Sotheby's Hong Kong sale of Chinese art from the renowned Meiyingtang collection on October 5, 2011 set another record for porcelain, this time for Ming blue and white wares. A beautiful meiping shaped vase from the Yongle era sold for HK$168.7 million (US$72 million). For more on this see the Oct. 7, 2011 article at Reuters: Ming Vase Smashes Record at Mixed Chinese SaleA related article on the current Chinese art market appeared in the Wall Street Journal today: Art Market: The China Factor
This article advised readers on what are more affordable alternatives for would-be buyers of Chinese art than those that sell for record-smashing prices. But while the article accurately notes what types of art fit into these less pricey categories, buyers still need to be wary if their intention is to buy art as an investment, which really is a gamble. There is much fine quality art available for low prices because it is not the height of fashion or whose prices are in the doldrums due to economic factors and there is no telling when the situation will change -- I am thinking especially of the situation for JAPANESE ART, and in particular, most types of screens, scrolls, lacquers, and ceramics, which are all great buys today.
