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 skillfully guides bidding for a rare Yongzheng bowl near New York's Rockefeller Centre. The delicate peach-decorated bowl secured a price of US$2.05 million, becoming the sale's top porcelain result. Over 100 items from the Art Institute of Chicago, part of a generational transition, are being returned to Chinese hands after residing in Western museums for over a century.
Rare Chinese art amassed by 19th-century American Gilded Age tycoons is being repatriated to China. A Chinese collector, dressed in black sportswear and trainers, snatched another vase for US$40,960, expressing a desire to bring it back to Guangzhou. The over 17.3 million US dollars generated from two-day sales at the Art Institute of Chicago include a Huanghuali daybed, which fetched US$3.2 million.
Chinese collectors place special value on items from US museums due to their prestige and the assurance against counterfeiting. Provenance and de-accession are crucial aspects in the art world, ensuring the authenticity and legitimacy of the pieces. US museum auctions, facing increased tariffs, have provided a workaround for these sellers.
The Chinese art market has grown significantly over the years, with the global fine art auction market reaching US$5 billion in 2015. China has welcomed the collecting and returning of masterpieces while monitoring corruption, capital flight, tax evasion, and political dissent.
Written by urgent.news from Reuters Business via SCMP's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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