'Electroshock': China tops global art market

China topped the United States in 2010 as the country with the richest art auctions, according to a French company that tracks global art deals.

"It's an electroshock in the history of the global at market," Thierry Ehrmann, president of Artprice, told AFP.

"Fine art" auctions in China - mainly Hong Kong, Beijing and Shanghai - topped 3.1 billion dollars (2.2 billion euros) last year, he said.

China generated sales accounting for 33 percent of art sold in 2010, while the US cash registers took in 30 percent.

Britain represented 19 percent of the total, with France coming in fourth place with five percent.

It was only four years ago, in 2007, that China nudged past France into third place, an indication of how quickly the economic powerhouse has moved to the first rung of the rarefied world of art auctions, Ehrmann said.

Not just the amount of money changing hands has made China number one, but the rise of Chinese artists as well, he added.

In Artprice's ranking of the 10 top-earning artists for 2010, four are from the Middle Kingdom.

The previous year, there was only one.

After Pablo Picasso, the artist whose works brought in more cash than any other in 2010 was Qi Baishi, who died in 1957.

Compatriots Zhang Daqian, Xu Beihong and Fu Baoshi were in third, eight and ninth place respectively.

The prominence of Chinese artists in the ranking is all the more remarkable given the high "liquidity" - the high volume of works brought to auction - of Picasso and the number two earner, Andy Warhol, Ehrmann said.

Part of the Serveur Group, Artprice describes itself as the world leader in data on pricing and sales in the art auction market. The company is listed on the Paris exchange.

Arts and Entertainment

Film Leonardo DiCaprio hunts Tom Hardy

Arts and Entertainment
And now for something completely different: the ‘Sin City’ episode of ‘Casualty’
TV
Have you tried new the Independent Digital Edition apps?
Arts and Entertainment

ebooksNow available in paperback
Arts and Entertainment

ebooks
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
SPONSORED FEATURES

ES Rentals

    Independent Dating
    and  

    By clicking 'Search' you
    are agreeing to our
    Terms of Use.

    Blairites be warned, this could be the moment Labour turns into Syriza

    Andrew Grice: Inside Westminster

    Blairites be warned, this could be the moment Labour turns into Syriza
    HMS Victory: The mystery of Britain's worst naval disaster is finally solved - 271 years later

    The mystery of Britain's worst naval disaster is finally solved - 271 years later

    Exclusive: David Keys reveals the research that finally explains why HMS Victory went down with the loss of 1,100 lives
    Survivors of the Nagasaki atomic bomb attack: Japan must not abandon its post-war pacifism

    'I saw people so injured you couldn't tell if they were dead or alive'

    Nagasaki survivors on why Japan must not abandon its post-war pacifism
    Jon Stewart: The voice of Democrats who felt Obama had failed to deliver on his 'Yes We Can' slogan, and the voter he tried hardest to keep onside

    The voter Obama tried hardest to keep onside

    Outgoing The Daily Show host, Jon Stewart, became the voice of Democrats who felt the President had failed to deliver on his ‘Yes We Can’ slogan. Tim Walker charts the ups and downs of their 10-year relationship on screen
    RuPaul interview: The drag star on being inspired by Bowie, never fitting in, and saying the first thing that comes into your head

    RuPaul interview

    The drag star on being inspired by Bowie, never fitting in, and saying the first thing that comes into your head
    Secrets of comedy couples: What's it like when both you and your partner are stand-ups?

    Secrets of comedy couples

    What's it like when both you and your partner are stand-ups?
    Satya Nadella: As Windows 10 is launched can he return Microsoft to its former glory?

    Satya Nadella: The man to clean up for Windows?

    While Microsoft's founders spend their billions, the once-invincible tech company's new boss is trying to save it
    The best swimwear for men: From trunks to shorts, make a splash this summer

    The best swimwear for men

    From trunks to shorts, make a splash this summer
    Mark Hix recipes: Our chef tries his hand at a spot of summer foraging

    Mark Hix goes summer foraging

     A dinner party doesn't have to mean a trip to the supermarket
    Ashes 2015: With an audacious flourish, home hero Ian Bell ends all debate

    With an audacious flourish, the home hero ends all debate

    Ian Bell advances to Trent Bridge next week almost as undroppable as Alastair Cook and Joe Root, a cornerstone of England's new thinking, says Kevin Garside
    Aaron Ramsey interview: Wales midfielder determined to be centre of attention for Arsenal this season

    Aaron Ramsey interview

    Wales midfielder determined to be centre of attention for Arsenal this season
    Community Shield: Arsene Wenger needs to strike first blow in rivalry with Jose Mourinho

    Community Shield gives Wenger chance to strike first blow in rivalry with Mourinho

    As long as the Arsenal manager's run of games without a win over his Chelsea counterpart continues it will continue to dominate the narrative around the two men
    The unlikely rise of AFC Bournemouth - and what it says about English life

    Unlikely rise of AFC Bournemouth

    Bournemouth’s elevation to football’s top tier is one of the most improbable of recent times. But it’s illustrative of deeper and wider changes in English life
    A Very British Coup, part two: New novel in pipeline as Jeremy Corbyn's rise inspires sequel

    A Very British Coup, part two

    New novel in pipeline as Jeremy Corbyn's rise inspires sequel
    Philae lander data show comets could have brought 'building blocks of life' to Earth

    Philae lander data show comets could have brought 'building blocks of life' to Earth

    Icy dust layer holds organic compounds similar to those found in living organisms