the art of rebalancing

the art of rebalancing

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时间:2018-07-07

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1、TheartofrebalancingAhandfulofvisitorspausetostareatthesorryremainsofaprofessionalcamera,impaledthroughthelensandpinnedtothewallbyacolorfulspear.Thetrickleofpassers-byinShanghART,oneofShanghai’sbetterknownartgalleries,isabouttheusualfootfallforahumidAugustmorning,saidBetty,astaffmember

2、.It’stheslowseason,andwillbeforthenextfewmonths.RumorsofaslowdownintheartmarkethavebeenfloatingaroundtheShanghaiartdistrict,locatedonMoganshanRoad.Buttheimpactishardtogaugefromthegalleryfloor.Bettyiscoyaboutnumbers,butshethinksthatShanghART’ssalesarerunningaboutevenwithlastyear.Artind

3、ustryinsiderssaymanyChinesegallerieshavenotbeenmuchaffectedbytherecentartmarketslowdown.Galleriesdidn’tfullycapturerecentgrowthoverthepastfewyears,whichaccruedmostlytohigh-endauctionhouses,andso9arenotasaffectedbytaperingdemand.Butwhilethemarketisgrowing,ithasalsodrawninsophisticatedW

4、esterngalleries,whonowthreatentobeatthemontheirhometurf.“WhatIseeinmanyoftheChinesegalleriesisacertainfear,”saidLorenzoRudolf,chiefexecutiveofArtStageSingapore,aregionalartbusinessexhibition.“Notoneofthesegalleriescancompetewith[Western]rivals.”IfChina’seconomicgrowthoverthepastdecade

5、hasbeensteep,thatofitsartmarkethasbeendownrightvertiginous.“Ifyoulookatthegraphsof[salesof]traditionalChineseworksofart,theywerebasicallystraightupintheair,”notedSuzanneGyorgy,artfinancemanageratCitiPrivateBank.“It’sallmovedsoquicklyinthepastfiveyears;itwassucharapidchangethatisnowhav

6、ingahealthycorrectionduetoconnoisseurship.”China’sartmarketgrewby177%in2010toovertaketheUK,andlastyeargrewby64%todisplacetheUSastheworld’sbiggestartmarket,accordingtoClareMcAndrew,aDublin-basedeconomistat9researchfirmArtsEconomics.Chinanowaccountsforastaggering30%ofglobalartmarketsale

7、s.Yetsomesegmentsofthemarkethavebenefitedmorethanothers.“Since2008it’sbeenthehighendoftheartmarketthat’sbeenreallycarryingtheshow,”saidGyorgyofCitiPrivateBank,addingthatthemiddleandlowertiersofthemarkethavenotcapturedthesamegains.Thisdivergenceisprimarilyareflectionofbroaderglobalpatt

8、ernso

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