China Reveals Top Collectors of Art

Christie’s Asia+:First Open 2014, Hong Kong, October 2014In recent year, art collectors have been popping up over the world, many spending millions to secure collections of art which are deemed priceless around the world.

Forbes claimed the top three collectors in China as,

Eric Chang, Deputy Chairman of Christie’s Asia and International Director of Christie’s Asian 20th Century and Contemporary Art Department; Nick Simunovic, Director of Gagosian Gallery Hong Kong and Bao Yifeng, co-founder of Art021 art fair, and of the Chinese Young Collectors’ Council, an upscale organization connecting young collectors in China.”

These three are expected to spend anywhere from $100,000 upwards to $1 million on their art collections. They are also gaining notoriety as credited art collectors who are buying up collections which until recently seemed invaluable.

All three collectors explained that over the past 18-24 months, the youth has gotten extremely involved in purchasing art collections in China, and the numbers investing is still on the rise. Even though art buying has a social standard attached with it, it is still a family discussion and decision at the end of the day. The judgement and respect of elders still plays a major role before any purchase, but the youth is beginning to gain more power in buying.

Even though the youth has a tight budget compared to their elders when making a personal buy, they are becoming smarter in terms of buying and sending the art to exhibits to display. They understand the value and are slowly beginning to grasp what is popular and what is a good buy for the price.

The potential for youth to grow out of their families shadows is growing daily, and the youth could run the collection game very shortly once the reigns are handed over from the elders.

For more about Etienne, please visit Etienne Kiss-Borlase‘s official website.

Oil Painting To Sell For $300 Million USD

Paul_Gauguin,_Nafea_Faa_Ipoipo-_(When_Will_You_Marry-)_1892,_oil_on_canvas,_101_x_77_cmPaul Gauguin’s art work is considered priceless around the world. Until now, his most famous oil painting ‘Nafea Faa Ipoipo”  is expected to cost the buyer close to $300 million according to the New York Times. The buyer is suspected to be from Qatar, a small oil driven emirate. The United Arab Emirate’s shattered their own personal record in terms of price for painting. Qatar reportedly spent over $250 million in 2011 on ‘The Card Players’ by Paul Cézanne.

The seller of the Gauguin is Rudolf Staechelin, 62 year old retired Sotheby executive, now in Basel, Switzerland. According to the New York Times,  “A family trust owns more than 20 works in a valuable collection of Impressionist and Post-Impressionist art, including the Gauguin, which has been on loan to the Kunstmuseum Basel for nearly a half-century.” The family has faced problems with the Basel and have decided it is best to part ways with the Basel, but believe that Gauguin’s masterpiece is worthy enough to be displayed in a museum rather then their own home. Selling to Qatar puts the oil painting in The Qatar Museums which are located in Doha.

The owner of the painting, Staechelin obtained these paintings in a very obscure manner according to the New York Times, “The works were amassed by his grandfather, a Swiss merchant also named Rudolf Staechelin, who befriended artists and made most of his purchases during and after World War I. Later, the elder Mr. Staechelin advised the Kunstmuseum, which accepted the loan of his collection after his death in 1946.”

For more on the selling of Gauguin’s painting, visit The New York Time‘s take.

For more about Etienne, please visit Etienne Kiss-Borlase‘s main site.