Chinese art takes long march home from US museums
Christie’s auctioneer Rupert Banner leans forward with practised showmanship as bidding stalls on a rare Yongzheng bowl near New York’s iconic Rockefeller Centre. He pauses as if willing offers from thin air, scanning dozens of in-person buyers and phone banks connecting with China, London, Texas. It will be a bad look if the frenzy abates for this delicate peach-decorated bowl highlighted on…
Christie’s auctioneer Rupert Banner expertly guides bidding for a rare Yongzheng bowl, hoping to secure a price exceeding $2 million. Among the 100+ items from the Art Institute of Chicago, the focus is on returning prestigious artifacts to their native land after decades in Western museums. One lot, a vase once owned by financier Charles Schwab, sells to a Chinese collector who plans to return it to Guangzhou.
The sale generates $17.3 million, driven by items with museum provenance, which collectors prize for their authenticity and legal protection. Provenance, de-accessioning, and the removal of taxes on fine art have made US museum sales a viable option for Chinese collectors. The surge in prices has incentivized US museums to sell their collections, despite some criticism.
Beijing has embraced art collecting, encouraging citizens to bring back cultural treasures while monitoring for corruption and political dissent.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
