unintended economic downturn of the art market continues to adjust
According Artron Monitoring Center data show that from the overall trend, the art auction market fell sharply last year did not continue the trend,LV包包, but the show has stabilized the situation. Collaborative relationship between changes in the total art market between growth and macroeconomic indicators in the season still continues. China Narrow money supply (M1) at the end of 2012 has been in a recovery state, to the end of June this year, M1 balance of 31.36 trillion yuan, an increase of 9.1%, higher than the same period last year by 4.4 percentage points. In this context, the total decline in the art auction market tightened significantly, showing art market recovery funds restrict environmental factors have been significantly alleviated. In the 2012 autumn auction report, we have raised the art auction market's ability to pick up, will depend more on the auction company's collection capabilities and the ability to tap the market demand. In this year's spring auction, auction art auction collection difficulties encountered even worse than last year. On the one hand, a limited scale in itself, but has been excavated for over ten years artistic resources are becoming more scarce; hand, outstanding artistic resources gradually precipitate inflows ultimate collectors hands, and even become museum collections, and then in circulation the possibility of getting smaller and smaller. This indicates that in the next period of time, the overall size of the art market has been in a "consolidation" phase. Moreover, the next art auction market also affected the macroeconomic slowdown test.
2013 and the first half of China's macroeconomic trends do not continue to rebound the end of 2012, but there have been unintended fall. With the recent release of key macroeconomic indicators, the World Bank, the International Monetary Fund and other institutions have lowered its China 2013 economic forecast. "Unanticipated" decline to become a major feature of the current economic situation, if only relying on policy easing and stimulus,LV包包, China's economy has been difficult to return to the path of sustained recovery. Second-quarter GDP will be 7.7% in the first quarter of further decline to 7.5%, which is the government decision-GDP target set at the beginning of this year's bottom line. But in this context, the recent government did not order a large-scale stimulus funds to "steady growth", but issued a series of "revitalize the stock, with a good increment" as the core of structural adjustment policies, showing its economic slowdown tolerance has been improved significantly. But in order to safeguard economic growth does not slide out, "limit" price increases, which do not exceed the "ceiling", the government is expected to introduce a series of modest stimulus policies, including investment and consumption policies are expected to have some loose. Based on the end of our economic rebound was made in the second half of 2013 to pick up the art market optimistic expectations, and now apparently need to be amended. As a non-essential nature of investment goods, works of art consumption and investment in the macro-economic downturn is often influenced by both the income and substitution effects. Lower revenue and a shortage of funds the income effect will reduce the extent of the art market boom, while other investment areas because the recession and liberal investment spending policy, but also make money under the influence of the substitution effect of more inflow of art such " hard assets' market, thereby enhancing the boom market. In the present case, the negative impact of the income effect may be even greater.
However, under the current Chinese
huge capital stock of the art market in the future the possibility of "money" is minimal, the price of high-end art treasures has been in a rising trend, which has been reflected in the quarter, this market locally Then prices will trend to continue, but the market still need to wait to pick up the overall return and explore more high-quality resources.
market confidence fell sharply ancient paintings warmer
the last two quarters of macroeconomic unanticipated decline reduces confidence in the art market in the third quarter. However, according to according to Artron Market Monitoring Center data show each spring plate painting auction market share compared to the 2012 Spring Auction are improved. The Guardian Spring Auction Paintings auction turnover accounted for 67.44% of the entire turnover, higher than the same period last year 11.93 percent. Hua Chen Yongle two painting auction market share was 53.5% and 55% levels are better than last year.
overall turnover, this year's spring auction, although traditional painting and calligraphy works without creating a single new auction record for the market, but the overall performance compared to last year's turnover has been significantly warmer autumn auction of 50%, reached in 2011 before the market correction of level.
According to Shanghai Securities News reported that Beijing Huachen Auctions, said Zhou, head of calligraphy and painting collection, paintings market is a basic dish Chinese art market, Chinese art market after 20 years, experienced a number of "bull" market correction and But no matter how the market environment, the painting can occupy a large market for half of the total market transactions. This year the performance of Chinese painting can be said steadily, in the context of this year's market rebound has played a role mainstay.
