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China Guardian’s 2013 autumn auctions brought in a total gross of RMB 2.35 billion during the five-day period.
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Fourth, organizations and institutions associated with collectibles keep emerging. The nation now has over 500 organizations and institutions, along with about 130 magazines, associated with collectibles.
Fifth, collectibles have become a hot topic. Chinese media extensively cover it in various ways. TV programs like Treasure Evaluation are especially popular.
Sixth, Chinese collectors and collectibles are going global. The previous four crazes emerged only in certain areas and circles inside China, and each of them had their own restrictions. But the reform and opening-up policy over the past three decades has removed almost all limitations and has consequently promoted Chinese antique collections to expand globally. Chinese collectibles have become influential in, as well as being influenced by, the world.
Last but not least, financial capital is venturing into the field. Certainly, money and collectibles are inseparable. However, the cash aspect of the current collectibles mania differs from previous crazes. Large amounts of capital from banks, enterprises, funds and the insurance industry are invested in this field, but with profit rather than accumulation in mind.
Industry Chain
The collection craze has spawned an industry chain.
Xu Jia is on the staff of www.96567.com, the nation’s biggest online company for coin and stamp collections. She is impressed by the Chinese people’s passion for collecting. “As people are getting richer, many like to spend on collectibles,” Xu told us. “Though our clients come from different social strata, they are keen for two reasons.”
Some clients see collectibles simply as an investment. They stress the potential for appreciation. Therefore, they prefer older items that are in demand on the market, such as paintings and calligraphy, stamps and coins. Generally speaking, they do not focus on specific collectibles, so are flexible in either buying or selling. If they cannot afford expensive quality goods, they pin their hopes on separating the wheat from the chaff – judging goods by their own artistic criteria, so as to purchase valuable objects at affordable prices. For instance, some people invest in artworks by the students of masters, because they are cheaper. Such an investment perception is prevalent among middle-aged people who have reached a certain level of economic power, or the elderly who wish to pass down collections to later generations.
Other collectors are motivated by interest and passion. They include young people who have just ventured into this field, and collectors of less popular items. Targeting a specific category, they usually spend a lot of time studying and researching collectibles and possess an in-depth understanding about their niche. They choose carefully before purchasing. Once they decide to buy, they seldom sell.
According to Xu, many customers come regularly to her company to buy collectibles. Each employee deals with business valued at tens of thousand yuan per month. More customers come for consultation. People from all walks of life enjoy getting together to indulge in their common hobby.
Xu’s company regularly organizes training and lectures. Some clients also gather occasionally to communicate and exchange ideas. These activities create cycles of purchase, dissemination, communication, and counter-purchase. In the meantime, an industry chain for collection businesses, including collections appraisal and e-commerce, has been formed.
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