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Long history of art painting auction house in unknown&nb

(2017-03-06 23:24:07)
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分类: 油画知识
In the summer of 2016, has a long history of art oil painting auction house Sotheby's (Sotheby's 's) in unknown circumstances have experienced a historic transformation. Taikang life insurance company of China, founder and CEO dung-sheng Chen is also the owner of a Chinese auction houses, he revealed in July last year, he has become a sotheby's biggest shareholder, holds a 13.5% stake in the company. October and November 2016, when sotheby's and its competitors in London and New York a big sale, art world remains to be seen, and see whether dung-sheng Chen is preferential price bought a great work of art, or for a flashy topic paid a high price.
Although equity investors simply do not know the difference between Modigliani (Modigliani) and Grandma Moses (Grandma Moses) difference, but they will also look at the auction, because a wider range of the impact of the fate of the art market is more than a small coterie of collectors. Driven by wealth and celebrities of the world's taste of art sales does not directly reflect the "real" economy. But they are and the more important indicators closely together, especially stocks and oil (see chart). While the researchers did not agree with art lead or drag down the market point of view, and other but hot sales sent a signal, that is the world's richest people full of confidence for the development of the economy - although popular art market accounted for only 0.1%, is remarkable, and the remaining 99.9% of the market is also excited.
At present, the market (as well as economic development) has no improvement. According to European Art Foundation (European Fine Art custom oil painting Foundation) statistics, in 2014, global Art sales reached a record $68.2 billion. Art sales fell by 7% in 2015, and 2016 is likely a double-digit decline. Sotheby's is the world's largest public auction, the investors can't escape, also before a rebound in 2016, its share price has more than 2014 high fell by more than 60%.
Collecting ring pinch is justified. As crude oil prices, oil barons have hopes on the auction to make money. Growth of the stock market to hedge fund tycoons have become more cautious. The development of China's domestic economic slowdown cuts the enthusiasm of the Chinese collectors. In the short term, the market demand is still in the doldrums. London art consulting firm ArtTactic in August last year launched a questionnaire survey, the results showed that in investigation of art industry in the industry, there are 87% of people said, half a year in the future market growth, even could continue to decline.
However, if the fall of 2016 major art sales activity unexpectedly appeared rise, so may be good news for the global economy. It also make us to focus on the sotheby's. Sotheby's, whether investors should be regarded as the main index of its re-emergence hope? In 2016, some investors have do so, they decided that sotheby's share price will go up from the lows of $19 per share to $38. To a certain extent, this reflects investors for the company's largest oil painting reproductions shareholder, the activist hedge fund manager before Dan Loeb (Dan Loeb) efforts are full of confidence, he used to try in 2013. Under pressure from the Loeb - he is also a collector - sotheby's change the CEO, bold, clean up the business model, and into the booming field of modern art at the time. [think Jeff Koons (Jeff Koons) balloon dog, in 2013, a work sold for $58.4 million; such a think again Martin kippen berg (Martin Kippenberger) from the from the self-portrait, it cost more than $15 million.]
1. The JPG
Nowadays, sotheby's is a powerful force in the field of modern art, with its competitors, private, Christie's auction house (Christie 's) is not matched. The problem is that sales have dropped sharply in the field of modern art in 2016, the personage inside course of study thinks this is the bursting of the bubble in the area. "Over the past five years we custom oil portrait have seen very. Offer completely ridiculous" A former executive at Christie's Fine Art, Art investment company Group's founder and CEO Philip Hoffman (Philip Hoffman) said. "When the stock market and the oil market was drained, speculators then walked out."
Some investors believe that sotheby's against recession better prepared. Over the years, sotheby's and Christie's white-hot competition between two houses in order to obtain commissions, both to sellers guarantee prices, the measures to lower profit margins. In 2015 as the sotheby's CEO ted Smith (Tad) Smith, said the auction house now attitude to guarantee "smarter".
In addition, sotheby's and boldly to art all people to carry out the loan business - once the art sales decline, the source of income will be full of potential. Art all art, for mortgage loans, can make them without having to sell art under the premise of the use of the value; At the same time, lenders can charge higher interest rates than traditional loans. For nearly four years, sotheby's lending tripled, as of last June, loan income rose 20% year-on-year, to $29.5 million. However, the market competition is likely to contain the development of the business. Private equity giant Carlyle Group (Carlyle Group) in 2015 into the loan market, Fine Art Group, will soon follow suit - which is pessimistic theory that one reason for the recent rally has to.
, of course, there is a kind of situation has the potential to sotheby's and the art market need not hidebound: rich wealthy regain optimism. On this issue, some traders put hope on China. Sotheby's in 2016, one of the best deal on the price of 6.8 million pounds ($9 million) to Jenny Saville (Jenny Saville) paintings "Shift" (Shift) sold to Shanghai art museum, the founder of the dragon. "China has about 2000 billionaires, but perhaps only 20 of them to buy high quality western art." Hoffman said. "It's only a matter of time." One of the billionaire? That is the number one sotheby's new shareholders dung-sheng Chen. If his release a signal for investment, China's elite is to regain confidence in its economic development, then investors will probably can do again soon.

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