Art market holds better than stock exchange – Rupert Hoogewerf

Rupert Hoogewerf by Getty Images via Daylife

The Chinese art market is holding much better than the stock exchange, tells China Rich List producer Rupert Hoogewerf the German magazine Die Welt. “China’s market for modern art has dropped in 2008 by 25 percent, while the stock markets lost 60 percent,” says the former accountant.
Rupert Hoogewerf maintains next to his China Rich List, also a list with the 50 most expensive Chinese paintings, according to the valuation of international auction houses. The newest 2009 list reflects already the global downturn, but suggests that speculation on the modern art market has not been that extravagant.

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Rupert Hoogewerf is also a speaker at the China Speakers Bureau. When you need him at your seminar, conference or board meeting, do get in touch.