China Guardian auction fetches RMB 1.87 billion

After an exciting five days of auctions, the China Guardian 2015 Spring Auctions concluded with a total of 1.87 billion yuan in sales on May 20.

The auction of artist Pan Tianshou’s work, Eagle, Rock and Flora, on Grand View Night during the China Guardian 2015 Spring Auctions.

President of China Guardian’s Hu Yanyan said: “China Guardian 2015 Spring Auctions ended on a high note. The successful transaction of two works with a hammer price of more than one hundred million yuan once again confirms that valuable and rare works of high quality always earn the long-lasting high price. Chinese painting and calligraphy is still the pillar of the market, while the 20th century art and contemporary art are on the upward trend, showing some highlights. However, the overall sales rate has dropped slightly, which reflects the demand for the ordinary auction goods has weakened. Besides, the entry of new buyers also makes certain changes to the direction of purchasing. In a word, the overall market trend is very unpredictable. Although China Guardian 2015 Spring Auctions has achieved remarkable results, it does not mean that the market has walked out of the predicament. We still have to wait for the big economic boom to invigorate the art market.”

The China Guardian 2015 Spring Auctions highlighted five features.

Grand View Night boosts market confidence

The Grand View Night of China Guardian 2015 Spring Auctions started bidding by attracting a large number of buyers at 19:00 on May 17. After an exciting five-hour auction, the total sales volume reached 954 million yuan.

Pan Tianshou’s Eagle, Rock and Flora sold for 279 million yuan.

In the session of “Grand View: Chinese Painting Highlight—Modern”, artist Pan Tianshou’s representative work Eagle, Rock and Flora hit a record auction price of 279 million yuan after a fierce bidding, while Li Keran’s masterwork of revolutionary sacred place Jinggang Mountain fetched a price of 126.5 million yuan, an unexpected high in recent years.

Li Keran’s Jinggang Mountain sold for 126.5 million yuan.

The total transaction volume of 15 lots from the session “Grand View: Chinese Painting Highlight—The Path to Ancient Masters • Zhang Daqian before 1949” reached 91.37 million yuan, significantly enhancing the market confidence of Zhang’s paintings. Among the lots, Figures after Zhao Mengfu was sold for 19.55 million yuan.

Letters by Celebrities of Ming Dynasty Artists sold for 37.375 million yuan.

The Classic Chinese Paintings and Calligraphy section was well received by the collectors and built itself an excellent brand effect. Its transaction value remained high as always. Calligraphy in Clerical Script and Letters by Celebrities of Ming Dynasty Artists were sold respectively for 40.25 million yuan and 37.375 million yuan. In addition, Thousands Miles of Mountain and Stream by ancient Chinese landscape painter Zheng Zhong fetched 46 million yuan, which showed that classical paintings of high quality are still the hottest items in the market.

Thousands Miles of Mountain and Stream by Zheng Zhong sold for 46 million yuan.

Chinese 20th century art and contemporary art fetch more

China Guardian oil painting section this year was renamed as "Chinese 20th century art and contemporary art" for the purpose of better market positioning. Meanwhile, the strategy of “predicting market with academic guiding” has also been highly recognized by the collectors. In the end, the total transaction volume of this section achieved 128 million yuan.

"The Art Journey of Wang Jiyuan" was the first auction session of an individual artist, which gathered many valuable creations of artist Wang Jiyuan after he left for America in 1940s. The lots were favored by collectors and the session resulted in a 100 percent sale rate.

Wu Dayu’s Composing Rhymes – 63 sold for 11.5 million yuan.

The other three sessions also ended with good results. The session “20th Century Art” gathering 40 early oil paintings from Chinese artists reached a sales volume of 51.59 million yuan and 84 percent sale rate. Among these masterworks, Wu Dayu’sComposing Rhymes – 63 was sold for 11.5 million yuan, setting the highest price record in this section.

Featured auction goods in hot demand

There were many featured lots in China Guardian 2015 Spring Auction favored by collectors. For example, in the session “A Journey into the Chinese Imperial Porcelain and Jade Art”, A Tea-Dust Glaze Vase in Lei-Shape, modeled after the antique style of bronze ware, is a rarely seen royal kiln made during the Qianlong Emperor of the Qing dynasty (1644-1911) in the marketplace and was sold for 12.65 million yuan. While, some other porcelain antiques like A Pair of Blue and White Vases with Scroll Flowers Pattern and Ru-Type Vase with Linear Decoration were sold respectively for 10.35 million yuan and 9.43 million yuan.

A Tea-Dust Glaze Vase in Lei-Shape of Qing Dynasty (1644-1911) sold for 12.65 million yuan.

Some special sessions like “Fine Gilt—Bronze Buddhist Images” also achieved a great deal with total sales volume of 41.89 million yuan and 92 percent sale rate. The 5th Shamar Rinpoche Statue from 16-17th century of Tibet was sold for 5.06 million yuan.

5th Shamar Rinpoche Statue from 16-17th century of Tibet sold for 5.06 million yuan.

Real-time online bidding introduced 

Online bidding underway.

The session "Fine and Rare Wines of the World" launched online bidding system so that collectors around the world can participate in the auction via internet. After a five-hour exciting bidding, all the 345 lots were sold out with a total sales volume of 13.35 million yuan. The lot “Domine de la Romane - Conti Romanee – Conti Vertical Set – Vintage 2000 – 2011”, including 12 bottles, was sold for 1.15 million yuan.

“Domine de la Romane - Conti Romanee – Conti Vertical Set – Vintage 2000 – 2011” sold for 1.15 million yuan.

This was the first time China Guardian introduce the online bidding system which provide more convenient and efficient channel for the collectors.

Pair of Huanghuali Armchairs with Four Protruding Ends from late Ming Dynasty (1368-1644) sold for 7.475 million yuan

In addition, some other lots like, Pair of Huanghuali Armchairs with Four Protruding Ends from the session “Graceful Companions—Fine Classic Furniture of Ming and Qing Dynasties” and Commemorative Large Silver Cup from the session “Ancient Coins and Silver and Gold Wares” also won good reputation at the marketplace and sold for respectively at a price of 7.475 million yuan and 4.14 million yuan.

Commemorative Large Silver Cup from late Qing Dynasty (1644-1911) sold for 4.14 million yuan.

Better service from China Guardian

China Guardian has been devoted to provide excellent service to collectors. Hu said that, for collectors, we must provide more valuable service. China Guardian made great efforts to deepen service content and take consider of every details in the course of preparing for site layout and activity arrangements during China Guardian 2015 Spring Auctions.

Collectors take part in a China Guardian presentation.

China Guardian displayed important works during the preview.