China oil painting dropped 1.4% in the first quarter

According to MeiMa index research center new report, modern and contemporary Chinese oil painting in the first quarter of 2012 is down 1.4%, at the same time, the Shanghai index fell 1.3%. Two index in the first quarter of the decline of the reason is that most of the economic transformation in performance of the uncertainty of the economic slowdown in China. Because the seller thinks that the market could not give double-digit high return, the high quality work to produce rised psychology, the auction market supply drop. We believe the market adjustment is benign, collectors should look more on high quality of artwork on long-term investment, and don't like a bull market as fast business.