prtothetrade

Chinese Antiques & Chinese Economy

In 1 on September 24, 2009 at 11:31 pm

One of my favorite clients, Izzy Chait, President of I.M. Chait Gallery/Auctioneers, just forwarded some info that will be of interest to collectors of Asian arts and antiquities.

Seems the Chinese economy is so strong that when he was in Mainland China recently, he found all reasonable offers for porcelain were summarily rejected.Ming Dragon Dish

Chait has been shopping China for three decades and this is the first time he couldn’t buy fine porcelain for just a “tad less” than the sticker price.

What that means for all you collectors of Chinese porcelain, carved jades and carved ivories, archaic bronzes and more, is that it is going to be tough to find bargains in the fall Asian art auctions. When the pros can’t cut a deal, it’s newsworthy.

What’s more, Chait reports that U.S. dollars are absolutely useless shopping China. He couldn’t give away $100 bills and had to pay for everything in RMB. (And why not? Even as the dollar declines, RMBs go up in value.)

If you don’t already know it, antique dealers in China are like rock ‘n roll in the U.S. And the people who are experts in them are like rock stars. (This clever analogy has to be credited to Mary Ann Chait, Izzy’s wife.) So, why is this important? Again, it’s a collector’s thing.

If you are a collector of Chines antiques – it’s a good idea to buy now before prices go up and the dollar goes down even more.

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