In 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.