This year at Fine Art Asia we will be exhibiting a discerning selection of Contemporary Chinese Art. From the captivating contemporary Classical Realist style of Zeng Chuanxing’s ‘Paper Brides’ - one of which recently sold for £146,500 in the Christie’s auction of Sting & Trudie Styler’s art collection - to the intricate and mesmerizing installation work of Zhuang Hong Yi whose work has been shown at Art Basel, The Venice Biennale and numerous museums and galleries internationally, Contemporary Chinese art and the Chinese art market are pushing the art market forward more than ever. This is evidenced by an over 20% increase in sales in Asia over the past 6 months – Sotheby’s recent Asia sale reached $461.5 million – and also by an increase in sales and interest in Chinese Contemporary Artists. The influence of Chinese blue chip art collectors has been further endorsed by the recent purchase of a 13.5% stake in Sotheby’s auction house by Chinese life assurer Taikang Life. Taikang Life is one of China’s largest insurers with net assets of $5bn.
Art is acting as a hedge against the macroeconomic uncertainty. This effect was appreciable during the recent auction results with a positive outcome on the art market during this London’s auction week on 30th June 2016. The total sales of over £230 million among London’s biggest auction houses for Contemporary, Post-War, Impressionist and Modern auctions have banished the art market’s insecurities. It proved that the international art market can thrive in London despite Brexit and with Christie’s 250th anniversary sale, Defining British Art in which the modern and contemporary play a dominant role.
Brexit will surely have positive consequences on auction sales, due in part to the drop in the British Pound. The pound has become more attractive for foreign buyers, thereby stimulating the interest of foreign collectors. Another benefit to the post Brexit art market will be the relaxation of regulatory burdens that have built up within the EU over the past decade. Already, 85% of the £4 billion worth of art imported into the UK last year came from non-EU countries; a reduction in regulation will further stimulate a freer international trade, and allow the UK to more strongly compete within the global art market.
Tanya Baxter Contemporary will also be featuring a discerning selection of special limited edition prints of modern and contemporary masters including Tracey Emin, Banksy and Damien Hirst.
Founded in Hong Kong and with locations in London & Hong Kong, Tanya Baxter Contemporary bridges the gap between the Western and Chinese art markets. Having established long standing relationships with Chinese & international artists and collectors we exhibit some of the most exciting Contemporary Chinese artists alongside established blue chip international art. Our art advisory service operates at the top end of the market, providing specialist services and personal curation to prestigious private clients, corporations, foundations, private banks and offices.
Post War and Contemporary Art continues to command the art market, accounting for the largest section of the fine art auction market – 46 percent by value. With figures of astounding growth over the past decade, and an ever increasing population of collectors, art professionals and institutions all over the world, Contemporary art posts attractive returns for investors and is a much more transparent and efficient market for collectors to enter into.
Tanya Baxter Contemporary Art Advisory deals in the secondary market with the biggest names of Post War and Contemporary art globally. These include Banksy, Andy Warhol, Anish Kapoor, Marc Quinn, Gerhard Richter, Jean-Michel Basquiat, Wang Guangyi, Antony Gormley, Ai Weiwei, Francis Bacon, Tracey Emin, and Frank Auerbach amongst others. Modern and Contemporary Blue-chip works are suited for a growing serious collection; these artists continue to exhibit resilience and growth in value despite the global shifts in the art market, providing an excellent investment opportunity with potential for high returns.