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Chinanews, Beijing, May 11 – Investment on China’s artwork is decreasing in 2007. The average price of China’s artworks is declining and fewer and fewer artworks are sold out.
According to statistics collected in 2005 and 2006, the number of collectors and investors1 of China’s artworks reached 70 million, or 6% of China’s total population. The trading volume is also amount to 20 billion yuan. But experts are then worried that bubbles might appear in the artworks market existed bubble, as the booming artworks market will not last long. It is estimated that a painting sold in 2004 for 300 thousand yuan, can only be sold at 100 thousand yuan this year. A collector revealed that he bought a painting by a famous painter in 2003, hoping to make some profits, but now its price has slumped2 and he has lost 120 thousand yuan for the sale. Zhou Yueping, a manager of a Hangzhou painting shop, said that investment on artworks is more complicated than investment on securities and real estate. But he also pointed3 out that investors have become more reasonable, which indicates that the artworks market is becoming more mature.
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