China Surpassed Us To Be The World Largest Art And Antiques Market

China surpassed US to be the world largest art and antiques market

As canvas prints ( asiaartshop.com )news reported, China has overtaken the US to become the world's largest art and antiques market, over the United States of America for decades in the field of leadership. which is the global economic hot focus an important indicator.

The report by the world 's top art and Antiques Fair -- European Fine Art and Antiques Fair ( TEFAF ) contractor, the European Fine Art Foundation commissioned. The report says, Chinese global art market share increased from 23% in 2010to 30%, the first transcend previous years champion of the United States, as the world's largest art and antiques market. The United States with a 29% share of the previous year was second, a decrease of five percentage points. 2010 is China beyond the UK with a 22% share of hold third position, and fourth French share lags behind, only 6%.

According to the report, the Chinese market rally plus art sales especially now, contemporary art sales rise, make the global art and antiques market warms up continuously. As the world's most up power market, Chinese art and antique auction market in 2010 to2011 - 177%, and continued to rise in64%, which is now, contemporary art market total turnover reached nearly 70%, two areas in 2011 to continue the strong recovery, has exceeded the 2007 -2008 the boom levels.

According to Chinese calligraphy report, Chinese market strong thrust from the rapid growth of wealth, adequate domestic supply and Chinese art buyers investment objective. Although the recent economic crisis makes the rest of the world buyers more cautious, but the Chinese capital market and the stock market downturn and the lack of other investment channels to Chinese customers will be substantial capital investment art market as an alternative investment.

In the Chinese auction market active transaction and art sales rise drive, the global art market in 2011continued to recover, the total turnover rose by 7 percentage points, relative market crisis in 2009 rose 63%, clinch a deal the number has increased by 5%, reaching 3,680,0000pieces.

However, according to the report, in 2012, all regions will face their challenges: for Chinese painting market, is how to deal with the overheated market, make the market more stable, long-term development; for the European market, how in the face of continuous adjustment and the rising cost of cases remain competitive; for the United States, as in recent years to a market center, how to deal with the lost supremacy challenge.

Source: http://www.asiaartshop.com/China-surpassed-US-to-be-the-world-largest-art-and-antiques-market

by: welling888

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