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"Hurun China Art List 2023" Released - LABA Blue-chip Artist Jiannan Huang Ranks 3rd Place

Rupert Hoogewerf, also known by his Chinese name Hu Run (Chinese: 胡 润; pinyin: Hú Rùn), is the chairman and chief researcher of Hurun Report, announces the release of the China Art List 2023.

Shanghai, China. 20th June, 2023. The Hurun Research Institute today launched the Hurun China Art List 2023, a ranking of the Top 100 Chinese artists alive today based on the sales of their works at public auction in the year ending 31st December, 2022. This is the sixteenth year of the Hurun China Art List. The report includes the Hurun Best-Selling Chinese Artists 2023, a list of the 100 best-selling artists from China. The lists were compiled from data collected by Artprice, Artron and ArtPro.

Fanzhi Zeng once again became the most successful living artist in China after eight years, with a turnover of 140 million yuan in the past year.

Ruzhuo Cui, a 79-year-old Beijing traditional Chinese painter, has topped the list for the past eight years, with a turnover of 110 million yuan.

LABA Blue-chip artist Jiannan Huang

Jiannan Huang, the 71-year-old Guangdong oil painting and traditional Chinese painter, has a turnover of 100 million yuan, and his ranking has risen by 4 places, and he has been promoted to third place. Since Jiannan Huang was shortlisted for the first time in the Hurun China Art List in 2014, he has been on the list for ten consecutive years, among which he has been in the top ten for eight years. His 2020 work "Splendid Future" was auctioned by Beijing Rongbao for 52.9 million yuan last year (US$7.4 million).

"Splendid Future" painting by Jiannan Huang sold at Auction in 2022 for 52.9 million yuan (US$7.4 million)

Among the top ten most expensive works by living artists, 9 are oil paintings and 1 is Chinese painting. Among them, 1 Chinese painting is the work of Ruzhuo Cui, 9 oil paintings are the works of Fang Lijun, Liu Wei, Jiannan Huang, Leng Jun, Zeng Fanzhi, Liu Ye, Cheng Conglin, Ding Yi and Ai Xuan.

China's art market cooled off last year. The global art market totaled US$67.8bn last year, up 3% from a year earlier, according to The Art Market 2023, a report by Art Basel & UBS. The USA remained the largest single art market, accounting for 45% of global sales, up 8% year on year. The UK regained its position as the second largest market, accounting for 18% of global sales. China's share fell to 17%, from second to third. Sales in China fell 14% last year from a year earlier as the impact of the Covid-19 hampered art market activity last year, with some art fairs and auctions cancelled, shortened or postponed.

The total turnover of the 100 artists on the Hurun China Art List 2023 was US$347mn, a decrease of 46% over last year. The threshold for the list has down to US$530,000. The turnover of 3 artists exceeded CNY 100mn, 8 less than last year. A total of 298 artists have made the Hurun China Art List these 16 years.

Rupert Hoogewerf, Chairman and Chief Researcher of Hurun Report, said: “Average sales on Hurun China Art List fell 46% this year, and the number of people who sold more than CNY 100mn was just 3, almost the lowest ever. The main reasons include the global economic slowdown, which has left entrepreneurs with less capital to invest, and the Covid-19, which has caused major auction houses such as Poly and Yongle to postpone their autumn sales. We hope that our art list can bring some inspiration to the Chinese who have the ability to collect, and help them to start the first step of art collection.”

“Since May this year, 41 Chinese artists have been declared of national cultural importance, with their works no longer allowed to leave the country, led by the likes of Zhang Daqian, Qi Baishi, Feng Zikai, Li Keran, Wu Guanzhong and Zhao Wuji.”

“The influence of young Chinese artists is growing, and the creative thinking of the new generation is being recognized by collectors. The average age of artists on the list has fallen for four years in a row, and this year the number of artists under 50 is the highest in a decade with 23."

“There are 8 female artists on the list this year, which doesn't sound like much, but it's the highest number in years, and there were 8 in 2021. The art landscape has changed dramatically from a few decades ago, with female artists increasingly receiving attention and recognition from mainstream institutions.”

“An artist's personal brand is very important to collectors. There are 27 evergreen artists on the list in the past decade, including Zeng Fanzhi, Cui Ruzhuo, Jiannan Huang and Fan Zeng. The sales of these 27 artists over the past 10 years accounted for 60% of the total sales of the 10 year list artists.”

“With only 298 artists on the list over the past 16 years, it is hard to displace established artists whose works have long been the dominant force in China's art auction market. Established artists' personal brands played an important role, with 79 remaining in the top 100 compared with last year, and only 11 new face on the list, 4 fewer than last year.”

“This year, the sales of the artists on the list have gone from concentrated to dispersed. Ten years ago, the sales of the Top 10 artists accounted for 45% of the list, five years ago it was 50% and last year it was 56%. This year, the sales of the Top 10 artists accounted for just 4% of the list.”

“Zhang Daqian, Zhao Wuji, Qi Baishi, Wu Guanzhong and Fu Baoshi, the most popular art masters in modern China, whose works are still active in the art auction market, are milestones in the history of modern calligraphy and painting, and great pioneers who have made outstanding contributions to the development of Chinese art.”

This article is based on the English language summary of the full Chinese press release which can be found at Hurun China Art List 2023. Please note percentage changes of the sales totals is based on a comparison of the Chinese Yuan sales figures of this versus last year.

LABA Blue-chip artist Jiannan Huang and Rupert Hoogewerf, chairman and chief researcher of Hurun Report, at a past event in China

About Hurun Inc.

Established in the UK in 1999, Hurun is a research, media and investments group, promoting entrepreneurship through its lists and research. Widely regarded as an opinion-leader in the world of business, Hurun generated 6 billion views on the Hurun brand last year, mainly in China and India.

Best-known today for the Hurun Rich List series, telling the stories of the world’s successful entrepreneurs in China, India and the world, Hurun’s two other key series include the Hurun Start-up series and the Hurun 500 series, a ranking of the world’s most valuable companies.

The Hurun Start-up series begins with the Hurun U30s, an awards recognizing the most successful entrepreneurs under the age of thirty, and is today in seven countries. Next up are Hurun Cheetahs, Chinese and Indian start-ups with a valuation of between US$300mn to US$500mn, most likely to go unicorn with five years. Hurun Global Gazelles recognize start-ups with a valuation of US$500mn to US$1bn, most likely to go unicorn within three years. The culmination of the start-up series is the Hurun Global Unicorn Index.

Other lists include the Hurun Philanthropy List, ranking the biggest philanthropists, the Hurun Art List, ranking the world’s most successful artists alive today, etc…

Hurun provides research reports co-branded with some of the world’s leading financial institutions, real estate developers and regional governments.

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The Beverly Arts News is sponsored by JHSZ International Art Institute



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