BOTH IMAGES: RAVENEL
THE LOCAL MARKET
The Chinese art market is split among
Taiwan, Hong Kong, and mainland
China, each of which has developed
along its own trajectory. The art market
i n T a i w a n i s r e l a t i v e l y s t a b l e c o m p a r e d
with that of mainland China, which has
been inluenced by the recent economic
b u b b l e t h e r e. I n T a i w a n w e h a v e a
long tradition of collecting art. But the
market has an ebb and low, which has
affected contemporary art the most.
We have seen a proliferation of art
fairs here over the past ive years, from
none to nearly a dozen, including Art
Taipei, the Formosa Art Show, Taiwan
Photo Art, Young Art Taipei, Art
Revolution Taipei, the Art Revolution
Taipei, Art Taichung, Art Kaohsiung,
and more. And there are now more
than 10 auction houses hosting sales
of art and antiques.THE COLLECTORS
Until the 1990s, Taiwanese collectors
tended to acquire works by artists they
knew personally or whose careers
t h e y w a n t e d t o n u r t u r e , r a t h e r t h a n
b u y i n g a r t w o r k s a s i n v e s t m e n t s.
W h e n t h e y h a d m o r e t o s p e n d , t h e y
preferred works by Taiwanese masters
or Western artists working in the
Impressionist and modern styles.
Taiwanese artists, who were heavily
inluenced by the Japanese cultural
legacy on the island, were among
t h e i r s t i n A s i a t o e m b r a c e W e s t e r n
styles of painting. As a result, Tai-
wanese collectors tended to favor
these styles. In contrast, many main-
land artists who settled in Taiwan
maintained traditional Chinese
practices, executing works—paintings
and calligraphy—in ink and wash.
Not surprisingly, collectors from
the mainland who took up residence
i n T a i w a n o f t e n g r a v i t a t e d t o w a r d
these art forms.Since 1998, however, the Taiwanese
art market has moved toward parity
with that of the mainland, and there is
much greater dialogue not only among
artists but also among collectors,
who have become more selective and
astute buyers. They have continued to
support local artists despite turbulent
economic times and, in recent years,
have broadened their interest in buyingart from elsewhere in Asia, especially
in Japan, Korea, and India. Over
the past decade, cartoon and anime
c u l t u r e , a s w e l l a s r e l a t e d i t e m s s u c h
as plastic igures, toys, and dolls,
have gradually become a part of the
mainstream art scene, and a collectors’
market is now building via social
media platforms such as Facebook,
Weibo, and the blogosphere. This
trend is further boosted by celebrities
w h o , a s p a r t o f t h e i r s t r a t e g y t o e n h a n c e
their mass appeal, write about
personal experiences at art shows or
with buying Pop art items.W e h a v e a l s o s e e n o u r c o l l e c t o r
base grow, with a number of new faces
appearing. As the portfolios of auction
houses are becoming more diversiied
and less orthodox, the composition
o f m a n y a u c t i o n c r o w d s i s a l s o i n t h e
process of undergoing subtle changes.PUBLIC SUPPORT
The government has yet to offer much
support for the local art scene in
Taiwan. Although some artists may
ind state patronage, it does not extend
to galleries or auction houses. Most
support for the arts, and for culture
more generally, comes from individual
collectors or entrepreneurs.READING THE TEA LEAVES
I believe that over the next ive years,
contemporary art will continue to
lourish, attracting more and more
young art lovers. Sotheby’s, Christie’s,
and Bonhams have recently hired
Taiwanese specialists to help them
d e v e l o p b u s i n e s s i n t h i s s e c t o r o f t h e
Chinese art market. And on New Year’s
Day the new Taiwanese government, the
Democratic Progressive Party (dpp),
lowered taxes paid by art dealers to
boost the market, at both the primary
and secondary levels, and to increase
international competitiveness.Odile Chen i s h e a d o f t h e H o n g K o n g b r a n c h o f T a i p e i -
based Ravenel International Art Group, which
was established in 1999 with the aid of Parisian auction
house Drouot to bring modern and contemporary
European art to Asia. Since then, Ravenel has expanded
its reach to Hong Kong, Beijing, and Shanghai.Ta i w a n
Preview of Ravenel’s
November 2015
auction of modern
and contemporary
art at their Hong
Kong outpost.BLOUINARTINFO.COM | MARCH 2016 ART+AUCTION89