Sotheby’s auction on October 4th-5th in Hong Kong

When I look at the results my first idea comes to me is “sell your collection and start another thing”.

No, it’s not because the prices are rocketing or I’m aware about a freeze in the market. No. It’s because I can not understand that prices for south Asian young artist (born in middle 70’s) without any history or biography could pass from an estimation of 15.000 USD to be sold for 280.000 USD!!! Or from 30.000 USD to 172.000 USD at levels of the biggest Chinese artist or European that double his age!!!

Better not try to understand, but things like this not encourage to collect, only speculate. And I believe speculation will not be good for art at medium term. A lot of artists and collectors will leave their skin.

Anyway, the auction was cloudy.

- There is a healthy market until 60.000 USD or 500.000HKD formed by well known Chinese artist, let me say the second level of the Big ones. With attractive works and reasonable prices.

- Very difficult to find buyers for the Big ones (Zhang, Wang, Yue, Zeng, Tang…) when asked for around 500.000 USD or 4.000.000 HKD

- Much more difficult when asked for 1.000.000 USD or 8.000.000 HKD

It’s also true that the auction was in the middle of 15 days of turmoil in the financial markets. But in any case it seems that market becomes more rational, and that’s good for collectors like me.