There’s this Cantonese restaurant out in Shanghai’s Putuo District where my friend G., a Shanghai school teacher, and I used to go for dinner on a semi-regular basis. It’s one of those massive places you only find in China – maybe 200 – 300 tables spread out over the entire third floor of an office building. At the far end, against the wall which hides the kitchen, is a stage, and toward the end of the dinner rush – say, around 8:00 PM – a gravelly-voiced MC with slicked-back hair and a red satin coat gets up to introduce the entertainment. It’s been a while since I was last there (and frankly I can’t say that the joint still exists), but I remember two acts, in particular: the second to last is always a traditional song-and-dance number, featuring attractive young women in their early twenties at the oldest, who danced their steps with the precision of new students. And following that, and most important (to the restaurant and its patrons), is the art auction.
I thought of that restaurant, and those art auctions, when, on Friday, the New York Times ran a very interesting and overlooked piece on the record-breaking prices paid for middling-to-poor Chinese artworks at Christie’s on September 14 and 15. According to the Times, Chinese bidders – sometimes bidding through Hong Kong dealers – bid up some work of art tens and even hundreds of times Christie’s estimates. For example, a dubious vase from the Qianglong reign, estimated at US$2000 – US$3000, sold for $550,000; other pieces went for similarly inflated values.
At the opening of the piece, the author, Souren Melikian, posits two possible explanations for these prices, first suggesting that they are an indicator of a buoyant economic mood in China, and then – with arched brow – offering this: “What is most remarkable is the part played by new bidders unfamiliar with the finer nuances of the art they are chasing and the traditional hierarchy of aesthetic values.” Continue reading
