This is an interesting article, but the real questions are: Were the numbers reported by the Chinese salerooms over the past few years accurate? Were all the reported purchases paid for? I have read a great deal about all the B.S. going on in the Chinese market. I would love to know the real numbers — you know, those lots that were sold and actually paid for. To read the full article, click HERE.
In case you are interested in reading more, here is a Forbes article from 2012 – China’s $13 Billion Art Fraud — And What It Means For You. Abigail Esman begins the article with:
If you pay attention either to China or the art market, you’ve probably heard the story: China last year became – according to art industry experts – the world’s largest market for art and antiques, surpassing the USA.
Well, here’s a shocker: it isn’t. Not even close.
In addition, Graham Bowley and David Barboza write, in a NY Times article from 2013 — A Culture of Bidding…, that China is number 2 behind the US in sales and that the market is: rife with fraud, forgeries and payment defaults… .
In the end, we will probably never know the real story; but does it matter? Not to me.
Poly Plaza in Beijing