Repatriation drives chinese art investment

There is little doubt that Chinese art investment is on the up. The Chinese art market now accounts for 24 per cent of the global industry, producing over $15 billion sales in 2014, according to a report by economist Clare McAndrew for the European Fine Art Foundation.

Dessa Goddard, vice president and director of Asian Art at Bonhams, tells SF Gate that repatriation is a driving force behind the purchases, as investors look to take antiquities back to China.

"There is a real reverence for one's own culture among Chinese collectors. They're brought up to respect the culture of their ancestors and the culture of the imperial court. You see this passion in Chinese buyers."

Indeed, Chinese buyers are increasingly spending money on their own nation's art, such as calligraphy, compared to the usual wealthy purchases of watches and cars.

Is it estimated that there are more than 1 million millionaires in China, which is encouraging the habit of buying art.