Research On Auction Prices Of Modern Chinese Traditional Paintings

In the auction of artworks in China, modern Chinese traditional paintings hold a very important position. Their sale accounts for about 80 percent of the total sale of artworks in China. The auction market of modern Chinese traditional paintings developed very rapidly in the past five years and put forward a lot of subjects for researchers. However, the present studies on these subjects are so few that they can't meet the needs of the market. This thesis studies a couple of important ones among these subjects.The preface mainly explains the selection of the subjects and its effects, the theory foundation, the research methods and the framework of the thesis.Chapter One explores the functions of auction and the characteristics of artwork auction, which is the foundation of the study on the auction price of modern Chinese traditional paintings. Auction is a quite suitable trading way of the goods that has no easily measured value, so it plays a decisive role in the trading of modern Chinese traditional paintings.Chapter Two describes the characteristics of the market of modern Chinese traditional paintings, its development and its effects on the auction market. Its market is made up of the market of individuals, the market of painting galleries and the market of auction houses. These three markets show an obvious feature of ladder like distribution and auction market is at the top, which is based on the other two markets on one hand and leads the trends of the market of modern Chinese traditional paintings on the other hand.Chapter Three studies the development and characteristics of the market of modern Chinese traditional paintings and analyzes the future of its auction prices. This market is closely connected with the development of China's economy. The direct factors that influence this market are the growth of the rich class, the domestic cultural trends, the gross amount of the available capital, the investment channels of individuals and private enterprises, etc. In recent years, the supply of modern Chinese traditional paintings keeps stable in general, but the demand bas been keep increasing as the whole country is getting richer and the art appreciation level is rising. Therefore, the prices of modern Chinese traditional paintings will keep an upward trend in the near future.Chapter Four starts from the theories and methods of assets evaluation, analyzesthe characteristics of modern Chinese traditional paintings, studies the application conditions and operation procedures of market pricing method in the auction price evaluation of modern Chinese traditional paintings, and puts forward a new method of auction price evaluation. In this chapter, the effects of this new method and the traditional expert auction price evaluation have been studied in a positive way and the better effects of the new method have been proved.Chapter Five discusses the design and application of the auction price indexes of modern Chinese traditional paintings. On the basis of exploration of the present indexes of artworks and Chinese traditional paintings, this chapter points out the limitations of these indexes in observing the auction market of modern Chinese traditional paintings and redesign a new set of auction-related price indexes with improved computing methods. With the help of information from this set of indexes, this chapter analyzes the characteristics of the whole auction market of modern Chinese traditional paintings and gets some very useful reference information for collecting and investing of modern Chinese traditional paintings.The concluding part sums up the achievements and limitations of this thesis and gives some suggestions on further studies. This thesis's limitation is that its study on the price information is not extensive. In fact, the research could have been more in detail. The main suggestion is that further research should be conducted from the perspective of marketing and economics to provide information with higher economic value.