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The R&D team was established in 2010 with high qualified and experienced engineers, we can give OEM/ODM solutions.
1. With more than ten years experience in R&D of Basin Mixer Tap
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In 2010, the art auction scene was alive with energy. Collectors from all over the world were captivated by the rising prices of masterpieces, as auction houses saw record-breaking sales and media coverage became more intense than ever. The atmosphere was electric—hundreds of millions of yuan were being bid, applause echoed through galleries, and new buyers made headlines online. Journalists crowded into major events, eager to capture every moment. It was undeniable that autumn 2010 marked a peak in the Chinese art market. But what lay beneath this frenzy? Could traditional art forms like calligraphy and painting maintain their dominance? Would porcelain become the next big thing? What about rare items such as rhino horn carvings or huanghuali furniture? And could contemporary art make a comeback?
According to the “China Art Market Auction Market Survey Report†released by the Yachang Art Market Monitoring Center, there were clear signs that the market was growing rapidly—but also facing challenges.
The siphon effect continued into 2011. In the fall of 2010, high-end artworks saw continuous price surges, with many pieces selling for over 100 million yuan. The total sales for that season reached 37.2 billion RMB, and the annual turnover hit 57.3 billion, a dramatic increase from 22.5 billion in 2009. This growth far outpaced other economic sectors, indicating strong potential.
Where did all this money come from? Many investors were shifting funds from real estate and stock markets due to excess liquidity. For individual collectors, the sale of a single piece for 5 billion yuan seemed surreal, but on a macroeconomic scale, the 57.3 billion RMB in turnover was just a small part of the financial landscape.
In 2010, 16 artworks sold for over 100 million yuan, with ancient paintings and ceramics dominating the top sales. Of the top 100 auctions, 38 were ancient Chinese paintings. This trend was driven by previous high-profile sales that created a ripple effect, drawing previously hidden treasures into the market. As a result, some long-time collectors who once held back began to sell, creating a siphon effect that would continue in the coming years.
The “Bo Silent†phenomenon spread across the art community. Ancient Chinese paintings and calligraphy accounted for nearly 60% of total sales, but this dominance led auction houses and collectors to explore other areas. Some launched special sessions for guqin, huanghuali, and Wenfangqing, aiming for a more balanced and sustainable market.
However, the flood of ancient artworks into the market raised concerns. With so many works available, auction houses struggled to conduct thorough appraisals, while buyers faced an overwhelming amount of information. This lack of clarity increased the risk of speculative bubbles, leading to a "foolishness" trend similar to what is seen in financial markets. Such trends can lead to large portions of transactions becoming stagnant in a maturing market, harming trust and long-term development.
Rare and expensive items became the new norm in 2011. As monetary policies tightened and investment channels narrowed, speculative capital flowing into the art market decreased. However, the influence of high-price sales from 2010 continued to drive family collections into the market, maintaining the trend of high-value sales. 2010 was dubbed “the first year of artistic finance,†as art investment gained popularity among the wealthy.
Over the past two decades, the Chinese art market has grown significantly, drawing widespread attention. Yet, academic and institutional support has not kept pace. The unprecedented transaction volumes and prices in 2010 brought both opportunities and risks, highlighting the need for stronger frameworks and better regulation.
September 29, 2025