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Tuesday, August 23, 2011

Chinese Street Art Struggling For Market Love

Courtesy Magalie L'Abbe via Flickr

STUNNED BY DRE
American Street art is known around the globe and has spawned many monthly publications dedicated to it. American street art is also a hot grab on the art market and is documented across all media channels. Chinese street art on the other hand, is fighting for that same recognition and respect. As you can see from the images, the quality of the work isn't the issue, its the pricing among other things.
In April of 2008, the Schoeni Gallery in Hong Kong had a month-long exhibition of Banksy's artwork, which was meant to spark interest from Chinese collectors. It provoked plenty of interest from ordinary Chinese – hundreds of people came to the opening – but not much from collectors. "Unfortunately from a commercial perspective the show was mediocre," said Nicole Schoeni, the gallery owner, adding, "the majority of my clientèle are unable to wrap their head around the idea of paying such high fees for stencil artwork, no matter how famous the artist is."
[Artinfo]
 
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