artnet AG: artnet and the China Association of Auctioneers (CAA) Announce Global Chinese Art Auction Market Report 2015 (news with additional features)


DGAP-Media / 23.08.2016 / 08:00

artnet and the China Association of Auctioneers (CAA) Announce
Global Chinese Art Auction Market Report 2015

Global Market for Chinese Art Restructures in 2015

Mainland China Market Continues to Decline

Oversea Market Reaches Historic High

New York, [August 23, 2016]-artnet, in collaboration with the China
Association of Auctioneers (CAA), has released the fourth edition of its
Global Chinese Art Auction Market Report, providing an in-depth look at the
auction market for Chinese art in 2015 with the goal of creating a new
standard of transparency in the marketplace.

Over the past 10 years, the Chinese art market has seen both tremendous
growth and volatilities, reaching a size large enough to majorly impact the
global art auction market. At the same time, the overseas sales of Chinese
art has also more than quadrupled since 2009, with an unexpectedly strong
growth in 2015 even as the mainland China market went through a cooling
period. Together, the global sales of Chinese art accounted for almost a
third of the global art auction market in 2015.

In a continued effort to present the most accurate representation of the
auction market for Chinese art, artnet has again partnered with the CAA to
produce a definitive study of the market, which only these two trusted
organizations can provide. The Global Chinese Art Auction Market Report
2015 is the only report of its kind to publish data from mainland China
that has been vetted by a third-party organization with insider knowledge
of the state of the market in China, along with comprehensive auction
results for Chinese art sold around the world.

Highlights of Key Findings:

  - The total sales value in mainland China continued to decline in 2015
    ($4.4 billion, or down 19% from 2014), reaching under its 2012 low.

  - The number of auction houses that offer Chinese art and antiques in
    mainland China declined to 274. This is 18 fewer houses than in 2014,
    and marks the first time that the number of active houses in mainland
    China has declined in the last four years.

  - An interesting shift in price structure can be observed in mainland
    China in 2015. The lower-middle end (¥500k-1 million) of the market
    experienced a 45% decrease in volume, while the ultra-high end of the
    market (¥50 million and above) increased by more than 200%. A greater
    percentage of lots are being sold below ¥500,000, reaching 96.6% of the
    market, or the highest in five years.

  - Driven by an increase in demand, the overseas market for Chinese art
    reached a historic high in 2015, totaling $2.6 billion in sales and
    reaching a size more than half that of mainland China for the first
    time.

  - North America saw a 70% increase in the supply of Chinese art in 2015
    year-on-year while the sell-through rate remained high at 61%, making
    it the largest market for Chinese art overseas in terms of volume.

  - The market share of Fine Chinese Paintings and Calligraphy in mainland
    China has declined to its lowest level in six years, both in terms of
    value (62%) and volume (43%), led by the continued market correction of
    the Modern and Contemporary Chinese Painting and Calligraphy sectors.

To request a copy of the Global Chinese Art Auction Market Report 2015,
please contact Ning Lu. To receive the latest art world news in your inbox,
sign up for the artnet News newsletter.

For more information, please contact:

Rita Salpietro
Director of Marketing
+1-212-497-9700 ext. 205
rsalpietro@artnet.com
About artnet

artnet is the leading place to buy, sell, and research fine art, design,
and decorative art online. Founded in 1989, artnet provides reliable
information and market transparency to the art world. With our
comprehensive suite of products, artnet can empower anyone with a passion
for art.

About the China Association of Auctioneers (CAA)

The China Association of Auctioneers (CAA) is the only national association
of the auction industry in China. The CAA is involved in regulating and
supervising registered auction houses according to the laws outlined in the
Auction Law of the People's Republic of China. Established in 1995, the CAA
is the most important platform for fostering art market connections within
China and with the rest of the world, making every effort to promote the
development of China's auction industry and auction market.


End of Media Release

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Additional features:

Document: http://n.eqs.com/c/fncls.ssp?u=DVYPHEGGTC
Document title: artnet and the China Association of Auctioneers (CAA)
Announce Global Chinese Art Auction Market Report 2015

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Issuer: artnet AG
Key word(s): Art

23.08.2016 Dissemination of a Press Release, transmitted by DGAP - a service
of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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