Monday, February 23, 2009



Anyone who thinks the China art market is over just needs to meet Yang Bin and Zhang Rui, the most visible collectors in Beijing. I had dinner with them, and about 15 other people, in Zhang's enormous, Guggenheim inspired, Mc Mansion on the northwest outskirts of Beijing last night. Neither seemed perturbed a bit by the downturn in the market, saying over and over again that this is a good opportunity to buy artists, especially younger artists. Yang Bin is about to open a humungous gallery and Zhang Rui is working on an art hotel, but as we chomped through course after course at this banquet, I kept thinking, "Are these guys on drugs?" Everyone here that I've met says, "NO!" They are still doing well, not feeling the pinch of these economic times, confident that the Chinese domestic market will continue to grow and bolster prices at least in the mainland. I can't wait to see if they are right.

No comments: