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Treasured Calligraphy Finds No Buyers
Six top auction lots of China's largest auctioneer, Guardian, found no buyers.
The global leader at selling Chinese works of art, Guardian prepared four calligraphic works of Chinese characters made by well-known scholars Zhu Xi and Zhang Shi during the Southern Song Dynasty (1127 - 1279) and another two pieces by Song emperors, which are all enlisted as the state treasures, at its routine Spring auction.
Collectors started bids at 3.5 million yuan (US$420,000) and stopped at 3.95 million, which was a far cry from Guardian's estimated price of between five and eight million.
All state treasures at auctions must be sold to state-owned museums, libraries or other organizations. No such entities were able to pay the expensive asking prices, an auctioneer said.
Guardian is still trying to find potential buyers after the auctions, Kou Qin, vice president of China Guardian Auctions Co. Ltd. said.
However, Kou said, his general view on the Spring auctions was "extremely good," with the total trade volume reaching 71.96 million yuan, eight million more than Guardian's record for Spring auctions.
A landscape by Fu Baoshi, a well-known Chinese painter, was sold for 6.71 million yuan, while another one made by Qi Baishi, also a gifted painter, was auctioned for 1.01 million yuan.
A calligraphy piece by Emperor Qianlong of the Qing Dynasty ( 1644 - 1911) fetched 1.27 million yuan.
Several collectors bid for rare books from the Song and Yuan dynasties (960 - 1368). Experts said rare books from the Ming and Qing dynasties (1368 - 1911) also have high collection value.
The warm response at the Spring auction showed a rising trend in art collecting, said Kou, also a senior auctioneer at Guardian, whose two large-scale auctions in Spring and Autumn are traditionally regarded as market indicators.
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