How Chinese billionaire collector Liu Yiqian values his art
Liu Yiqian, buyer of the world’s second-most expensive artwork at auction, says he specifically bids for high-priced pieces even though he may not know much about them.
The former taxi driver turned billionaire made headlines last month when he bought Italian modernist Amedeo Modigliani’s 1917 Nu Couché [Reclining Nude] for US$170.4 million at a Christie’s auction.
In an interview with the Guangzhou newspaper Nanfang Daily, Liu said he judged an artwork’s value by how many people were bidding.
“You may know nothing about the background, time and story behind the artwork. But we can make up for that by observing how many people are vying for it,” Liu said.
He added that extremely expensive art pieces were much less likely to be forgeries.
“When there are many bidders at auction, it proves the work is widely recognised and must be a good one,” he said.