Participants of a public appraisal activity in Shanghai last November
With so many Chinese eyeing the booming antique market, sohu.com recently conducted a survey about the appraisal industry. Of the 671 netizens who participated, 62 percent said they do not trust industry experts to give accurate appraisals, 27 percent said it depends on certain variables, and about 10 percent said they generally believe the appraisals of antique experts. An overwhelming 94 percent of participants believe that the industry should receive stricter supervision to avoid creating chaos in the market. In an industry in which reputation is the key to survival, how are these businesses drawing such suspicion?
Threats to market stability
According to a forum held in Beijing, there are currently 70 million private collectors in China, making artwork the third most popular means of investment in China today, after stock and real estate. The growing market for art collectors has proved the old saying that "people collect gold in turbulent days, but in times of growth investors begin collecting," and has provided more interest in related industries like antique appraisal agencies, antique appraisal expert training institutes and even some appraisal-centered TV shows.
However, certain recurrent problems have developed alongside this boom, such as appraisal agencies issuing illegitimate certifications as common practice, training institutes promoting fast-track appraisal programs, and antique experts making incorrect evaluations of objects. Many people, both experts and common collectors alike, are worried about this abnormal and unhealthy development within the art and antiques industry.
"In the past, antique sellers knew that 'You sell nothing in three years but can be fed for three years once you sell one piece,'" an antique dealer from Xinjiang, surnamed Xin, told the Global Times. "But now, this situation has changed to 'You cannot benefit from selling true pieces, but you can be fed for three years if you sell fake pieces.'"
Lack of oversight
One of the main reasons for this chaos is the dearth of government-authorized appraisal companies in the face of increasing public demand.
"The government hasn't authorized any appraisal companies, so people are sending their 'antiques' to whatever place they can find to judge whether it's real or fake," said Zhang Jianhong, owner of Tian Baoge Arts and Crafts Shop in Shanghai. Nowadays, the most reputable antique appraisal companies are mainly handling nationally owned antiques that are kept by public institutes like museums, and they seldom offer appraisal services to the public.
As demand from the market has become stronger over the years, there are many private appraisal shops opening all around the country. Unfortunately, given the high demand for antique appraisals in China today, many companies are able to enter the market without adhering to the high standards of knowledge and accuracy that once ruled the industry. Today there are so many appraisal shops in China, it is difficult to know who to trust.
According to Jin Xin, a painting and calligraphy appraisal expert, there are four appraisal shops on the one-kilometer stretch of road between the Imperial Academy and the Lama Temple in Beijing, while in Gaobeidian in eastern Beijing, there are about 10 appraisers per kilometer.
What makes the problem worse is that at present there are no powerful laws or regulations governing the activities of this industry where qualified and unqualified businesses coexist. As there are no unifying rules of authentication and supervision, some appraisers offer the excuse that "it's a matter of art appreciation," using almost no objective criteria to value objects.
Focus on expertise
The appraisal business is meant to serve collectors and dealers by offering professional experience that guarantees accuracy, but today more appraisers with less training are entering the market; this lack of expertise may be the core of the conflict, as the strength of the market relies on the integrity of appraisers.
"It's become more difficult to sniff out a fake these days. All in all, counterfeit pieces are getting better and better. Some techniques they use make it very challenging for even the best appraiser to know without giving a very thorough inspection," said a woman surnamed Mu, who works for Dongtai Diancang, a company focusing on enamel pieces.
"It's also hard to draw up appraisal standards because you'd have to be a true master to do so, with a huge bank of knowledge, and even good experts today are making appraisals partially based on related records," she said.
Global Times