appConfigEntityId

bodyType

customContents

entityId

entityUuid

articlePageQuery

filter

article

articleBaseAdvertisingInfoArticle

articleListArticle

articleSeoArticle

hooksArticleAcknowledgementGateOverlayArticle

hooksTrackPageViewArticle

hooksContentInterestArticle

articleLinkingDataContent

hooksAmpRedirectArticle

articleSchemaContent

hooksArticlePageAdvertisementConfigArticle

liveArticle

appConfig

advertZone

sentiment

contentLock

topics

types

sections

paywallTypes

createdDate

publishedDate

sponsorType

urlAlias

moreOnThisArticles

sectionsV2

commentCount

authorLocations

authors

corrections

displaySlideShow

multimediaEmbed

printHeadline

seriesContainer

articleSpeeches

socialHeadline

headline

images

flag

firstTopic

glossary

flattenTypeIds

image

relatedLinks

relatedNewsletters

__typename

sponsor

pdfFiles

seriesReverseOrder

series

disableOffPlatformContent

published

updatedDate

summary

subHeadline

body

keywords

readingTime

customTimezone

liveContents

json

The mainland's droves of newly rich are keen to dabble in the art market, but many hold misconceptions or make basic mistakes, said the co-organiser of a new international fine art fair on the mainland.
They were nevertheless becoming more discriminating and learning to buy wisely, said Calvin Hui, co-chairman and director of Hong Kong's Fine Art Asia.
"At the moment, they more or less go for brand names, big artists or established galleries," he said.
About 20 per cent of visitors to its expo last year were from the mainland. It is now partnering with an offshoot of the mainland's second-largest auction house, China Guardian Auctions, to launch an expo in Beijing between May 28 and June 1, where it hopes to tempt new entrants to the market.

	He wanted everything in the catalogue - ink paintings, oil paintings and even stamps

	Kou Qin, China Guardian auction house, on a novice mainland buyer
The director of China Guardian, Kou Qin, said the newer buyers were not the kind of collectors who travelled to Hong Kong for auctions or placed phone bids on lots under the hammer in London and Paris, but novices.
"I was once in Beijing for an auction. I saw an important-looking man pacing up and down in the lobby of an auction house," Kou said. "He said he wanted to take a look, but didn't know how to enter. He didn't know the procedure."
Kou told the man, who was in the city on a business trip, to first go to the exhibition, get a recommendation, decide how much he was willing to pay and then register. The man was surprised how simple the process was and became a customer.
Another first-time buyer from Hainan province thought all art was priced in the millions and grew overexcited when he discovered there was "cheap" art on auction.
"He wanted everything in the catalogue," Kou said. "He wanted ink paintings, oil paintings and even stamps."
Kou advised him to merely observe at his first auction and bid at the next one.
"What is so extraordinary about buying things?" he responded. "I spend tens of thousands of yuan on a karaoke session."
Another buyer from northeastern China did not consult experts, but thought anything damaged or worn was antique.
But Kou said these new buyers were slowly learning from one another and comparing their purchases and prices.
Hui said the expo, which will be part of the government-organised China International Fair for Trade in Services, would not only tap into the auction house's collector base, but target all fair visitors, which attracted more than 100,000 people last year.
"Most of the visitors to the fair are decision-makers, chairmen and directors of big Chinese corporations," Hui said.
"They may not necessarily be art collectors, but they may see art as another business opportunity."
The fair was announced two months after the European Fine Art Fair cancelled its plans to launch a Beijing edition with Sotheby's, which is believed to have been the result of the cost and red tape involved.
Hui said: "In London and Paris, they were all a bit shocked when we successfully announced the fair.
"We tried to do it individually like the European Fine Art Fair," Hui said.
"But having the support of the government is very important when you do art."


Mainland Chinese art buyers grow more choosey

Hong Kong market leaders Fine Art Asia are expanding to the mainland. Photo: SCMP

New York Asian art auctions bring buyers from around the world

European art museums flock to Asia to exhibit - and attract donations

Visually impaired pupils enjoy the Louvre's "Touching art" show in 2010. Photo: Edward Wong

The opening of the Relievo collection of Van Gogh masterpieces. Photo: James Whittle

Love Bed by Tayeba Begum Lipi at the Asia Society. Photo: Sam Tsang

Axel Ruger

Chinese museums, collectors set for fierce bidding on iconic bronze 

The “Min” Fanglei may draw bids of over US$20 million next week. 

News

China

Entrants to the market are learning from their earlier mistakes, auction house director says


The mainland's droves of newly rich are keen to dabble in the art market, but many hold misconceptions or make basic mistakes, said the co-organiser of a new international fine art fair on the mainland.


Mainland Chinese art buyers grow more choosey

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Entrants to the market are learning from their earlier mistakes, auction house director says

Entrants to the market are learning from their earlier mistakes, auction house director says