Sotheby's Asian art sale moves into new territory

"People come for a known price, pay the price and leave, whereas there is an uncertainty at the auction that does not suit every buyer," he adds.

Many of the SHUIMO paintings were sold before the exhibition opened because Sotheby's sent their images to its long-term clients and established collectors, says Loong. "Some of them simply buy based on the image," she says.

Contemporary Chinese art prices surged to an all-time high in 2012, taking 29 of the top 50 hammer prices in public auctions worldwide, according to Artprice's annual report. The new and rapidly emerging field of contemporary Chinese water-ink painting became hot in 2012, with major Chinese auction houses actively hosting special sessions to introduce artists' works.

Loong, a Chinese art specialist who also produces her own "pop up" art sale exhibitions, says she recognized the rising value of contemporary Chinese water-ink paintings and approached Sotheby's to see if a gallery-type show was possible.

When Sotheby's gave her the go-ahead in February 2012, Loong says she wrote to artists she knows, and told them she needed their work by the end of that year. "Some of them started painting right away, and some took a long time," she says.

"I have done shows for them before. I've worked with some for years, helping place them in museums and in galleries. I am one of their representatives, in other words. I call myself their big sister."

Sutherland says she doesn't think it helps the artists to paint only for a sale at Sotheby's or Christie's.

"Hopefully, it gets people interested in Chinese water-ink paintings, and they will come to me to see paintings at a much lower price point, but the quality is much higher," she says.

To Chang, the move into gallerylike showings by the auction houses makes the future for galleries bleak.

"There is no advantage of a gallery. None," she says.

"At the end of the day, I will still be here selling paintings," Sutherland says.

"Time will tell how this goes. Let's wait and see."

liulian@chinadailyusa.com

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