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The China Guardian 2007 Fall Auction closed successfully on November 13th, with a total of 19 special auction sessions dedicated variously to Chinese painting and calligraphy, porcelain crafts, oil painting and sculpture, modern art, photographic art, ancient books and rare editions, post items, coins and copper mirrors, etc. The high volume of excellent lots and their repeated successes brought this auction a total transaction value of over 698 million RMB, the best performance yet of all China Guardian fall auctions.
China Guardian 2007 Fall Auction set 3 world records altogether; first, The Red Cliff, a national treasure created by the Ming Dynasty painter Qiu Ying, made a world auction record for Chinese Paintings at the extremely high transaction price of RMB 79.62 million; Secondly, A Set of Ten Colored Ink Sticks with scenes of West Lake, a royal treasure made for the Qianlong Emperor era during the Qing Dynasty, made a world auction record for ancient Chinese stationery at RMB 4.48 million; lastly, a 50-Liang Silver Ingot, produced in 6th year of the Yongle reign of the Ming Dynasty, made a world auction record for silver ingots at RMB 1.568 million. In addition, the special auction sessions of "Zhang in the South and Qi in the North – Excellent Artworks by Zhang Daqian and Qi Baishi" and the "Dan Qing Zhu Yan Zhai Collection of Classical Chinese Paintings" were highlights, each garnering 100 % transaction rates.
Ms. Wang Yannan, Director President of China Guardian International Auction Co., Ltd, was quoted as saying, "The success of China Guardian in this fall auction is attributed to the joint effort of all our staff members and to our consistent and long-term effort to be trustworthy, honest and quality-service oriented. It is worth pointing out that the transaction price of The Red Cliff exceeded 10 million US dollars. This is a symbol that the price of Chinese paintings has achieved a new height in the international art market, predicting a strong momentum and bright future for Chinese arts in the auction market."
Chinese painting and calligraphy has strong momentum: The Red Cliff by the Ming Dynasty painter Qiu Ying sets a world auction record for Chinese Paintings
In this fall auction, Chinese painting and calligraphy maintained a strong momentum with a transaction price of over RMB 400 million. Ms. Hu Yanyan, general manager of the Chinese Painting and Calligraphy Department at China Guardian, was quoted as saying, "After the adjustment in 2006, the market for Chinese painting and calligraphy has warmed up gradually in 2007 and is heading in a positive direction with the market prices becoming more reasonable. The success in Chinese painting and calligraphy this time is attributable on one hand to the prudential attitude and strength of China Guardian in the field, and on the other hand to the fact that China Guardian is highly recognized for its professional capacity in selecting painting and calligraphy masterpieces."
In the traditional Chinese painting and calligraphy session, The Red Cliff reached a transaction price of RMB 79.62 million, setting a world auction record among all varieties of Chinese painting, including Chinese oil painting, contemporary Chinese painting, traditional Chinese painting and calligraphy, and all other Chinese painting categories. This is also the first time for Chinese paintings to exceed the 10 million US dollar price level. As one of the "Four Masters in the Wu School" during the Ming Dynasty, Qiu Ying has always been favored by collectors. Rarely seen privately, his works are most often found in the collections of major museums, and rarely are any found in civil society. This work is a masterpiece by Qiu Ying, measuring129 cm in length and 23.5 cm in width. It depicts a poetic composition of the Second Ode to the Red Cliff by the Song Dynasty poet Su Dongpo. It is outstanding in the brushwork, elegant in its poetic feeling, exquisite in its calligraphy and excellent in its seals. Plus, as an old item collected by the Qing royal family and recorded in the Precious Secrets of The Stone Moat, it has been handed down from generation to generation in a clear order for textual research, making it one of the rarest masterpieces.
Another auction lot in the same session, Red Trees and Green Mountains, by Hua Yan was also auctioned at a high price of RMB 19.60 million. Professionals in the industry think that it is very reasonable for such a rare painting, which depicts an excellent landscape and has important inscriptions, to reach a high transaction price. Another two works by Hua Yan, Elegance Residence in the Bamboo and Conversations in the Trellis Shade, also performed very well at the transaction prices of RMB 3.024 million and RMB 358,400 Yuan respectively. Gong Xian’s Ladnscape, a 4-section screen, was auctioned at a price of RMB 4.928 million.
The traditional Chinese painting and calligraphy department also held the special session titled the "Dan Qing Zhu Yan Zhai Collection of Classical Calligraphy and Painting" which sold all 13 of its lots. In particular, Wang Jian's Tall Pines in Cloudy Ravines was auctioned at a high price of RMB 9.856 million, reflecting the positive trends of traditional Chinese paintings and calligraphy. Such a great performance for traditional Chinese paintings and calligraphy in this auction is attributable to the increased market of this sector, continual improvement in collectors' knowledge, and gradual recognition of the deep value of Chinese painting and calligraphy.
The modern and contemporary painting and calligraphy sector continued its warming-up trend from the China Guardian 2007 Spring Auction. In this sector, many excellent items attracted the close attention of collectors and performed very well. As one of the focusal points in the modern and contemporary painting and calligraphy sector, After a Poem on the Pipa by Bai Juyi, a well-known work by Fu Baoshi, incurred highly competitive bidding among buyers inside the room and on the phones, and was auctioned out finally at a price of RMB 7.84 million. New Year's Offerings by Wu Changshuo also reached an auction price of RMB 6.72 million. According to the experts' analysis, such a high auction price is attributed to the fact that it is large in size, depicts an interesting subject, is rich in imagery, and has been published many times by the Tianjin People's Art Publishing House.
In the speical session entitled "Zhang in the South and Qi in the North – Excellent Artworks by Zhang Daqian and Qi Baishi", all 12 of the masterpieces by Zhang Daqian and Qi Baishi were auctioned out at a total transaction value of RMB 35.224 million. An expert in the Painting and Calligraphy Department of China Guardian stated that masterpieces by Zhang Daqian and Qi Baishi have always been the focus in this market sector, and that they enjoy a stable transaction momentum at auction. In particular, the massive work by Qi Baishi, Pine and Eagle, ranked first in the auction session, with a transaction price of RMB 7.92 million. In terms of subject matter, Qi Baishi often compared the "pine and eagle" to heroes. This large version Pine and Eagle was a gift to Xu Beihong in 1928, which gives it high artistic and documentary value. In addition, a gift painting by Qi Baishi to Ai Qing, Loquat and Litchi, was also auctioned out at a transaction price of RMB 2.128 million. Judging from the auction result, artworks created by a celebrity for another celebrity were focused on and recognized by collectors as representing good market potential. Another highlighted artwork by Zhang Daqian (1899-1983), Mountains and Rivers Without End was auctioned at a transaction price of RMB 5.6 million. This painting depicts continuous mountains and rivers, representing a kind of composition rarely seen in Zhang Daqian's works. Bright in green and blue colors, it gives a picture of a sunny and picturesque scene, and is a work favored by experts and scholars who research Zhang Daqian at home and abroad.
Calligraphy works maintained their positive momentum since the spring auction as well, and manifested a trend of increased prices as a whole. For example, Calligraphy in Fiver Character Verse, by the Qing Dynasty calligrapher Yi Bingsui, attracted focused attention from the buyers, and finally reached a high price of RMB 638,400 after intense bidding. In addition to works by famous calligraphers, celebrities' calligraphy was also the focus of much attention and strong bidding, especially those rarely seen on the market and with a rich academic touch. It is worth pointing out that excellent calligraphy items collected by well-known calligraphers were recognized and focused on by buyers. For instance, Longmen Couplet in Running and Regular Script by Fan Zengxiang and previously collected by Liang Jinyu, Calligraphy in Sixteen-word Verse, Regular Script by Shen Yinmo and Calligraphy in Seven-word Verse, Running Script by Wu Hufan, were all very successfully auctioned.
The Contemporary Painting and Calligraphy session selected 101 high-end items and achieved a total transaction percentage of 78.4% by lot and a total transaction price of RMB 19.24 million, with a stable and slightly rising average transaction price. The market has gradually recognized the values and concepts of contemporary painting and calligraphy, and many artworks selected had participated in art exhibitions and were published before being favored in this market. In particular, those artists who work in distinctive languages have injected new blood into the auction of contemporary painting and calligraphy.
Porcelain and Works of Art: Four sections offer a many masterpieces, and a new world auction record for Chinese scholar's articles broken by a Qing Dynasty Qianlong reign imperial ink set.
The four sections of porcelain and works of art in the 2007 Autumn Auction of China Guardian made a total transaction value of RMB 42.68 million. In the section of ink stones, ink, brushes and seals of the Qing Dynasty, a color ink set (ten ingots) decorated with ten scenes of West Lake made in the Qianlong reign of the Qing Dynasty was finally auctioned at a high price of RMB 4.48 million, setting the new world record in the auction of ancient Chinese study items.
Since early 2007, China Guardian has been increasing its proportion of study items. In this Autumn Auction, it organized the first section of study items, covering writing brushes, ink sticks, ink stones and other study items from the Qianlong reign period to the modern era. The auction turned out to be very successful. Many items were sold at high prices. It proved that China Guardian has a forward-looking and accurate market position in this field.
The color ink set (ten ingots) decorated with ten scenes of West Lake made in the Qianlong reign period of the Qing Dynasty auctioned in this section was made by Wang Jie'an, one of the four ink masters in the Qing Dynasty. This set includes ten ink ingots with different colors and shapes. On one side, each ink ingot is inscribed in intaglio with a seven-character regular verse poem on West Lake scenes made by the Qianlong Emperor. On the other side, each ink ingot has an exquisite and colorful shallow relief picture of a West Lake scene, such as "autumn moon over the calm lake ","Leifeng pagoda in evening glow" and "evening bell at Nanping hill".The ink set is kept in its original royal black wooden box with a golden painting of dragon flying in the cloud. This carefully made and well-kept ink set is exactly the same as one kept in the Palace Museum in Beijing and another one kept by the Shanghai Museum.
Another important item in this section is an imperial songhua ink stone made in the Qianlong reign period of the Qing Dynasty. It is one of the best imperial ink stones still in private hands. Similar items all belong to the large museums. The final auction price of this ink stone was RMB 1.288 million. This piece is an imperial ink stone made by the imperial workshop at Zaobanchu in the Qianlong reign period of the Qing Dynasty. The stone is smooth and exquisite with an elegant light green color and a clear and neat shape. Its graphic pattern is simple and flowing, indicating rigorous and careful craftsmanship.
In addition, this Autumn Auction also had three special sessions, including one for jade ware of the Ming and Qing Dynasties, one for rhinoceros horn sculptures of the Ming and Qing Dynasties, and a special section of porcelain. The jade ware session boasted a finely-made white jade goblet carved with cranes, which was sold at the price of RMB 582,400. Another important item in this special section was a pair of lidded jars with green dragon and colorful cloud pattern made in the Qianlong reign period of Qing Dynasty, which sold at a very good price of RMB 1.12 million. This pair of jars have stately shapes and exquisite motifs. We seldom see such a pair of jars with lids left intact. Another important item is an ivory sculpture of a sitting Guanyin Bodhisattva made in the Ming Dynasty. The smooth lines on the sculpture indicate the extremely high ivory sculpting skills of the Ming Dynasty. After hot competition on the auction floor, it was finally sold at the high price of RMB 1.232 million.
Oil Painting, Sculpture, Contemporary Arts and Photographic Arts: total sales value exceeds RMB 190 million– Many top items auctioned
In this Autumn Auction, the three sections of oil painting and sculpture, contemporary arts, and photographic arts achieved a sales value of RMB 190 million. Famous works by established artists scored tremendous auction results. According to Mr. Liu Gang, Art Director of the Oil Painting Department at China Guardian, "when we look at the current market situation, we can conclude that oil painting, sculpture, contemporary arts and photographic arts still have room for tremendous growth. In particular, those important top works still enjoy an impressive upward price trend."
Ship of Chinese Laborers by Cheng Conglin, which is a highly influential art historical work, was auctioned at a high price of RMB 22.96 million. Cheng Conglin is the main representative of the school of "Scar Art". His paintings usually involve serious subject matters, indicating a strong sense of historical responsibility in the painter. Ship of Chinese Laborers was one of his masterpieces. In a realistic manner, this painting expresses the strong will of Chinese people living at the bottom of society who struggled against tremendous hardship.
The section of oil painting and sculpture had four works by Chen Yifei, all of which were auctioned at high prices. Dragon Eyes was sold at RMB 10.192 million. Dragon Eyes is the most characteristic work of Chen's Tibetan series. It uses a close-up perspective. The whole painting is only a head portrait, making the composition quite rich and saturated. The old Tibetan man has sculpted wrinkles and shining eagle eyes that are quite unforgettable. Waiting for the Moon in the Western Chamber, Beauty and Tibetan Girl were sold at RMB 9.296 million, RMB 3.584 million and RMB 3.136 million respectively. This auction tells us that the works of Chen Yifei enjoy stable prices, and are still at the leading position in the traditional oil painting market.
Masterpieces by other famous painters also sold at high prices. After hot competition among buyers, Portrait of Sun Yat-sen by Jin Shangyi was finally sold at the price of RMB 8.96 million. Wisdom and Willpower – Mathematician Chen Jingrun, painted by Wei Jingshan in 1978 was also auctioned at a high price of RMB 4.256 million. The most striking auction was that of Wild Grass Bottomland – My Home painted by Chen Shuzhong. The original estimated price range was RMB 180,000 to RMB 220,000. But due to the hot competition at the auction floor, the final price reached RMB 4.76 million, which was enitrely unexpected. According to the expert, the works of Chen Shuzhong have a unique style and popular subject matter; therefore, they are quite popular among collectors. In addition, such a high price also indicates the maturity of the oil painting collection market. In addition to masterpieces of famous painters, excellent works with unique style also caught attention of the collectors.
The contemporary art section of this Autumn Auction also registered an impressive achievement with a sales rate of 84% and a total sales value of RMB 78 million. After last year's overheating, the contemporary art market has finally cooled down and enjoyed sound and solid growth. The market prices are becoming increasingly reasonable. Fire at Dusk by Liu Xiaodong was sold at RMB6.16 million. Untitled and Sky Series by Zeng Fanzhi were sold at the prices of RMB 5.60 million and RMB 5.04 million respectively. Those prices are largely in line with the current market situation.
Since China Guardian held its first photographic art session in its 2007 Spring Auction, the photographic arts have received more and more attention from domestic collectors. In this Autumn Auction, the photographic art section achieved a sales value of RMB 5.27 million. Though this section is not as hot as contemporary art, it is in the process of winning market recognition. China has already cultivated a market for photographic works. Four Beauties by Liu Zheng was auctioned at a high price of RMB 1.68 million, very heartening news for the photographic art market.
Ancient Rare Books: many masterpieces auctioned; collection of Chen Chengzhong extremely popular
The section of ancient rare books witnessed many eye-catching items. In total 68 items were sold and the total sales price climbed over RMB 9.409 million. China Guardian’s strategy targeted at the high-end market has delivered good market results.
According to Mr. Tuo Xiaotang, General Manager of the Ancient Rare Book Department of China Guardian, the ancient rare book section of the China Guardian Spring and Autumn Auctions is targeted at high-end collectors, a relatively stable collector base. In order to meet the demands of different collector groups, early this year, an ancient rare book session was held in the Guardian Seasons auction. This section turned out to be a great success. As a result, China Guardian has been able to establish a comprehensive rare book business with Guardian Seasons targeted at the broad middle and low-level market and Spring and Autumn Auctions targeted at the high-end market.
Many excellent rare books were auctioned this time. Those books collected by great collectors were extremely popular. Three items previously kept by Mr. Chen Chengzhong are all sold at high prices. The Book Collection of Pine Rain Study (eight volumes), which came back to China from abroad, was finally sold at RMB 1.904 million after fierce competition. The Book Collection of Pine Rain Study was the Laoquan transcript made in the second year of the Xianfeng reign period of the Qing Dynasty (1852). Among the ancient rare books, only the Laoquan transcripts and Maoshi-Jigu Temple transcripts have been identified as the first-grade national cultural relics. The Laoquan transcript pays great attention to the collection of academic classics. This book was transcribed carefully in small regular script. This book has unique academic and literature value. Book Shadow from Song and Yuan Dynasties and Description of Stone Inscriptions were also sold at high prices of RMB 1.792 million and 582,400 respectively. The collections previously kept by high-profile collectors have caught the greater attention of the market, and a sound market atmosphere has been cultivated.
The correspondences category also scored good results. Correspondences of Ming People written by Qin Jin and Qiao Yu, Correspondences from Yu Youren to Jia Jingde written by Yu Youren and Miscellaneous Volume of Ink Marks were sold at prices of RMB 201,600, RMB 69,400 and RMB 72,800 respectively, indicating the strong market potential of the correspondences collection market.
Other three rare books from earlier period were also sold at high prices. The King of Medicine Saving 81 Lives Sutra was the transcript made by the Neifu Government Agency, a royal palace treasury, in the 43rd year of Wanli Period (1615). It was sold at a high price of RMB 392,000. Dharani Sutra with Pictures is a rare overprint copy in early period. It was sold at a price of RMB 201,600. Imperial Shoushi Tongkao (78 volumes) written by E’ertai is the block-printed edition of the Wuying Hall from the Qianlong Reign Period of Qing Dynasty. It final price was RMB 145,600. Collectors loved Records of the Traces of Old Man Zhuo'an because of rare large photos in it. As a bright spot at the auction floor, it was sold at a price of RMB 800,000,
Stamp, Coin and Copper Mirror: active auction of many excellent items, indicating strong market potential
Five auction sessions of stamp, coin and copper mirrors were held from November 11 to 13. Buyers were very enthusiastic and the auctions were highly competitive. The total transaction value reached RMB 34.55 million. According to Mr. Guo Xueguang, General Manager of the Stamp and Money Department at China Guardian, “these sections have made very good results, particularly the highlight items in various categories. The demand far exceeds the supply. On many occasions, several rounds of bidding were required to reach the final price. Such high prices indicate strong potential of the market.
In the section of ancient coins and silver and gold ingots, 50-liang silver ingot made by Silverwork Bureau in the sixth year of Yongle Period in the Ming Dynasty was sold at the price of RMB 1.568 million, breaking the auction price record of silver ingots. This silver ingot was the most important item in the section of ancient coins and silver and gold ingots and therefore it was hotly pursued by buyers. After dozens of rounds of hot bidding, it was finally sold at a price of RMB 1.568 million. This silver ingot made by the Silverwork Bureau of the Ming Dynasty was the only one in the current auction market with the year name mark on it. It has detailed inscription. It was made through rigorous making process and has been well kept. Therefore, it has a superior appearance. That is why it is so precious. According to the analysis of stamp and ancient money experts at China Guardian, this silver ingot has very high historical, archeological and artistic value. Such a high price is quite reasonable. This auction indicates that the silver ingot market is taking off rapidly with expanding collector base and huge market potential.
A 25-liang silver ingot made by the Nei-Cheng-Yun-Ku Treasury in the Ming Dynasty was auctioned at a price of RMB 560,000. This item is the first Nei-Cheng-Yun-Ku silver ingot ever discovered, therefore it has very high collection value and historical value in terms of the study of China’s ancient economic and financial history. A rare Yuande Tongbao of West Xia Dynasty was auctioned at a high price of RMB 537,600, in line with the current market situation.
The section of modern machine-made coins scored a sales value of RMB 9.11 million. A Kuping one-liang golden coin made in the Bingwu Year of the Guangxu Reign Period of the Qing Dynasty was auctioned at a high price of RMB 918,400. The small copper sample of a one-Yuan silver coin with Sun Yat-sen portrait made in the 24th year of the Republic of China, the only one know to exist, kept by the great collector E. Kenn, was also sold at the high price of RMB 896,000. Several machine-made coins made in Jilin Province were also sold at very high prices. The Guangxu Yuan Bao with a value of seven Chien and two Fen made by Jilin Province (renyin) had an original value estimate of RMB 6,000 to 8,000. However, after fierce competition among the buyers, the final price was RMB 168,000.
The copper mirror section had a sales rate of 82.5%, with a total sales value of RMB 5.959 million. One highlight item was the sea-animal grape-pattern mirror of the Tang Dynasty. It has a diameter of 17.3 cm. Its overall layout is unique and exquisite. Its smelting and casting skills are perfect, with a great artistic value. Among all the existing sea-animal grape-pattern mirrors, it is one of the best. It was finally sold at the high price of RMB 694,400, breaking the auction record of copper mirrors in China. The results of bronze seals auction were also good. Almost all of the 74 items were sold. The cultural contents of these bronze seals are perfectly in line with the taste of public collectors; therefore, they are very popular among collectors.
The paper currency section and stamp section also scored excellent achievements. China's paper currency of early periods was still hot and popular, particularly the series of paper currency used in "liberated regions".Many items were been sold at high prices. In addition, the sales rate of early classic stamps was extremely high. A complete set of 25 large-dragon thin-paper stamps of 3 fen value was sold at RMB 145,600. The current arts market is still enthusiastic about stamp collection, indicating a sound market future.
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