Peking offers icon of Mao to a feverish art market

TERESA POOLE

Peking

In China's burgeoning art and antiquities auction market, there are many questions no one wants to answer.

Which government department, for instance, is selling one of the most famous official paintings of Mao? This goes under the hammer today in Peking, estimated to raise more than 1.8m yuan (pounds 140,000).

Where will Peking's cash-strapped Palace Museum find the money for its successful 18m yuan record bid on Thursday for the 1,000-year-old Song dynasty painting Pictures of Ten Poems by Zhang Xian?

And, in a market where a pair of early 18th-century carved wooden wardrobes is expected to raise at least 1.5m yuan, a Yuan dynasty ceramic pot is marked down at 2m yuan, and even modern oil paintings start at around 50,000 yuan, who are the mainlanders who can find this kind of money?

This week has seen auction fever in Peking. Three state-owned Chinese auction houses, Rong Bao, Hanhai and Guardian, have gathered some 2,800 artworks and antiquities valued at around 200m yuan for a series of auctions which continue over this weekend. In recent days, Christie's and Sotheby's have held their first exhibitions in Peking, to encourage mainland interest in collections of ceramics and jade jewellery from outside China which will be auctioned in Hong Kong at the end of this month.

And just two years after auctions of antiquities were first sanctioned by the state, the Chinese are certainly buying. In Hanhai's auction on Thursday, more than pounds 3m worth of paintings were sold, aside from the Palace Museum purchase, with mainlanders playing their part.

Julian Thompson, chairman of Sotheby's Asia, said there had been a ''tremendous upsurge'' in mainland purchasing over the past two to three years. According to Wang Yannan at the Guardian auction house, this year also has seen an increase in overseas sellers consigning pieces to China for auction, because of the buoyant market.

It is difficult to discover who these mainland buyers are, because with crackdowns in China against corruption and tax evasion, no one wants to admit to having large amounts of spare cash.

Just as mysterious are the sellers. The 1967 picture Chairman Mao Goes to Anyuan was the most famous painting of Mao to be released during the Cultural Revolution. The image of Mao striding across the hills was reproduced on stamps, badges and 900 million posters. Is the Chinese Communist Party now flogging off its propaganda heirlooms?

Ms Wang at Guardian said the majority of the paintings, ceramics, jewellery, rare books and furniture on offer at their auctions was being sold by mainland individuals who have woken up to the increased value of family treasures.

Up to 300 people are expected to register to bid at the Guardian market and, judging by experience, more than half the buyers will be mainland Chinese. Ms Wang identifies three types of mainland buyers. ''The first is corporations buying for the collection of the company. Then there are private individual collectors, and mainland art dealers. The buyers are mostly young and middle-aged, because these are the people who now have the money. A lot of them are in the stock market or real estate business,'' she said.

Lillian Chu of Christie's said: ''The history of collecting is in the Chinese blood.'' Christie's and Sotheby's both have representative offices in Shanghai and say that, at their top end of the market, there are about 10 mainlanders who take part in their auctions outside China.

''I believe that the trend is going to be that corporate art is going to start in China.'' She described the buying power as ''quite surprisingly strong''. In some cases prices have been higher inside China, particularly for paintings.

Chiang Lim-che, a Hong Kong furniture dealer, said most mainland Chinese buyers were looking for an investment. ''There are a lot of people buying in China,'' he said. ''They want to make money rather than own art. They pay attention to the value more than why something is a good piece, or the history of the piece. In China the most frequent question is 'How much is it worth?' ''

Suggested Topics
Start your day with The Independent, sign up for daily news emails
News
A poster by Durham Constabulary
news
Arts and Entertainment
books New York Times slammed over summer reading list
Sport
Cameron Jerome
footballCanaries beat Boro to gain promotion to the Premier League
Arts and Entertainment
Performers drink tea at the Glastonbury festival in 2010
music
Have you tried new the Independent Digital Edition apps?
News
ebookA unique anthology of reporting and analysis of a crucial period of history
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

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

iJobs Job Widget
iJobs General

Guru Careers: Software Developer / C# Developer

£40-50K: Guru Careers: We are seeking an experienced Software / C# Developer w...

Guru Careers: Software Developer

£35 - 40k + Benefits: Guru Careers: We are seeking a Software Developer (JavaS...

SThree: Trainee Recruitment Consultant / Resourcer

£18000 - £23000 per annum + Commission: SThree: As a Trainee Recruitment Consu...

Ashdown Group: UI Developer - (UI, HTML, CSS, JavaScript, AngularJS)

£25000 - £40000 per annum: Ashdown Group: UI Developer - (UI, JavaScript, HTML...

Day In a Page

Abuse - and the hell that came afterwards

Abuse - and the hell that follows

James Rhodes on the extraordinary legal battle to publish his memoir
Why we need a 'tranquility map' of England, according to campaigners

It's oh so quiet!

The case for a 'tranquility map' of England
'Timeless fashion': It may be a paradox, but the industry loves it

'Timeless fashion'

It may be a paradox, but the industry loves it
If the West needs a bridge to the 'moderates' inside Isis, maybe we could have done with Osama bin Laden staying alive after all

Could have done with Osama bin Laden staying alive?

Robert Fisk on the Fountainheads of World Evil in 2011 - and 2015
New exhibition celebrates the evolution of swimwear

Evolution of swimwear

From bathing dresses in the twenties to modern bikinis
Sun, sex and an anthropological study: One British academic's summer of hell in Magaluf

Sun, sex and an anthropological study

One academic’s summer of hell in Magaluf
From Shakespeare to Rising Damp... to Vicious

Frances de la Tour's 50-year triumph

'Rising Damp' brought De la Tour such recognition that she could be forgiven if she'd never been able to move on. But at 70, she continues to flourish - and to beguile
'That Whitsun, I was late getting away...'

Ian McMillan on the Whitsun Weddings

This weekend is Whitsun, and while the festival may no longer resonate, Larkin's best-loved poem, lives on - along with the train journey at the heart of it
Kathryn Williams explores the works and influences of Sylvia Plath in a new light

Songs from the bell jar

Kathryn Williams explores the works and influences of Sylvia Plath
How one man's day in high heels showed him that Cannes must change its 'no flats' policy

One man's day in high heels

...showed him that Cannes must change its 'flats' policy
Is a quiet crusade to reform executive pay bearing fruit?

Is a quiet crusade to reform executive pay bearing fruit?

Dominic Rossi of Fidelity says his pressure on business to control rewards is working. But why aren’t other fund managers helping?
The King David Hotel gives precious work to Palestinians - unless peace talks are on

King David Hotel: Palestinians not included

The King David is special to Jerusalem. Nick Kochan checked in and discovered it has some special arrangements, too
More people moving from Australia to New Zealand than in the other direction for first time in 24 years

End of the Aussie brain drain

More people moving from Australia to New Zealand than in the other direction for first time in 24 years
Meditation is touted as a cure for mental instability but can it actually be bad for you?

Can meditation be bad for you?

Researching a mass murder, Dr Miguel Farias discovered that, far from bringing inner peace, meditation can leave devotees in pieces
Eurovision 2015: Australians will be cheering on their first-ever entrant this Saturday

Australia's first-ever Eurovision entrant

Australia, a nation of kitsch-worshippers, has always loved the Eurovision Song Contest. Maggie Alderson says it'll fit in fine