Calligraphy paintings lead 2011 spring auction

Sky-high price appearing, continual record breaking and frequent emergence of "white gloves"

Since the "RMB-100-million-yuan Era" in 2009, the artwork market has always been "hot" in China. Record breaking and new high seems to be a common occurrence in this market. Even so, people are still quite surprised by the hot market behavior in the just-completed spring auction in 2011.

A lot of sky-high prices and records emerged with the falling of hammer in the spring auction of this year. In the Guardian Spring Auction concluded in the end of May, the total turnover was up to RMB 5.323 billion yuan, refreshing the record of Chinese artwork auction in a single season and also historically creating four world records. EAGLE STANDING ON PINE TREE; FOUR-CHARACTER COUPLET IN SEAL SCRIPT by Qi Baishi created a world auction record for the recent and modern paintings and calligraphy with a price of RMB 425.5 million yuan; Wind, Earth and Wind by Chen Yifei created the world auction record for oil painting with a price of RMB 81.65 million yuan; Yuan Dynasty handwritten copy of Policies of the Eastern and Western Han Dynasties in Twelve Volumes set a world record of Chinese ancient books with a price of RMB 48.3 million yuan; Mirror, Blossom, Water and Moon-Bronze Mirror with Auspicious Beats and Inscriptions was sold at a price of RMB 8.97 million yuan, establishing a world record of bronze mirror.

The turnover created a record high continually, but on the contrary, many auction companies adopts a strategy to reduce the amount in the spring auction market this year. "We adopt a strategy to improve the quality and reduce the amount. The total amount reduces by 1/4 this year compared with one in the last year. I estimated that it would be the best if the turnover reached to RMB 3 to 4 billion yuan," Zhao Xu, executive director of Beijing Poly International Auction Co., Ltd. made such an estimate before the spring auction of this year. And due to the hot market, the final turnover is nearly two times of the estimated one.

Another surprising thing is the frequent emergence of "white gloves" in the spring auction market of this year. Obtaining "white gloves" is the highest honor for an auctioneer, which means a 100 percent transaction rate in an auction.

In the 3-day Hanhai Spring Auction, 100 percent artworks were transacted in four sessions namely Qing Yun Tang - Gold Litters, Collection of Chinese recent and modern paintings and calligraphy, Precious Xu Beihong Oil Paintings collected by Sun Peicang family, Belgian Private Collection of Buddha statues, and Hanhai Night Session for Important Paintings, Calligraphy and Antiques.

Guardian Spring Auction brought up five "white gloves" sessions namely Zhongxing Hut Painting Collection, Autumn Studio's Collection, Charming Landscape: Five Elaborate Paintings by Lu Yanshao from Private Collection in Singapore and Gazing at the Last Century: Painting and Calligraphy by Celebrated Politicians, Scholars and Artists.

Among 49 sessions in Poly Spring Auction, 100 percent artworks were transacted in 13 sessions, including Night Session for Baron Guy Ullens' collection of Chinese Important Contemporary Artworks, Centenary Brilliance - Night Session for Xu Bangda Artworks and Centenary Collection, Night Session for Chinese Modern and Contemporary Artworks - Important Paintings by Wu Guanzhong, Spring Water and Autumn Cloud - Oversea Collection of Jades in Song, Yuan, Ming and Qing Dynasties and "Vintage Vehicle".