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80% of Paintings in Private Collections Are Fakes
Art knowledge needs to be upgraded in China , artists said at a recent meeting sponsored by the bimonthly magazine Rongbaozai. They said 80 to 90 percent of paintings in private collections are fakes , including works on which huge amounts of money were spent, according to the latest Beijing Review.
With the rapid development of China's economy , rich Chinese are seeking out various forms of investment. Because of this, art collection has become hot in recent years. Noted art critic Liu Xilin revealed that Shandong Province spent more than several hundred million yuan in 2000 to purchase art works produced in other provinces. A number of collectors own private collections worth more than 10 million yuan each.
Because of their lack of artistic discernment , collectors bought many fakes alleged to be the works of great masters. This damaged the art market and devalued legitimate works. At the end of last year , the masterpiece Donkeys by Chinese painter Huang Zhou was sold at auction for only 1,000 yuan.
The critics said the media, especially the arts media, should do more to popularize art and upgrade art appreciation. Only after art awareness of the entire society improves, can the art market reverse the chaotic situation.
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