Porcelain Market Remains Strong?

The Art Newspaper recently ran an interesting article on European porcelain and how the market has remained strong.  Now before we get too excited, this strength, according to the article, is for the more unique, high quality and rare pieces. In that upper level museum quality marketplace the demand is and remains high as do the prices being paid by collectors.

But is this really news, or is it any different from many other market segments or sub segments.  I think we have seen across most fine and decorative art segments if the quality and rarity is there, the demand is as well. It is the secondary level and middle markets which have typically suffered.  The best of the best has usually done well in the economic downturn.  Just look at the YSL sale results. Quality, provenance and a little pop culture can go a long way.

So to me I think the article is a bit of a misnomer as the strength of the market for porcelains is perhaps limited  to the very upper end of the market.

The Art Newspaper states

Herbert van Mierlo, director and expert in works of art, furniture and porcelain at Sotheby’s in London, explains: “The market is dominated by a relatively small group of specialised, devoted collectors looking for exquisite pieces. Because of this, the market for porcelain has remained practically immune from the negative effects of the financial crisis, especially in comparison to the general art market.” According to Van Mierlo, “the price tendency for good porcelain is clearly upward as long as the collectors remain eager. The big and difficult challenge for the auction houses is to find the right pieces.” His view is shared by Rodney Woolley of Christie’s in London where, on 2 June 2009, bidding rose to £121,250 for a small gold-mounted Meissen snuff box dating from 1738, decorated on the inside with a delicately painted scene inspired by Watteau.

Russian collectors, who mainly buy figurines and groups, are among Elfriede Langeloh’s most important clients, says Kirsch. And although the porcelain market is doing very well in terms of sales, there is still a problem with what Kirsch calls “the crippling shortage of goods”. She adds: “All dealers are finding it increasingly difficult and expensive to buy porcelain, which is becoming rarer while demand continues to rise. You can’t simply reprint porcelain in the same way as money. Auction rooms have become like battlefields.”

To read the full article, click HERE.