Sotheby’s Bets on a Windfall for Today’s Chinese Art, by Carol Vogel

Michael Goedhuis, a dealer with galleries in London and New York who was an early pioneer in the field, was studying the offerings at Sotheby’s the first day the art went on view. He called the sale “inevitable.”

“The market is fragmented, erratic, immature and deeply international,” he said. “Suddenly everyone is pouncing on Chinese art realizing that China is the dominant reality for the rest of history.” Mr. Goedhuis pointed out that the average price for work by the top 20 to 30 Asian contemporary artists is one-tenth of what their American and European counterparts command.

Are their American and European counterparts forfeiting ten times as much creativity? ;-)