95% Price of Art Auction Less than 500000 Yuan

10:09:40 Sept.18th, 2014 Reporter: Jie Chen Yanyu Sheng  Resource: Beijing Commercial Daily

China Auction Industry Association released 2013 China Art World Statistics Annual Report yesterday. The report shows, 2013 domestic art auction turnover of 39.8 billion Yuan, including commission, of which 95% of the auction price less than 0.5 million Yuan. Industry estimates that the future Chinese art auction market may continue to increase the consumer auctions which are similar to the four seasons, the small bat shoot due to the low price of the auction market is gradually expanding in order to enhance the national art auction.

It is understood that higher bid auction generally have high artistic value and cultural heritage with a certain appreciation of space and more for the collection. However, the main use of some low price is in home furnishing decorative art.