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On the afternoon of May 17, the three-day China Guardian 2004 Spring Auction ended with complete success. More than 4000 articles in nine sites were auctioned off at 360 million yuan, the best ever in more than decade more domestic cultural relics and art works auction markets.

The Silk Weaving Modeled after the Orchid Pavilion Stone Rubbing Authorized by the Qing Emperor Qianlong was auctioned off at 35.75 million yuan, a world record price for Chinese Kesi works, and also a world record price for Shi Qu Bao Ji (Qing Palace Works Catalogue). Besides, Wu Changshi’s Twelve Floral Plants was traded at world record price of 16.5 million yuan.

1000-plus pieces in four sites of Chinese calligraphy and painting works clinched a deal worth 249 million yuan. This indicated a thrilling momentum of coming close to the 2003 autumn Chinese Guardian Auction.

Ancient calligraphy and painting works were sold at 66.239 million yuan. The transaction rate was 89.95%. This revealed that buyers no longer clang only to modern works, but paid increased attention to ancient ones. Expertise analysis attributed these to three reasons: (1) the appearance of many important ancient works. For example, Ding Guan he’s Imitation Painting of Song-Dynasty Quadruple Hunting on Horseback was especially valuable because it was the only extant copy and also the painter’s only work in the Shi Qu Bao Ji Books; hence it was auctioned at a high price of 5.72 million yuan with many buyers competing for it. Forty other pieces from the old Xuanhui Hall collections from abroad were auctioned in excess of 24 million yuan. (2) The comparatively lower prices of ancient works than the soaring prices of the modern ones. For example, some two-to-three-hundred-year-old works used to sell for only some tens of thousands of yuan several years back, but at this auction, 12 ancient works were sold at more than one million yuan each. The highest-priced Wen Zhengming’s Painting of the Xitang Farewell Banquet was sold at record price of 6.49 million yuan. (3) Keenness of some buyers on elite works outside the Catalogue apart from Palace-collected ones. This represented a new trend in the collection market highlighting eyesight on elite works. Besides, there was a high rate of transaction for intermediate works priced between 500,000 to 1 million yuan, thus pushing up the sale of ancient works.

Of the Chinese modern works sales volume of over 182.9 million yuan, eleven works were sold at over 1 million yuan each. These included the 16.5 million yuan Wu Changshi’s Twelve Floral Plants, and the 5.5 million yuan Huang Zhou’s Plenty of Room for Your Performance in The Vast Countryside, which created a world record price for their works respectively. Apart from works by noted painters, works by second and third category painters were also sold at higher prices than before. And the transaction rate was high. Out of 179 pieces, 171 were sold out at the site of overseas collections with the transaction volume of 31.085 million yuan and selling rate of 95.53% high. Xu Beihong’s A Distant Glance and Wu Hufan’s Lake Stone and Double Pigeons were auctioned at 4.51 million yuan and 1.111 million yuan respectively.

Jade and porcelain articles clinched a total sales volume of 74.13 million yuan, at a selling rate of 59.23%. The Silk Weaving Modeled after the Orchid Pavilion Stone Rubbing Authorized by the Qing Emperor Qianlong drew attention from all buyers. As soon as the auctioneer started at 9.50 million yuan, the scene became thrilling with buyers responding enthusiastically. The price offered soon exceeded 20 million yuan, and when the offer climbed to 24 million yuan, the audience turned their eyesight to two buyers, who raised the placard half a million yuan at every turn. The offer soon soared to 30 million yuan amid thunderous applause. After scores of rounds, the masterpiece went to the No. 168 placard holder at the world record auction price of 35.75 million yuan, a world record price for Chinese Kesi works, and also a world record price for Shi Qu Bao Ji Books (Qing Palace Works Catalogue).

In terms of porcelain works, blue and white porcelain ware still predominated. A blue and white porcelain ware with dragon and phoenix pattern from Xuande Reign Period of the Ming Dynasty was sold at 6.71 million yuan, ten times the evaluation price. The variety of official kiln single color glazed articles was unique and also sold very well. Auction articles like Kiln Glazed Sprayer Vase from Qing Emperor Qianlong Period were all sold at more than 1 million yuan each. Compared with previous auctions, jade ware was relatively reduced in quantity, but the transaction price and rate were much higher.

Chinese oil paintings and sculptures had a total selling volume of over 20 million yuan, and the rate hit 84%, the best result in auctions of the same category at home. The Boatman on the Yellow River by Shang Yang in 1981 was transacted at 1.87 million yuan, the highest price ever obtained by the painter. The Red Shadow by Chen Yifei, A Female Nude by Jin Shangyi and By the Side of the Jialing River by Wu Zuoren were sold at 1.32 million yuan, 1.21 million yuan and 1.056 million yuan respectively.

The oil painting auction had two special features: (1) Interference of many new buyers gave the price a new positioning. They showed confidence in winning excellent pieces in general or masterpieces by noted painters. (2) Diversified orientation of buyer collection. Focal attention to works by veteran painters was evenly diversified to works by veteran, scholarly and contemporary painters and on works depicting the Cultural Revolution. Thus, the average price for oil paintings at auction was 200000-plus yuan. Besides, curio and calligraphy and painting collectors also directed their attention to oil painting markets, contributing to their boom.

Despite few highly priced auction items, rare ancient books with relatively balanced levels clinched a deal totaling 10.86 million yuan. Cao Datie’s collection was a flashing point in the site. Among the collected works was Qian Qianyi’s Decoding a Memorandum to the Emperor. Being a critical edition, it was once banned and ruined by the Qing Government, but was later preserved through good luck; hence it showed enormous rarity and was sold at a high price of 2.695 million yuan. Besides two rarities Shaolin Club Musical Notes, and Newly Edited Xiangxia Letters of Correspondence were auctioned at 275,000 yuan and 242,000 yuan respectively.

Postal coin site clinched a deal totaling 14.59-plus million yuan, the best ever in domestic postal coin auctions. A One Dollar silver coin manufactured in the Third Year of Qing Xuantong Reign Period with the pattern of a long-bearded dragon was sold to a mainlander at the world record auction price of 1.76 million yuan for Chinese coins. It was recorded that the previous world record was created at the 1991 US Goodman Gold and Silver Coin Collection Auction. The auctioned coin, cast in 1903 during the Qing Guangxu Reign Period, was sold at US$187000 an ounce, a world record that remained unbroken for a decade or more. Besides, a 50 tael denomination banknote from the China Merchants Bank in the 24th Year of Guangxu Reign period, was captured by a domestic collector at the world record auction price of 396000 yuan for single Chinese paper currency banknotes.

The postal item auction showed two special features: (1) Bustling market for classical post stamps. The market price of Big Dragon and Longevity Chinese Qing Dynasty post stamps generally soared. For example, a three-piece set of Big Dragon stamps was auctioned off at 473,000 yuan. (2) Auction articles with values of cultural relics and cultural connotations, such as memorandums to the Emperor on post stations during the Qing Dynasty, sold well. An increasing number of investors began to show concern for this field. From this we can see that post article investors began to shift their attention from the gold content to a higher collection level and began to care for the additional values of post articles under auction, extending general acclaim to those with historical backgrounds and in-depth significance. This fully demonstrated maturing collection and investment awareness and upgrading collection levels.

Authorized by China Guardian, the website Guardian Online gave a live net broadcast of the whole process of the Spring Auction. During the May 15 – 17 auction period, the website received a total of over 10 million clicks. Of which, nearly 20% of the visitors were from abroad.