China joins the Big 3 – in Antiques and Art

At least in art officialy, but you gotta figure antiquities and antiques – which China has been placing ever-tightening restrictions on – make up a big part of this number, and represent a huge figure in and of itself.

This is interesting news released by China’s official state news agency, Xinhua, about the mainland now being number three in art sales, displacing France.

The U.S. and U.K. are sitting pretty in first with huge market shares, but – as with almost every market – look out for the Chinese boom. I’m sure India isn’t too far behind.

China has been ripe for a while for an explosion in art and antiques. When The Cultural Revolution destroyed thousands of years of Dynasty, a lot of the classic art and antiques went into hiding in the vast countryside. Now all of that has been coming out and the prices are exoribitant in many cases – that’s if you can get it out of the country.

The government there knows now what it’s cultural heritage is worth, even if they forgot for a couple of generations. Now it’s cashing in.