▲The "Lotus Pond Carp" by the Third Worldly Protector of the Third World. (From the auction catalog of the New York Zhen Guan Art Auction Company)
New York News
The Chinese calligraphy and painting market has seen astonishing growth. According to the auction results of the New York art auction market this month, especially in the category of calligraphy and painting, taking the example of the Chinese treasure Christmas and New Year auction held by the New York Zhen Guan International Auction Company on December 9, 2012, not only achieved a high transaction rate, setting a record of ninety percent transactions, but also set three world and European-American auction records. Chinese buyers packaged and purchased the "Three Horses" by Zhao Mengfu of the Yuan Dynasty and the regular script calligraphy "Yuantong Hall Inscription" for 126 million RMB, setting a record for the transaction price of Chinese paintings in the European and American markets; a painting of "Pandas Playing with Bamboo" by the Chinese modern painter Wang Shen Yong was auctioned for $170,000 through a phone bidding by a Chinese buyer. The limited edition copies of the Third Worldly Protector's "Lotus Pond Carp" and "Spiritual Cat" were not originals, yet they were each snapped up by two individuals for nearly $380,000 and over $250,000, respectively, setting the highest record for the auction price of limited edition copy versions.
Experts explained that the Chinese calligraphy and painting market has seen astonishing growth in recent years, repeatedly setting high-priced transaction records, indicating that buyers have a more comprehensive understanding of the value of Chinese calligraphy and painting. They stated that although Qing and modern paintings are prone to forgeries, genuine works from the Yuan and Ming dynasties may have natural cracks due to their age, and these natural cracks are difficult to replicate. Many buyers are gradually realizing this, which may lead to a continued rise in the prices of ancient calligraphy and paintings in the future.
They analyzed the overall investment market situation, where the price of gold is already high, the overheated real estate market in mainland China has cooled down, and stock market returns have been disappointing, leading many investors to focus on the art field. This is also one of the important reasons why the company's auctions have repeatedly achieved good results. The items in this auction included more than three hundred pieces of calligraphy, porcelain, bronze ware, and original works by famous artists such as Zhao Mengfu, Dong Qichang, Shi Tao, Hua Yan, and Zheng Banqiao. The modern painter Wang Shen Yong painted pandas playing with bamboo, with the bamboo lush and the pandas vivid, attracting the interest of many buyers. It was finally auctioned for $170,000 (including commission), doubling the price of the same artist's work auctioned in Hong Kong the previous year, setting a new record for the artist's auction price. In particular, two limited edition reproductions of the Third Worldly Protector's paintings were highly sought after by buyers. The 22nd copy of the limited edition of "Lotus Pond Carp" was auctioned off by a Caucasian woman for $379,500 (including commission), while the 20th copy of the limited edition of "Spiritual Cat" was bought by another person for $253,000, setting the highest record for the auction of limited edition copy versions.