Art News

Amid Global financial Market Turbulence, More Chinese Investors May Turn to Art

BEIJING.- With global financial markets around the world reacting violently to the debt problems plaguing Europe and the U.S., gold hitting US$1,700 per ounce for the first time, inflation in China continuing to hit new highs and the real estate market remaining volatile, Chinese investors are likely to maintain their preference for stability and long-term gain. Having relatively few investment options at their disposal, this means we can expect more of these investors to join the ranks of China’s new collectors, who have increasingly driven sales at auction houses not only in mainland China but also Hong Kong, London and New York. In the last two years, as Jing Daily has previously noted, this class of collectors has aggressively sought to diversify their assets with comparatively safe investments like art, fine wine, rare watches and gold and jewelry — items seen by many in China as “portable hedges” that will hold or grow value in the face of inflation or