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The China Guardian 2018 Spring Auctions concluded on June 22. Five days of spring sales, with a total of 42 special sessions, raised 2.05 billion yuan, highlighting the 25th anniversary of its establishment.
The accomplishments of this year's spring auctions are remarkable: Two lots were sold at over 100 million yuan each, hammer prices of 30 lots were more than 10 million yuan each, 16 lots broke records and eight sessions achieved a 100 percent transaction rate.
They exactly mirror the consistent trust and support of our new and old collectors and the effort made by China Guardian staff in the past 25 years.
In the span of five days, collectors not only added rare and precious items to their collections, but also gained a sincere friendship with China Guardian and saw clear signs the art market is still healthy and prosperous.
China Guardian Director and President Ms. Hu Yanyan.
Ms. Hu Yanyan, president of China Guardian, said the art market is still healthy and prosperous, and she summarized the Spring Auctions thusly:
1. Structural adjustment: With adjustments on the collectors' components, more new buyers emerged while old buyers remained active. New buyers shared a greater purchase percentage for lots.
2. Balanced and natural: Among popular and unpopular sections, good results appeared in each category. One thing of note: For the first time, a lot presented by the Rare Books, Rubbing and Manuscripts Department has surpassed 100 million yuan in auctions. There were also 12 paintings in the contemporary art sale which sold for more than 10 million yuan. Li Keran's Thousands of Mountains, the Song engraved collection Shi Bi Jing She Yin Zhu Tang Shu Xiang Jie edited by Chen Jian, and Qian Weicheng's Flora topped spring sales. China Guardian has always been pursuing organic transactions, respecting the market and keeping transactions authentic.
3. Popular but not impetuous: The spring auctions brought good news. From the perspective of the economic environment, the liquidity of funds has been tightened, so collectors and investors are more rational in making choices for their favorite lots. But their love for art and confidence still exist, and enthusiasm still wins out when they see rare treasures.
8 "white glove" sales (100 percent transaction rate)
·Treasure from Linglongshi Studio: Literary Artworks Collected by Ma's Family
·Fall out of Body and Mind-Inoue Yuichi's Ink and Mark
·Fine and Rare Kweichou Mou-tai Chiew
·Collection of Yingxing Zisha Pottery by Song Taoyuan
·European Modern Furniture of Ming Style
·WEI YU-Important Scholar's Studio Objects from Mu Xin Zhai Collection
·Pronunciation and Abstract of the New Book of Tang from Shibi Jingshe
·Shuiguitang's Ancient Coin Collection
16 record-breaking lots
·Shi Bi Jing She Yin Zhu Tang Shu Xiang Jie edited by Chen Jian: 110.4 million yuan, highest among rare books
·Qian Weicheng's Flora: 66.7 million yuan, highest among his album work
·Zhou Chunya's Chinese Stone: 43.7 million yuan, highest among his stone series work
·Ai Xuan's Aspirant: 24.38 million yuan, highest among his work
·Pang Xunqin's The Wenfeng Tower: 17.825 million yuan, highest among his work
·Yu Feian's Flower and Bird: 14.95 million yuan, highest among his album work
·Hu Shi's Manuscript: 11.50 million yuan, highest among his single-volume work
·A shoushan tian-huang square plain seal carved by Wu Rangzhi: 9.2 million yuan, highest
among his seal carving work
·Xiong Honggang's Taihang Mountain: 6.9 million yuan, highest among his work
·Ni Yide's Flower: 5.75 million yuan, highest among his work
·Su Tianci's Locust-tree Flower: 5.29 million yuan, highest among his flower series work
·Zhu Zhengeng's Ode to Happiness: 3.22 million yuan, highest among his work
·Song Buyun's The Blooming Chinese Rose: 2.07 million yuan, highest among his oil painting work
·Inoue Yuichi's Calligraphy:1.4375 million yuan, highest among his work
·A box of Mou-tai Chiew made in 1984: 2.4725 million yuan, highest among Mou-tai Chiew auctions
·T46 monkey stamps, whole sheet, VF-XF: 1.6675 million yuan, highest among monkey stamp sales
Chinese Painting and Calligraphy
Vice-president and Chief of the Chinese Paintings and Calligraphy Department, Guo Tong
This year's Chinese calligraphy and painting section raised 1.02 billion yuan. While we reduced the number of lots, we focused on the rich background of the auction items in order to conform to collectors' adjustments in ideas and tastes. In the session "Grand View: Chinese Paintings Highlight · Modern", Li Keran's Thousands of Mountains earned the world's highest price for the Chinese calligraphy and painting section this season, and an old treasure of Cai Yuanpei, founder of China's modern education system, also garnered a high hammer price. At the same time, more than 10 rare works from Qi Baishi, Fu Baoshi, Xu Beihong, Huang Binhong, Shi Lu and Yu Feian were traded for over 10 million yuan.
In the "Grand View: Chinese Paintings Highlight · Classical" session, Qian Weicheng's Flora and Zhu Da's Plum were sold for high prices after several rounds of fierce competition. The small session "Treasure from Linglongshi Studio: Literary Artworks Collected by Ma's Family" was highly sought after for its literary perspectives on cultural landscapes. "Fall out of Body and Mind-Inoue Yuichi's Ink and Mark" was the world's first special session for Inoue Yuichi.
All these have become the highlights in this season's Chinese painting and calligraphy sales. At the same time, we noticed some highly touted works have regrettably remained unsold during a weak economic trend, resulting in a decline in the transaction rate for Grand View night sessions. The lively competition in the day sessions indicates works in the low-price interest section still have sufficient market vitality, and we have noticed the auction atmosphere in contemporary ink painting and the level of participation from collectors have both greatly improved compared to the past. New lists and directions have been further established for future auctions, while more ink paintings have been created by young painters. We are also seeing the reinvention of new literati paintings and other creative phenomena.
Modern and Contemporary Chinese Painting and Calligraphy
General Manager of the Modern and Contemporary Chinese Painting and Calligraphy Department, Dai Wei
The auction scale remained the same this spring. During the three-day Modern and Contemporary Chinese Painting and Calligraphy auctions, there are many memories and touching moments: Li Keran's Thousands of Mountains reached a high price of 126.5 million yuan, breaking a record for this year's global Chinese painting and calligraphy sales; carefully selected session "Fun Collection" got a turnover rate of 92%, showing the toughness and confidence of the sale of middle-price lots; and "Treasure from Linglongshi Studio: Literary Artworks Collected by Ma's Family" session reached a turnover rate of 100 percent…The market is always evolving in adjustment, and keeps on changing. There is no absolute good or bad when describing the art market. As long as we love art, there will always be a market for artworks. China Guardian will continue insisting on doing the right thing and persevere at our own pace.
Lot 376
Li Keran
Thousands of Mountains
Hanging scroll; ink and colour on paper
180×97 cm
Price realized: RMB 126,500,000
Lot 371
Qi Baishi
Offering
Mounted for framing; ink and colour on paper
67.5×132.5 cm
Price realized: RMB 40,250,000
Lot 317
Xu Beihong
Three horse in the autumn woods
Horizontal Scroll; ink and colour on paper
91×180.5 cm
Price realized: RMB 34,500,000
Lot 333
Fu Baoshi
Beauty
Mounted for framing; ink and colour on paper 114×58 cm
Price realized: RMB 25,300,000
Lot 348
Huang Binhong
Landscape of North Mountain
Hanging scroll; ink and colour on paper
100.5×49 cm
Price realized: RMB 18,400,000
Lot 332
Fu Baoshi
Beauty by Willow
Mounted for framing; ink and colour on paper
105.5×42 cm
Price realized: RMB 17,825,000
Lot 1238
Inoue Yuichi
Calligraphy
Ink on paper, Mounted for framing
146×228 cm
Price realized: RMB 1,437,500
Classical Chinese Painting and Calligraphy
General Manager of the Classical Chinese Painting and Calligraphy Department, Luan Jingli
Ancient calligraphy and painting sales in this season basically maintained a turnover rate of around 65 percent. Aside from the Grand View evening sale or the day sales, the high-quality lots that raised paddles from low starting prices but resulted in high prices were particularly eye-catching in this season's auctions, such as Qian Weicheng's Flora, Jin Nong's Calligraphy in Clerical Script, Zhu Da's Plum and Zheng Xie's Bamboo and Orchid.
The overall quality of ancient paintings and calligraphy works was remarkable. The road shows in Shanghai and Shenzhen, and the Beijing preview were well-received. Because of the positive adjustments in the market, both the transaction rate and the turnover have declined. Due to higher requirements on the quality of the lots and caution on dispatch funds, customers raised their paddles with reserve.
Because of high estimate prices, many remarkable lots stayed unsold, such Dai Cang's Hermit with Zither, Wang Hui's Spring in South and Zhao Mengfu's Landscape and Calligraphy. Time will prove their value.
We will follow the changes of the market, further adjust the auction layout and reduce the number of lots, in order to make a more robust advance.
Lot 404
Qian Weicheng
Flora
Album; ink and colour on paper
27.5×37 cm（each）
Price realized: RMB 66,700,000
Lot 409
Zhu Da
Plum
Hanging scroll; ink on paper
125×34 cm
Price realized: RMB 34,500,000
Lot 413
Wang Hui
Village by Water
Hanging scroll; ink and colour on paper
101.5×62 cm
Price realized: RMB 9,200,000
Lot 403
Zhang Zhao
Calligraphy after Dong Qichang
Handscroll; ink on paper
7.5×113 cm
Price realized: RMB 7,820,000
Lot 407
Wu Dacheng
Flora
Album; ink or ink and colour on paper
Painting: 20.2×35.7 cm（each）
Calligraphy: 26×39.5 cm（each）
Price realized: RMB 5,175,000
20th Century and Contemporary Chinese Art
General Manager of the 20th Century and Contemporary Chinese Art Department, Li Yanfeng
Total turnover for 20th century and contemporary art was 393 million yuan, the second highest in our history. There are 12 lots exceeding 10 million yuan, and six record-breaking collections. For many years, China Guardian has insisted on its path and continued guiding the market, which has gained recognition from our customers.
Collectors' attention became much more focused on several highlight lots – some lots were sold at 10 times their estimate prices, and some drew more than five buyers bidding at the same time. The consensus of the market is becoming clearer and clearer, which is to say collectors are gaining a much more unified understanding of quality standards for fine works. This is the result of common effort in every sector of the art market ecological chain, and also the foundation of a heathy and prosperous market.
In addition, these fine works can be sold at record high prices, fully showing the progress of collectors, the market and recognition for high-quality items in the current market.
This also represents new requirements to us from the market — to maintain high quality and set more accurate estimate prices. It will make us keep progressing, and further guide the market to become much healthier and more rational. Further prosperity in the art market is just around the corner.
Lot 1836
Zhou Chunya
Chinese Stone
Oil on canvas
149.5×129 cm
Price realized: RMB 43,700,000
Lot 1839
Zhang Xiaogang
Bloodline: The Big Family No.1 149×189.5 cm
Price realized: RMB 40,250,000
Lot 1853
Jin Shangyi
Monk Painter Kun Can
150.5×114 cm
Price realized: RMB 28,750,000
Lot 1851
Ai Xuan
Aspirant
94.5×74.5 cm
Price realized: RMB 24,380,000
Lot 1855
Chen Yifei
Melody
130×202 cm
Price realized: RMB 20,700,000
Lot 1852
Jin Shangyi
Nude
64×52 cm
Price realized: RMB 18,400,000
Lot 1885
Pang Xunqin
The Wenfeng Tower
80×80 cm
Price realized: RMB 17,825,000
Lot 1802
Yue Minjun (b.1962)
Time Drama
Oil on canvas
191×200 cm
Price realized: RMB 16,100,000
Lot 1854
Chen Yifei
Prophesy Teller
Oil on canvas
117×137.5 cm
Price realized: RMB 14,720,000
Lot 1841
Zeng Fanzhi
The Mask Series No.17
Oil on canvas
178.5×149.5 cm
Price realized: RMB 13,800,000
Lot 1845
Liu Ye
Red Yellow Blue（set of 3）
Acrylic on canvas
45×60 cm×3
Price realized: RMB 11,500,000
Lot 1846
Liu Ye
Composition with Bamboo and Grass
Oil on canvas
300×220cm
Price realized: RMB 10,350,000
Porcelain and Works of Art
General Manager of the Porcelain Department, David Yu
This year marks the 25th anniversary of China Guardian. With the support of collectors, we have been lucky to collect many excellent lots, and there are highlights in every session. An extremely rare imperial blue and white with yangcai peach blossom vase from the Qing Dynasty's Qianlong period (1736-1795) was no doubt the most popular item at the auction. It was sold at a very high price of 50.6 million yuan, as expected. The main items, including an imperial kiln from the Yongzheng period (1723-1735), were bid for and sold at the auction. A rare painted enamel "mille-fleurs" bowl from the Yongzheng period was also sold at the high price of 8.97 million yuan. The Chinese Jades and Scholar Items session also had many highlights. A rare and finely carved jadeite "dragon" censer and cover from the Qing Dynasty (1644-1911), an old collection of collector Xu Shichang, had a high turnover of 7.59 million yuan, and another cinnabar lacquer carving of a five-dragon lobed box and cover from the Qianlong period (1736-1795) had a turnover of 1.38 million yuan. In addition, a lot of low-priced porcelain fueled intense competition among collectors, and was sold far higher than the bottom price. The Buddha Statue session was also extremely popular. A gilt-bronze figure of Amitayus of Mongolia was sold for 8.28 million yuan. As for purple clay potteries, the Collection of Yingxing Zisha Pottery by Song Taoyuan session achieved a 100 percent turnover rate. We were also delighted to see both previews and auctions for porcelain and works of art were popular with the masses, and attracted many new buyers who bid actively in many sessions.
Lot 2630
An extremely rare imperial blue and white with yangcai "the peach blossom" vase
Qianlong seal mark and of the period (1736-1795)
H: 55.2 cm
Price realized: RMB 50,600,000
Lot 2606
A rare painted enamel 'mille-fleurs' bowl
Yongzheng four-character mark and of the period (1723-1735)
D: 10.2 cm
Price realized: RMB 8,970,000
Lot 2668
Qing Dynasty (1644-1911)
A rare and finely carved jadeite ‘dragon' censer and cover
H: 16 cm W: 16.8 cm H: 24 cm
Price realized: RMB 7,590,000
Lot 2644
Qing Dynasty, Qianlong period (1736-1795)
A cinnabar lacquer carving of five-dragon lobed box and cover
D: 35.5 cm
Price realized: RMB 1,380,000
Lot 3207
A purple clay teapot by Gu Jingzhou
Republic of China, 20th Century
W: 15 cm
Price realized: RMB 3,852,500
Lot 3084
Mongolia, 17th/18th Century
A gilt-bronze figure of Amitayus
H: 35.3 cm
Price realized: RMB 8,280,000
Fine Wines and Mou-tai Chiew
The Fine and Rare Kweichou Mou-tai Chiew session, raised the hammer on the first day of the spring auction and achieved a 100 percent turnover rate. After three hours' fierce bidding, 106 items sold out with a total turnover of 41.53 million yuan, a new record for Mou-tai Chiew auctions. The average price for each lot was 392,000 yuan, and lot No. 3529 — a box of Mou-tai Chiew made in 1984 — broke a record for sale price of a single lot in Mou-tai Chiew auctions, demonstrating recognition and esteem by the market for Mou-tai, the national liquor.
286 finely selected lots from the Fine and Rare Wines of the World session received recognition from the market, with a total turnover of 11.08 million yuan and a turnover rate of 88 percent. The session attracted many professional wine collectors who showed passion for the items from beginning to the end. We were pleased to see the great enthusiasm they showed.
Lot 3529
A box of Mou-tai Chiew made in 1984
12 bottles/540ml（1box×12 bottles）
53%vol
Price realized: RMB 2,472,500
Lot 3688
Chateau Lafite Rothschild Vertical Set - Vintage 1981-2014
34 bottles/750ml
Price realized: RMB 287,500
Furniture and Works of Art
General Manager of the Works of Art Department, Qiao Hao
A carefully prepared seven sessions of works of art sales earned a total turnover of 150 million yuan. Whether traditional or exploratory sections, all achieved expected results.
After more than half a year's preparation, the Graceful Companions-Fine Classic Furniture of the Ming and Qing Dynasties session gathered many eye-catching collections, including furniture made of rosewood and padauk, and four Huanghuali armchairs inlaid with marble panels. In the current market environment, we are able to achieve such results, showing our enhancement of academic strength, which was demonstrated by the furniture auction at China Guardian. Guqin sales have been growing rapidly these years. Compared with other instruments, the guqin is more expressive and rich in cultural significance, with a beauty Chinese people understand best. The national stone seal engraving sales also saw good result. Apart from natural stones, we presented other stone carving works with cultural connotations, such as the seals carved by Wu Rangzhi. Scholarly items included a session for WEI YU-Important Scholar's Studio Objects from the Mu Xin Zhai Collection. This achieved a good result, with a 100 percent turnover rate. The Fine Scholar's Studio Works of Art session was mainly made up of modern scholarly items such as rocks and odd wood, which meet modern people's needs for lifestyle and decorative items. This was an interesting change. Finally, I thank collectors for your trust and support. I am looking forward to seeing you in autumn!
Lot 4513
Early Qing Period
Four Huanghuali armchairs inlaid with marble panels
53×41×91 cm×4
Price realized: RMB 27,025,000
Lot 4540
Middle Qing Period
Zitan carved couch-bed decorated with gold tracery landscape and birds patterns, and a Zitan Kang-table
Bed: 194×126×113.5 cm
Kang-table: 78×44×28.5 cm
Price realized: RMB 11,500,000
Lot 4509
Late Ming/Early Qing Period
Huanghuali armchair with four protruding ends and burl-wood backrest
62.5×63×108.5 cm seat surface: 55.5×49 cm
Price realized: RMB 5,520,000
Lot 4268
A Qingtian Stone Seal Carved By Zhao Zhiqian
4.4×4.3×5.4 cm
Price realized: RMB 9,200,000
Lot 4438
A shoushan tian-huang square plain seal carved by Wu Rangzhi
3×2.9×6.2 cm; 141g
Price realized: RMB 9,200,000
Lot 4437
A shoushan tian-huang square seal sculpted with lioness and cub sculpted by Yang Yuxuan
4×4×5 cm; 164g
Price realized: RMB 6,670,000
Lot 4608
Song Dynasty
An exceptional lacquered guqin with shi shang liu quan inscription
L: 102.2 cm
Price realized: RMB 8,050,000
Lot 4605
Song Dynasty
An exceptional lacquered guqin from Wei Chung-Loh collection
L: 123.3 cm
Price realized: RMB 7,820,000
Lot 4665
Qing Dynasty, Qianlong Period
A gilt-splashed bronze censer
H: 22.6 cm W: 2704 g
Price realized: RMB 1,955,000
Rare Books, Rubbings and Manuscripts
General Manager of the Rare Books, Rubbings and Manuscripts Department, Song Hao
The two sessions of the rare books, rubbings and manuscripts categories – Rare Books & Rubbing Books and Letters and Manuscripts – achieved an average turnover rate of 83 percent. This result shows we have an accurate position in the market, and our insistence on academic culture has also been recognized by the market. The continuous entry of new buyers is one reason for the high turnover rate, reflecting great interest in the gold-lettered signboard at China Guardian's ancient books sales.
A Song engraved collection Shi Bi Jing She Yin Zhu Tang Shu Xiang Jie, edited by Chen Jian, set a world record for the rare book sale, with a transaction price of 110.4 million yuan. This large infusion of capital will bring new changes to the collection structure of the ancient book market in the future. We were very lucky to present the legendary block-printed book at China Guardian’s 25th anniversary, which gained unanimous praise from experts and scholars in the field and a large number of collectors. A 1918 manuscript by Hu Shi was also dealt, with a turnover of 11.5 million yuan, setting a new record for a single work by Hu Shi.
The 155.8 million yuan garnered by rare book sales serves as recognition and feedback from the market for our efforts.
Thanks for all the guests and friends who have always trusted and supported us. They are the backbone of the ancient book collection market, and also the most solid backing for our auction work. In the future, we will keep a professional and practical working attitude to achieve greater success.
Lot 2252
Edited by Chen Jian
SHI BI JING SHE YIN ZHU TANG SHU XIANG JIE
Block-printed Edition in Song Dynasty
51 Volumes?Paper
9.4×6.5 cm
Price realized: RMB 110,400,000
Lot 1960
Hu Shi
MANUSCRIPT
Manuscript in 1918
1 Volume?Paper
24.2×14.7 cm
Price realized: RMB 11,500,000
Lot 2180
Inscribed by Weng Fanggang and Wu Hufan
STELE OF WEN YANBO IN TANG DYNASTY
Rubbing Book in Song Dynasty
1 Volume?Paper
21×11 cm
Price realized: RMB 2,530,000
Lot 1998
Zhao Zhiqian
CALLIGRAPHY IN RUNNING SCRIPT
Manuscript in Qing Dynasty
1 Scroll?Paper
51×74.5 cm
Price realized: RMB 2,415,000
Lot 1992
Hong Yi
CALLIGRAPHY IN RUNNING SCRIPT
Manuscript in Modern Period
1 Piece?Paper
26×68.5 cm
Price realized: RMB 1,725,000
Stamps, Coins, Silver Sycees and Banknotes
General Manager of the Stamps, Coins, Silver Sycees and Banknotes Department, Guo Xueguang
Stamps, coins, silver sycees and banknotes sales also concluded, with highlights from all seven sessions.
Where stamps are concerned, monkey stamps beat out last year's highest price and set a new record in the market. Ancient coins from the Spring and Autumn and Warring States Periods were presented at the Shuiguitang's Ancient Coin Collection session, and won approval from collectors. All 450 lots were sold out, creating a total turnover of nearly 20 million yuan. This is a great achievement in the field of ancient coin auctions. In addition, Shih Kalgan's Collection and Medal session was introduced for the first time, attracting many medal-collecting connoisseurs to attend, and medals with historical values received great recognition. The success of these two sessions fully shows the "weathervane" role of China Guardian's stamps and coins auctions on the market.
In our regular sections, banknotes, mechanism coins and sycee sales all had very good performances, with an ideal overall turnover and turnover rate. This is the result of our joint efforts and good knowledge of the market.
Lot 6035
Ming Dynasty
A set of silver lotus stand with golden cup
Price realized: RMB 1,955,000
Lot 9676
T46 monkey stamps, whole sheet, VF-XF
Price realized: RMB 1,667,500
Lot 8815
The album of RMB specimen, XF-UNC
Price realized: RMB 1,380,000
Lot 7015
Warring State Period, State of Qi, "齊返邦長大刀" with "上" knife money, 185mm, EF
Price realized: RMB 1,046,500
Lot 6129
Boris Chaliapin
Song Meiling original TIME
27×31 cm 21×29 cm
Price realized: RMB 943,000
China Guardian 2018 Spring Auctions truly embody trends in the auction market, as well as the artistic, academic and historical value of its pieces. It provides rational, academic and professional guidance for the market. The sale is a vivid interpretation of the company's insistence on professionalism, its market orientation and sticking to the concept of good-faith management since its founding 25 years ago, and also a new starting point for China Guardian. China Guardian will never forget its original mission — always adhere to the future, stick to professionalism, academics, service and character. In the future, China Guardian will be calm and steadfast, and always keep moving.
We look forward to a prosperous future for China Guardian!
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