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Chinese contemporary art and its expansion towards the West

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  1. The invention of television or a succession of discoveries
    1. The discoveries that introduced the invention of television
    2. The birth of the term "television"
    3. From the mechanical television (1925-1931) to the electric television (1932-1945)
  2. Television in the footsteps of players like the radio
    1. The FCC and Congress: state control
    2. The networks: diffusion
    3. U.S. companies: financing
  3. Television and the American public
    1. Television proved to the Americans
    2. The placing of television sets on the market
    3. Programs
  4. Conclusion

In the early twenty first century contemporary Chinese art reached a turning point. After the hysteria that experimental art created at the Venice Biennale in 1999, in 2000 Shanghai had all major international shows. It seems like Euro-American art has no monopoly in modern art.

The Tiananmen Square massacre in Beijing shook the population and there was no turning back. The barriers began to fall and China was slowly moving toward a market economy, a consumer society, a movement toward various trends and pop culture.

Public galleries were opened and exhibitions were organized but they were still controlled by the State and installations and performances were not accepted.
In the late 1990s, early Western art dealers went out to prey on the contemporary Chinese market struck gold. They found that in the tiny workshops of China, artists created wonder that depicted realities of their world that has been evolving over the last fifty years and included the Cultural Revolution, censorship and violence.

These dealers created brought these artists to the rest of the world and the Chinese Avant Garde began. At the same time, foreign and private galleries set up in China and this allowed many artists to live off the earnings of their art. In 2006, these young painters were having their artwork travel the world and they were worth millions of euros.

One example we can cite is that of Zhang Xiaogang. Zhang Xiaogang's lastest work - "Tiananmen Square" was auctioned for 1.8 million euros by Christie's in Hong Kong.He is not the only Chinese artist to have crossed the one million euro mark and they are now 25 more Chinese artists in the Art Price's top 100 contemporary artists list than there were in 2001. The prices for contemporary Chinese art has risen sharply over the last 5 years as have the number of collectors.

So, in this context of a rapidly changing market, we ask the question: Are contemporary Chinese works of art a good investment for the long term?

The new generation, i.e. the more modern generation is now going to deal with the obsession with beauty, individuality, using new media such as photography or videography. The growth of this market does not seem ready to stop which gives us the impression that there are unlimited opportunities but as with any investment, there are always risks.

In this paper, we analyze the world of contemporary art through a presentation of the market, its stakeholders and its financial aspects. Then, we will study contemporary Chinese art with an introduction to various art movements, new means of communication and its internationalization. Finally, we will discover the key players in the market, the collectors and artists and see what the professionals on investment in this sector have to say.

The year 2004 marked a turning point for the contemporary art market. It was a very successful year as the number of total sales increased from the numbers of 2003. Prices increased by 17% in this year.

The works of several artists like Maurizio Cattelan and Jean Michel Basquiat exceed one million dollars. The hights price was given for a sculpture by Jeff Koons ("Jim Beam JB Turner Train, 1986) that was sold by Christie's for $ 4.9 million.

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