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CHINA IS THE WINNER IN THE ART MARKET IN THE PAST DECADE!

 
 
China jumped from ninth place to first place in 2010, becoming the world’s largest auction marketplace for Fine Art, overtaking the United States and United Kingdom. In addition,  the dramatic evolution of the internet and its 2 billion and a half users have caused a speedy acceleration of online art sales. All this is reported by Artprice, the world leader of art market information. China not only played an important role in the global economic recovery, it also seized the limelight in cultural, art  and sports events. Expressing the pride of Chinese culture it took the global auction prices to new heights. And what I have commented about before — prices of Chinese artists have not only closed the gap but overtaken Western artists and art works. 
 
So it is no surprise that the Ullens Collection auctioned off at Sotheby’s Hong Kong on April 3, 2011 brought new record prices for contemporary Chinese art.