The Asian art scene

IN the last decade, more and more eyes have been focused on Asia's voracious art appetite. What contributed to this explosive trend? Certainly the tremendous growth of wealth in Asia has ignited the flames, combined with the feelings of nationalism as well as making a name for one's self. Now, whenever one sees an art-related headline, the notoriety that comes with a big Asian purchase creates an international media frenzy.

In April 2014, Sotheby's Hong Kong sold a legendary porcelain Chicken Cup from 15th century Ming emperor Chenghua's period for a world record of US$36 million. The finely potted cup represents the "Holy Grail" for Chinese art collectors with only 20 extant cups mostly in museums. Most of the time, when buyers are successful at this level, they wish to remain anonymous. But the victorious buyer of the Chicken Cup, Liu Yiqian, is part of a new generation of collectors - one that does not shy away from the limelight and use their purchases as self-promotion and free publicity. When he paid for the cup, Sotheby's held a press call and invited reporters to photograph him drinking tea from the cup.

"We have seen exponential growth by mainland Chinese buyers who were brought up during the Cultural Revolution," Henry Howard-Sneyd, Sotheby's vice-chairman for Asian art, told The New York Times.