I often ask investment and legal professionals, "are you talking with your clients about their investments in antiques, art and collectibles? Are you offering informed advice on the management of a potentially significant portion of their overall net position?"
Over recent months, major international auction houses, including Garth’s, have seen a slight slowdown in prices for the best jade, porcelain and bronze Chinese relics. For several years, the market for Asian Arts has been driven by a bullish Chinese economy and a growing upper class eager to flash their new found wealth and acquire objects of status. Prices have risen to record - almost ridiculous - prices, with most informed trade professionals expressing a concern for the ramifications of an ever-stretching bubble (we reference the 2008 credit crisis and economic crash in our own country). Although Prime Minister Li Keqiand’s conservative approach to tempering growth has been met with skepticism by other economists since Yiping's article was published, the author stands firm on optimism for the reformation under Likonomics. Click here for a recent article by Yiping revisiting the topic and addressing the shifting and developing policies of Keqiand and his advisers.