The “Art Supermarkets” Catering to China’s Growing Middle Class
Buying from an art supermarket anyone? If this is what it takes to sell artworks in a poor economy, including huge slashes in prices, will artists from the region bite the bullet this way?
“One couple standing inside the UCCA gift shop during my recent walk through 798 discussed a Feng Mengbo painting at length, and typified the growing economic strain faced by their countrymen. The work was on sale for the Chinese New Year, priced at CNY10,000 ($1,482), down from CNY42,000 ($6,227). But the pair said they were unlikely to buy a piece of art so expensive at the moment. They cited expenses—mostly their rent, which had increased steadily over the past four years—as making them hesitant about making a purchase.”
Read the story here.