Chinese Painting’s Long March – Ian Driscoll
A Financial Times article (from earlier this month) looks at the finances of collecting contemporary Chinese art and the good fortune of those who began buying before it became an international phenomenon:
If you view art as an asset class – and many people do – Chinese contemporary painting must rank alongside the most alpha-maximising investments of the past several years. For those with early-mover advantage, the returns have been staggering. Using current auction prices as a yardstick, some collectors’ paintings have appreciated at a compound annual return of about 125 per cent over the past seven years.
It wasn’t like this a few years ago. [Full Text]