Asian artists shine despite tough times

  • January 13, 2010 12:14

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"Bloodline Big Family, No. 2" by Zhang Xiaogang. Christie's.
WSJ

The global recession seems to be making Asian artists the new stars of the art market. Five Asian artists ranked among last year's top 10 money-makers world-wide, according to Artprice. At Sotheby's autumn sale in October, around 47% of the buyers of contemporary Asian works came from mainland China, compared with just 10% the previous April. Prices for works from 1994-1998 by Zhang Xiaogang, one of China's top-selling painters, continue to reach record levels while less sought after artists have seen their prices decline 30% or more. ...

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