is adjusting its strategy, focusing on strengthening its offerings both at the high end and of lots with estimates of less than rmb5 million. We have also worked to present lots in a more stylish cultural way to increase interest. And we have been offering more works by young painters and calligraphers that have found buyers at rather reasonable prices.
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