0:00:10 > 0:00:13We live in a time of financial uncertainty.
0:00:16 > 0:00:20It's been described as the greatest economic collapse since the '30s.
0:00:23 > 0:00:26Hard times for everybody.
0:00:26 > 0:00:28Well, nearly everybody.
0:00:30 > 0:00:34The great auction houses have never had it so good.
0:00:34 > 0:00:39Even in a time of profound financial, economic turmoil,
0:00:39 > 0:00:44the likes of Sotheby's and Christie's have been reporting record profits.
0:00:44 > 0:00:48And it's all down to one extraordinary, unpredicted factor -
0:00:48 > 0:00:53the seemingly endless boom in the market for Chinese art and antiques.
0:00:59 > 0:01:02China is embarking on a new cultural revolution,
0:01:02 > 0:01:05in which art is playing a central role.
0:01:08 > 0:01:12The country has moved from trying to annihilate its past...
0:01:12 > 0:01:15..to embracing its imperial history.
0:01:17 > 0:01:22Now the Chinese super-rich go shopping at the great auction houses...
0:01:22 > 0:01:25..where world records are regularly smashed.
0:01:25 > 0:01:29Two million and seven, new place, two million and eight, two million and nine.
0:01:32 > 0:01:34Thank you very much.
0:01:37 > 0:01:38And for some collectors,
0:01:38 > 0:01:42buying art seems to have taken over their lives.
0:01:43 > 0:01:47- Every piece costs money. Money, money, money.- Yeah, sure.
0:01:47 > 0:01:50But what can you do? You are like junkie, you know?
0:01:50 > 0:01:52You are taking a drug, you cannot stop.
0:01:55 > 0:01:59This boom has led scientists to use the latest techniques
0:01:59 > 0:02:02to separate the fakes from the fortunes.
0:02:05 > 0:02:12And it's made us in the West look again at the many extraordinary faces of Chinese art.
0:02:19 > 0:02:23There's nothing cosy about the world of Chinese art and antiques,
0:02:23 > 0:02:27it's a billion-pound business, with fortunes to be made and lost.
0:02:27 > 0:02:31And the story behind it offers a unique window into the soul
0:02:31 > 0:02:36of China itself, as it emerges as the next global superpower.
0:02:48 > 0:02:51The story begins in a surprising place.
0:02:52 > 0:02:59Not China or even Mayfair, but a sleepy suburban town in Middlesex.
0:03:04 > 0:03:08I think many of us have had the old Antiques Roadshow dream,
0:03:08 > 0:03:12the fantasy that that old oriental vase we inherited from Auntie Maud
0:03:12 > 0:03:16might turn out to be a masterpiece of Chinese porcelain,
0:03:16 > 0:03:20once treasured by an emperor, now worth millions of pounds.
0:03:20 > 0:03:24Well, that dream actually came true here in Pinner.
0:03:24 > 0:03:29A Chinese vase found during a house clearance in a London suburb
0:03:29 > 0:03:32has sold at auction for a staggering £43 million.
0:03:32 > 0:03:34The piece dates from the 18th century.
0:03:34 > 0:03:36It's thought the buyer is from China.
0:03:39 > 0:03:40'This staggering sale was unusual
0:03:40 > 0:03:44'because it didn't take place at Sotheby's or Christie's
0:03:44 > 0:03:49'but in a small auctioneer's near to where the vase was found...
0:03:51 > 0:03:54'..a place used to dealing with somewhat more everyday objects.
0:03:56 > 0:03:59'But the sale of this vase was to make this auction house
0:03:59 > 0:04:00'very famous indeed.
0:04:04 > 0:04:08'Chinese bidders flocked here for the rare chance to buy
0:04:08 > 0:04:12'an object from the imperial kilns of the Emperor Qianlong.
0:04:12 > 0:04:18'He reigned for six decades during what, for us, was the Georgian era,
0:04:18 > 0:04:23'a leader so revered in China anything he touched is now seen as sacred.'
0:04:27 > 0:04:30Right, the bidding is now £20 million, ladies and gentlemen.
0:04:30 > 0:04:33At £20 million now. Any advance?
0:04:33 > 0:04:37It automatically went into the top ten items ever sold at auction
0:04:37 > 0:04:39anywhere in the world
0:04:39 > 0:04:44and it was the only one that wasn't either a painting or a sculpture.
0:04:44 > 0:04:46So, if you're talking about a work of art,
0:04:46 > 0:04:48as opposed to a piece of fine art,
0:04:48 > 0:04:51it is the most expensive thing ever sold at auction.
0:04:51 > 0:04:55It's £43 million pounds.
0:04:55 > 0:04:57Sold.
0:04:57 > 0:05:01The price was just stratospheric, it bore no resemblance to market values
0:05:01 > 0:05:03as we'd known them up to that time.
0:05:06 > 0:05:08'No wonder people were surprised.
0:05:08 > 0:05:11'The total price for the vase, including fees,
0:05:11 > 0:05:17'was £53 million pounds, beating the previous record for a Chinese vase
0:05:17 > 0:05:18'by more than £30 million.
0:05:21 > 0:05:25'But sadly, for the auctioneer and the family that sold the vase,
0:05:25 > 0:05:28'the story didn't end there,
0:05:28 > 0:05:30'because, as yet, there's no confirmation
0:05:30 > 0:05:32'the vase has actually been paid for.
0:05:35 > 0:05:39'With a buyer based in China and no deposit put down before bidding,
0:05:39 > 0:05:44'journalists began to report problems in completing the sale.'
0:05:44 > 0:05:48It became clear after a short while that payment hadn't been made.
0:05:48 > 0:05:51We made a few phone calls, I think other newspapers and press did,
0:05:51 > 0:05:55to find out when he'd actually got the money, and it became clear that
0:05:55 > 0:06:00the auctioneer hadn't been paid.
0:06:00 > 0:06:05I have it on good authority firstly that it hasn't been paid for,
0:06:05 > 0:06:12and secondly that ongoing legal negotiations are taking place.
0:06:16 > 0:06:20While the story of the Pinner vase might remain unresolved,
0:06:20 > 0:06:21one thing's for certain -
0:06:21 > 0:06:25it was a landmark in the story of Chinese art.
0:06:25 > 0:06:29And it woke the whole world up to a remarkable phenomenon -
0:06:29 > 0:06:33the fact that Chinese works of art had suddenly begun to change hands
0:06:33 > 0:06:36for truly eye-watering sums of money.
0:06:38 > 0:06:42'Because, while the Pinner vase may not have been paid for,
0:06:42 > 0:06:45'every week, Chinese antiques ARE going for record sums.
0:06:48 > 0:06:51'What's exciting the media is that suddenly Chinese buyers
0:06:51 > 0:06:55'are lavishing millions on artworks of every type
0:06:55 > 0:06:58'and from every period of Chinese history.
0:06:59 > 0:07:03'Maybe not the fantastical figure seen in Pinner,
0:07:03 > 0:07:07'but when even a three-inch high snuff bottle can reach £2 million,
0:07:07 > 0:07:12'no wonder the art market's eyes are now all turned East.'
0:07:14 > 0:07:17It's no exaggeration to say that the Chinese art market has been
0:07:17 > 0:07:23propping up the wider international art market enormously over the past couple of years.
0:07:23 > 0:07:27It's acting almost like Viagra to international sales,
0:07:27 > 0:07:30giving it the biggest boost you've seen.
0:07:30 > 0:07:34And it is like the closest thing I've seen to the Californian gold rush within our industry.
0:07:42 > 0:07:46'To understand why the Chinese are so hungry to buy back their past,
0:07:46 > 0:07:52'you have to look deeply into China's ancient and imperial history.
0:07:56 > 0:08:01'No place in the world shows this better than the British Museum.
0:08:01 > 0:08:03'Its Chinese collection spans more than three millennia
0:08:03 > 0:08:05'of the country's history
0:08:05 > 0:08:09'and shows the sheer variety of China's genius for art.'
0:08:12 > 0:08:16In China, they had this immensely sophisticated approach
0:08:16 > 0:08:19to all aspects of life so that...
0:08:19 > 0:08:23things that in the West were regarded for centuries as utilitarian objects,
0:08:23 > 0:08:27in China, they became excuses for artistic expression.
0:08:27 > 0:08:33Here we've got this absolutely stunning display of Ming vases,
0:08:33 > 0:08:35Ming jugs, Ming bowls.
0:08:35 > 0:08:40Each one is a sort of ceramic excuse for a wonderful painting.
0:08:48 > 0:08:52Here we are looking at a display of bronze objects created...
0:08:52 > 0:08:53Can you believe it?
0:08:53 > 0:08:563,300 years ago.
0:08:56 > 0:09:03So much earlier than bronze casting was even dreamed of in the West,
0:09:03 > 0:09:05and aren't they extraordinary things?
0:09:05 > 0:09:09Again, we know very little about the religions
0:09:09 > 0:09:12for which they were designed to serve,
0:09:12 > 0:09:17but I think what they show us is this Chinese idea that
0:09:17 > 0:09:21anything and everything can be imbued with profound artistic expressiveness
0:09:21 > 0:09:23was there absolutely from the beginning.
0:09:35 > 0:09:40'But what I've really come to see is far from the public gaze
0:09:40 > 0:09:42'in the BM's conservation studio.
0:09:44 > 0:09:48'This scroll, the Chinese equivalent of the Mona Lisa,
0:09:48 > 0:09:52'shows that art has never been a mere pastime in China.
0:09:52 > 0:09:55'Dating from the 5th or 6th century,
0:09:55 > 0:09:58'it was used by emperors to instruct the Chinese people.'
0:10:00 > 0:10:05So, Jan, give me some sense of just how special and precious
0:10:05 > 0:10:08and extraordinary this object is.
0:10:09 > 0:10:16Well, I think arguably this is the oldest Chinese landscape
0:10:16 > 0:10:19- and figure painting. - You mean, in the world?- Yes.
0:10:19 > 0:10:22I need to put my glasses on cos it's so sophisticated.
0:10:22 > 0:10:26- Tell me what...It's called The Admonitions Scroll.- Yes.
0:10:26 > 0:10:30- Who's being admonished? - Who's being admonished? Yes, exactly.
0:10:31 > 0:10:33It is indeed the women in the scroll.
0:10:33 > 0:10:36Every scene has women
0:10:36 > 0:10:43and these women are being warned at what their wanton behaviour
0:10:43 > 0:10:45could do to bring down the state.
0:10:45 > 0:10:48What's going on? What's with the bear?
0:10:48 > 0:10:51The Emperor in his palace would have had a bear
0:10:51 > 0:10:54that should have been in a cage but broke out.
0:10:54 > 0:10:57So the bear is about to attack him.
0:10:57 > 0:10:59Now, he's sitting there
0:10:59 > 0:11:03and he's sort of scrambling to get his sword to protect himself.
0:11:04 > 0:11:07This is a courtesan who is doing
0:11:07 > 0:11:10exactly what a courtesan should do.
0:11:10 > 0:11:13She has put herself in the way of bodily harm
0:11:13 > 0:11:15in order to protect the Emperor.
0:11:15 > 0:11:20So we see that he was here with several women from his harem
0:11:20 > 0:11:24and they were all seated around him.
0:11:24 > 0:11:26The minute the bear broke away from his cage
0:11:26 > 0:11:29and started to lunge towards the Emperor,
0:11:29 > 0:11:32this lady put her way...
0:11:32 > 0:11:34She glides with such wonderful delicacy.
0:11:34 > 0:11:39Whereas, we have another lady who just ran away.
0:11:39 > 0:11:42- She absented herself. - So this is what you should do
0:11:42 > 0:11:44- and this is what you shouldn't do.- Exactly.
0:11:44 > 0:11:47Women being admonished.
0:11:47 > 0:11:50And being admonished in a way where they're being taught.
0:11:54 > 0:11:57'The scroll also reveals how deeply embedded
0:11:57 > 0:12:00'art collecting is within Chinese culture.
0:12:03 > 0:12:07'Over a thousand years, its owners stamped their names on it
0:12:07 > 0:12:10'to show their pride in its possession.
0:12:10 > 0:12:14'These are the ancient precursors of those modern Chinese
0:12:14 > 0:12:16'spending millions at auction today.'
0:12:19 > 0:12:22It belongs in a Chinese mind-frame
0:12:22 > 0:12:26that a painting is, in a way, a document of human culture.
0:12:26 > 0:12:30So, it does document people who own paintings,
0:12:30 > 0:12:32it does document who looks at paintings,
0:12:32 > 0:12:34it has its history.
0:12:34 > 0:12:37Is that a way of saying, "I love this object?"
0:12:37 > 0:12:40It's definitely a way of saying, "I love this object."
0:12:40 > 0:12:45We might think that's slightly peculiar. If you love it, why do that on it?
0:12:45 > 0:12:52That's what I mean, in the Chinese context, paintings are also documents of human culture.
0:12:52 > 0:12:55We see a painting as something finished
0:12:55 > 0:13:00and you appreciate it forever in that stillness of how it was done.
0:13:00 > 0:13:04In the Chinese sense, it is a document of interactions,
0:13:04 > 0:13:07of like-minded individuals coming together to view things together.
0:13:07 > 0:13:12It's right that you should assert your ownership and your appreciation.
0:13:12 > 0:13:15It shows that you are one of the chosen few?
0:13:18 > 0:13:22'But how did an object as important to the Chinese as the Admonitions Scroll
0:13:22 > 0:13:24'end up in the British Museum?
0:13:26 > 0:13:30'It's a question that takes you to the heart of why the Chinese are snapping up
0:13:30 > 0:13:33'seemingly any relic from their history.'
0:13:35 > 0:13:39After the Golden Age of Emperor Qianlong,
0:13:39 > 0:13:43his Qing successors in the 19th and early 20th century
0:13:43 > 0:13:47oversaw a nation ripped apart by rebellions and invasions.
0:13:50 > 0:13:53As the dynasty entered its final death throes,
0:13:53 > 0:13:58warfare laid waste to the Imperial city of Peking.
0:13:58 > 0:14:02Amidst the chaos, works of art like the Admonitions Scroll
0:14:02 > 0:14:05were taken out of the country by foreigners.
0:14:11 > 0:14:16But in some ways it was a blessing that so many masterpieces left China.
0:14:16 > 0:14:20From 1949, a desperate nation turned to Communism
0:14:20 > 0:14:22and a new type of emperor, Chairman Mao.
0:14:24 > 0:14:29He declared war on China's Imperial history to create a 'people's paradise'.
0:14:32 > 0:14:38Mao's 'Cultural Revolution' saw zealots attack temples and palaces,
0:14:38 > 0:14:42stuffed with the kind of objects so desired by Chinese collectors today.
0:14:43 > 0:14:49Sacred statues were smashed and decapitated to sever all links with the past.
0:14:54 > 0:14:58Somebody who witnessed the Cultural Revolution first hand
0:14:58 > 0:15:01is Giuseppe Eskenazi, who's based in Mayfair.
0:15:03 > 0:15:07Eskenazi is one of the world's most important Chinese art dealers.
0:15:11 > 0:15:16'At the moment he's exhibiting these Chinese zodiac paintings.
0:15:16 > 0:15:18'My sign is the rat.
0:15:18 > 0:15:22'An animal more highly regarded in China than here in the West.'
0:15:22 > 0:15:29- Do you know anything about the character of the rat?- He is meant to be amusing, which you are!
0:15:29 > 0:15:32And inquisitive, which is part of your profession.
0:15:32 > 0:15:36- You're very inquisitive. - I have to be. Otherwise, I never find anything out.
0:15:41 > 0:15:47Eskenazi's shop is a showcase for the kind of traditional art Maoism was dead against.
0:15:50 > 0:15:54When we went first to China, we were asked,
0:15:54 > 0:15:57"Why are you interested in this feudal society
0:15:57 > 0:15:59"that made slaves out of us?"
0:15:59 > 0:16:03They could not understand why we wanted to go to museums.
0:16:03 > 0:16:06To visit the old world, two people would come on a bike.
0:16:06 > 0:16:10They would unlock the museum, this is going around China,
0:16:10 > 0:16:12they would let us in and lock us in.
0:16:12 > 0:16:16An hour later they would unlock and want us to get out.
0:16:16 > 0:16:19We, of course, did not want to get out, we wanted to carry on seeing.
0:16:19 > 0:16:23We all had torches because the cabinets were not lit.
0:16:23 > 0:16:25Then, we were questioned.
0:16:25 > 0:16:30I'm sure, at that time, as we travelled not by air, but train throughout China,
0:16:30 > 0:16:37there were people questioning us, asking us, "Why have you come here? Why do you want to see these things?
0:16:37 > 0:16:40"Don't you think you should see the respect," which was Mao,
0:16:40 > 0:16:42"the respect we have for the land?"
0:16:42 > 0:16:49Does it seem strange to you the degree to which that society has completely turned on its head,
0:16:49 > 0:16:54the degree to which those Communists of old have embraced
0:16:54 > 0:16:57capitalism with a sort of voracity that seems unimaginable?
0:16:57 > 0:17:00When you consider the history of China,
0:17:00 > 0:17:05Communism is such a short, small period in the history of China.
0:17:05 > 0:17:07Were they not always capitalists?
0:17:08 > 0:17:12Everybody wants to do well, everybody wants to earn more and spend more.
0:17:12 > 0:17:15That is going back to their roots.
0:17:18 > 0:17:24The single biggest factor in the Chinese antique boom is the rise of the Chinese economy.
0:17:25 > 0:17:32When Mao died in 1976, the nation turned from Communism to the free market.
0:17:32 > 0:17:37Capitalist China now has the second largest economy in the world.
0:17:37 > 0:17:40And, unlike the West, it's still rapidly growing!
0:17:43 > 0:17:47China now has almost a million millionaires!
0:17:47 > 0:17:52This new breed of super rich are creating another 'cultural revolution'.
0:17:52 > 0:17:57They've developed an insatiable appetite for spending their new money
0:17:57 > 0:18:01on bringing back, on purchasing, acquiring,
0:18:01 > 0:18:05the ancient art of their country's Imperial past.
0:18:11 > 0:18:16But of course, the best way of getting to grips with this boom in Chinese art
0:18:16 > 0:18:18is to travel to China itself.
0:18:25 > 0:18:29Hong Kong means "fragrant harbour".
0:18:32 > 0:18:37But despite its delicate name, this is an island that thrives on hard commerce
0:18:37 > 0:18:43and since the late 19th century, it's been a place to buy and sell art and antiques.
0:18:46 > 0:18:49British and French sailors would stop off here, on boats like this,
0:18:49 > 0:18:55to flog off statues, pieces of jade, jewellery and vases
0:18:55 > 0:18:59that they'd bought on the mainland, before sailing back to Europe.
0:18:59 > 0:19:02Hong Kong has always been a place where East meets West
0:19:02 > 0:19:05and, because of the rise in the Chinese economy
0:19:05 > 0:19:10and this new found Chinese passion for collecting antiquities,
0:19:10 > 0:19:15this place is on the up and up as a centre for the art trade.
0:19:20 > 0:19:24'Certain areas of Hong Kong, like Cat Street,
0:19:24 > 0:19:30'haven't changed all that much since the time of those 19th century traders.
0:19:30 > 0:19:35'This used to be a bit of a thieves' market, with dealers, the cats,
0:19:35 > 0:19:38'preying on unsuspecting buyers, whom they called rats.
0:19:39 > 0:19:44'But with the present boom, these streets hold the tantalising promise
0:19:44 > 0:19:48'that even in the midst of this bric-a-brac, even for a rat like me
0:19:48 > 0:19:51'there might be a hidden masterpiece.'
0:19:53 > 0:19:59Here we go. I don't want him to know but I've set myself a budget of 1,100 Hong Kong dollars
0:19:59 > 0:20:04which is about £100. I don't know what I'm going to find.
0:20:05 > 0:20:09Hello. Hi. I'm on a quest for a bargain.
0:20:09 > 0:20:13- I want to find something that I like that I can live with.- Yes, er...
0:20:13 > 0:20:18- These are snuff boxes, snuff bottles.- Snuff bottles.
0:20:18 > 0:20:20They were made in the 18th, 19th century.
0:20:20 > 0:20:23- They've come up in value a lot. - They've come up in value because...
0:20:23 > 0:20:26- Can I have a look? - Yes, sure, why not.
0:20:26 > 0:20:29This one, for example, I think, whoops...
0:20:29 > 0:20:33- How much is that?- 980.
0:20:34 > 0:20:38That's your asking price?
0:20:38 > 0:20:41- Of course the quality and the... - What's the figure?
0:20:41 > 0:20:46- The figure, I think, is a scholar, or attendant.- A scholar(?)
0:20:46 > 0:20:49- Or attendant.- I like the fact that it's a scholar.- Yeah.
0:20:49 > 0:20:51A scholar or attendant.
0:20:51 > 0:20:54I think of myself as a scholar.
0:20:54 > 0:20:58- I'll tell you what I do like, I'm a bit of a sucker for calligraphy.- Oh, yeah.
0:20:58 > 0:21:02- I love calligraphy. What is that? - That is a paperweight.
0:21:02 > 0:21:08- It's a paperweight?- A paperweight, yeah. It has its original date. - That tells us it's Qing.
0:21:10 > 0:21:14And I think this is the name of the artist.
0:21:14 > 0:21:19- How much is it?- That one, 1,360.
0:21:19 > 0:21:23- OK... 1,360?- Yeah, 1,360.
0:21:23 > 0:21:26- Can we sit down and talk about it? - Yeah, why not?
0:21:26 > 0:21:31I think, it's a nice paperweight, but it's only a paperweight, really. That's too much money.
0:21:31 > 0:21:32So, I think, maybe...
0:21:37 > 0:21:42- 700.- Oh, 700, too far.
0:21:42 > 0:21:49Our way we do to the customer, it is all open price with all the pieces.
0:21:49 > 0:21:53I try, it's not far away, not big distance from the original.
0:21:53 > 0:21:57We do try to be friendly and courtesy to the customers.
0:21:57 > 0:21:59- I'm not trying to be rude. - Not rude...
0:21:59 > 0:22:03How can you go down from where you are?
0:22:03 > 0:22:09The best we can do, the best we can do is, er...
0:22:09 > 0:22:131,100? The best we can do.
0:22:13 > 0:22:20- 1,000?- 1,000 is just 100 for the token of encouragement.
0:22:20 > 0:22:25All right, listen, what about in the sake of Anglo-Chinese relations, we say 1,100?
0:22:25 > 0:22:28- You've been very nice.- You sure?
0:22:28 > 0:22:30- 1,100, yeah, I'm sure. - OK, thank you very much.
0:22:33 > 0:22:37'It's easy to see how you could accumulate a lot of antiques in Hong Kong.
0:22:40 > 0:22:45'And the trade is sustained by fanatical local collectors.'
0:22:45 > 0:22:46HE LAUGHS
0:22:53 > 0:22:58I've come to meet Mr Rolly Wong. I've heard he's a real character.
0:22:58 > 0:22:59This is his house.
0:23:01 > 0:23:05It's a kind of scrapyard-cum-museum.
0:23:05 > 0:23:06- Are you Mr Wong?- Yes.
0:23:06 > 0:23:10- You've been doing some pruning? - Yeah, yeah, yeah.
0:23:10 > 0:23:14Cutting some tree. I tried cutting up a tree. Sorry about that.
0:23:14 > 0:23:17I didn't expect to see you with a pruning fork in your hands.
0:23:17 > 0:23:19HE LAUGHS
0:23:19 > 0:23:20Sorry about that.
0:23:20 > 0:23:22MOBILE RINGS
0:23:22 > 0:23:25- You've got two phones going at the same time.- Yeah.
0:23:25 > 0:23:30- Yeah.- Yeah? I hope you don't mind me surprising you like that
0:23:30 > 0:23:33but it's very nice of you to let me see your house. It's fantastic!
0:23:33 > 0:23:35How many pieces do you own?
0:23:35 > 0:23:37I'm not really counting.
0:23:37 > 0:23:40- Not really counting too much! - Too much.
0:23:40 > 0:23:42These are fantastic.
0:23:42 > 0:23:47Do you think of this as a museum or as a store?
0:23:48 > 0:23:50Already a museum.
0:23:50 > 0:23:53- It's already a museum?- Yes.
0:23:53 > 0:23:56Which one of these ones do you particular like?
0:23:56 > 0:23:58- Tang Dynasty.- Tang Dynasty?- Yes.
0:23:58 > 0:24:01This would originally have been on a temple? Part of a temple?
0:24:01 > 0:24:06I think they were originally inside a cave.
0:24:06 > 0:24:07- Oh, wow!- Yeah.
0:24:07 > 0:24:09Wow! Amazing! Show me this.
0:24:11 > 0:24:15This was the one you were pruning when I came in.
0:24:15 > 0:24:20- You couldn't see the head. - These are the ones, the trees were trailing down a couple of days ago.
0:24:20 > 0:24:25We had a typhoon and some trees fell down, so we just tried moving out the tree.
0:24:25 > 0:24:29That's one of the problems. If you have an outdoor sculpture park,
0:24:29 > 0:24:32the trees will fall on sculptures when you have a typhoon.
0:24:32 > 0:24:36- You can see how big this one is. - It's huge.
0:24:36 > 0:24:38What's the gesture saying?
0:24:38 > 0:24:43It says, blessing the people and here is welcome.
0:24:43 > 0:24:47So it's welcoming people into the cave to worship?
0:24:47 > 0:24:49- Welcoming and blessing you.- Yeah.
0:24:49 > 0:24:56- It's helping the people for peace and love.- Yeah.
0:24:56 > 0:24:59These things were all in the cultural revolution,
0:24:59 > 0:25:04they were smashed, destroyed, they were not valued by the government at all.
0:25:04 > 0:25:06- Er...- And now it's all changed.
0:25:06 > 0:25:11The first thing, they will knock off the head. They can sell the head.
0:25:11 > 0:25:14- They knock off the head, because of the vandalism.- Right.
0:25:14 > 0:25:18Does that make you feel sad in some ways, that you feel these things
0:25:18 > 0:25:20- have been taken and destroyed? - Very bad.
0:25:25 > 0:25:28Why do you keep all the animals like this, are you superstitious?
0:25:28 > 0:25:30- Yeah, a little bit.- A little bit.
0:25:30 > 0:25:34Is that why you have all the animals guarding your drive?
0:25:36 > 0:25:38Yes. Look, look, look that way. Look!
0:25:38 > 0:25:39My gosh!
0:25:41 > 0:25:44'Rolly Wong is certainly proud of his collection.
0:25:45 > 0:25:51'A pride matched only by some of his rather optimistic estimates of its market value.'
0:25:54 > 0:25:59Economic question - how much if you were going to buy this now or sell it?
0:25:59 > 0:26:01How much do you think it would be in Hong Kong dollar?
0:26:01 > 0:26:03Hong Kong dollars?
0:26:04 > 0:26:05Maybe, er...
0:26:08 > 0:26:09Four...
0:26:11 > 0:26:13Four... five billion.
0:26:13 > 0:26:16- Billion?- Billion.
0:26:16 > 0:26:23Hang on, so that's 5,000 million Hong Kong dollars.
0:26:23 > 0:26:25£500 million?
0:26:26 > 0:26:31- Yes.- Seriously?- Over £500 million.
0:26:31 > 0:26:33- 1 billion?- Yes.
0:26:33 > 0:26:36And it's sitting in your car park, garden area?
0:26:41 > 0:26:45'It's actually hard to know how much this collection is worth,
0:26:45 > 0:26:52'not least because of ancient Chinese reservations about buying tomb and cave statues.'
0:26:53 > 0:26:57- How many Bentleys have you got? - Er, eight.- Eight Bentleys.- Yes.
0:26:59 > 0:27:02'Reeling from the spectacle of his garden,
0:27:02 > 0:27:06'I'm curious to see what delights await me inside Rolly's house.'
0:27:10 > 0:27:13- I don't believe it! - Believe it.
0:27:13 > 0:27:15HE LAUGHS
0:27:15 > 0:27:19- Are you serious?- No.
0:27:20 > 0:27:24You're a man who's been crowded out by his own art collection.
0:27:25 > 0:27:27Wow, it's like a kind of...
0:27:30 > 0:27:32Wow! I can't believe it.
0:27:35 > 0:27:39I'm exhausted after that tour around your collection.
0:27:39 > 0:27:41I'm totally exhausted.
0:27:41 > 0:27:44Now, you've given me a very nice cup of tea but...
0:27:44 > 0:27:47- Chinese tea.- I'm getting very nervous now.
0:27:47 > 0:27:51- Don't tell me, the teacup is probably worth £2 million.- No.
0:27:51 > 0:27:55I tell you, I've seen some cups and saucers at Sotheby's...
0:27:55 > 0:27:57- They're from English. - That's all right, then.
0:27:59 > 0:28:02Cheers! Tell me more about...
0:28:02 > 0:28:07- about why you love Chinese art. - Why like Chinese art?- Yeah.
0:28:07 > 0:28:10Because I'm Chinese.
0:28:10 > 0:28:11Because, erm...
0:28:12 > 0:28:15Every, er...
0:28:17 > 0:28:21..different nation, they love their own culture
0:28:21 > 0:28:23because it's in their blood.
0:28:26 > 0:28:30That's why China, up today now,
0:28:31 > 0:28:39the people starting, discovering why China getting so big.
0:28:39 > 0:28:42So strong... Because their culture.
0:28:43 > 0:28:49So far, in my knowledge, antiquity only go up.
0:28:51 > 0:28:52It's gone up by 100 times.
0:28:52 > 0:28:55Stay, might be 1,000 times later.
0:28:57 > 0:28:58Why?
0:29:00 > 0:29:06Because the heritage, the culture is history... Past.
0:29:06 > 0:29:09- Never come back again.- Mmm.
0:29:09 > 0:29:14The collection, only so much, limitless.
0:29:14 > 0:29:16Don't you think when we get to the point
0:29:16 > 0:29:21where almost any beautiful ceramic
0:29:21 > 0:29:26associated with almost any significant Chinese Emperor,
0:29:27 > 0:29:28costing...
0:29:30 > 0:29:3420 million... Isn't there a ceiling, isn't there a limit?
0:29:34 > 0:29:3820 million for a vase. 30 million, 50 million?
0:29:38 > 0:29:40When does it stop?
0:29:42 > 0:29:43What do you think?
0:29:45 > 0:29:48What's a ceiling?
0:29:48 > 0:29:50Only you make the ceiling.
0:29:50 > 0:29:51I never see the ceiling.
0:29:53 > 0:29:55- There is no ceiling?- No ceiling.
0:29:55 > 0:29:58Nobody can stopping how much money you can make.
0:29:58 > 0:30:00No ceiling.
0:30:01 > 0:30:04Only how much you can go broke, yes.
0:30:04 > 0:30:06And the limit, ceil...
0:30:06 > 0:30:08Where you are growing, no limit.
0:30:08 > 0:30:10- So there's a floor, but there's no ceiling.- No.
0:30:12 > 0:30:13Thank you.
0:30:29 > 0:30:34'In the past decade, there really has been no ceiling on the economic growth of Hong Kong.
0:30:37 > 0:30:40'It's a global trading powerhouse.
0:30:42 > 0:30:46'And you can't underestimate how important the business of art is to the island.
0:30:52 > 0:30:56'This is Fine Art Asia, an annual event in Hong Kong,
0:30:56 > 0:30:59'and one of the world's biggest Chinese antiques fairs.
0:31:01 > 0:31:04'Beginning in 2006 as a much more humble affair,
0:31:04 > 0:31:08'it's grown six-fold in size in just a few years.
0:31:08 > 0:31:11'With more than 80 stalls, dealers come from around the world
0:31:11 > 0:31:16'to exhibit the finest works of Chinese art, in every medium.'
0:31:20 > 0:31:22I've been wandering around the Asian art fair.
0:31:22 > 0:31:28It's a huge labyrinth of Chinese art, with a million different facets to it.
0:31:28 > 0:31:34I played a little game with myself. I picked out four things that I think are really stunning.
0:31:34 > 0:31:37I picked them out without knowing how much they cost.
0:31:37 > 0:31:39Then I made enquiries.
0:31:40 > 0:31:45This is number one. It's a 19th century, stunning Imperial robe.
0:31:45 > 0:31:49It's brown, not yellow. If it was yellow it'd be really valuable
0:31:49 > 0:31:51because yellow was the colour of the Emperor.
0:31:51 > 0:31:54This means it was probably worn by a prince.
0:31:54 > 0:31:57It's got all this wonderful Chinese symbolism.
0:31:57 > 0:32:00Peony, the flower of nobility because they're hard to cultivate.
0:32:00 > 0:32:05Here we've got the earth, the waters, the clouds...
0:32:05 > 0:32:09Symbolically, it represents the whole universe.
0:32:09 > 0:32:10There's a lovely surprise inside.
0:32:10 > 0:32:12There are nine dragons in all,
0:32:12 > 0:32:17the ninth dragon, only the prince himself sees.
0:32:19 > 0:32:22Surprisingly... I think this is a wonderful object,
0:32:22 > 0:32:25Imperial provenance - fabulous.
0:32:25 > 0:32:30Yet, surprisingly, this is only, and I say, "only" 300,000 Hong Kong dollar
0:32:30 > 0:32:32which is £30,000.
0:32:35 > 0:32:37Object number two, I think this is stunning.
0:32:37 > 0:32:41I was just walking past here and I just saw it.
0:32:41 > 0:32:43There it is.
0:32:43 > 0:32:45Isn't that fantastic?
0:32:46 > 0:32:50This is Eastern Wei, that's 6th century,
0:32:50 > 0:32:53and it's part of a Buddhist stela.
0:32:56 > 0:32:58It's just fantastic, look at that carving.
0:32:58 > 0:33:02Look at that detail, you can feel that body of the Buddha.
0:33:04 > 0:33:06Look what happens when you turn it round.
0:33:06 > 0:33:07I love this.
0:33:09 > 0:33:12All these other mini Buddhas.
0:33:12 > 0:33:18And these plaques were for the names of the people who had paid for the statue.
0:33:18 > 0:33:21Isn't that fantastic?
0:33:21 > 0:33:22A beautiful object.
0:33:24 > 0:33:26But...
0:33:26 > 0:33:33It's only 400... Obviously the price rise in Chinese art has got to me
0:33:33 > 0:33:37because I'm saying it's "only" 400,000 Hong Kong dollars, ie it's only £40,000.
0:33:37 > 0:33:44By the standards again of the mania for Chinese ceramics, for example,
0:33:44 > 0:33:46that strikes me as very cheap.
0:33:46 > 0:33:52I think the reason for it is that the Chinese themselves consider fragments of statues...
0:33:52 > 0:33:55They don't have the cult of the fragment, like we do in the West.
0:33:55 > 0:33:57They don't see the beauty of the fragment.
0:33:57 > 0:34:04They consider a Buddha without a head to be an unlucky object, hence the low price.
0:34:04 > 0:34:06If I had 40 grand, I might buy it.
0:34:07 > 0:34:10This is fantastic, can I turn it around again?
0:34:10 > 0:34:12I like the other side.
0:34:12 > 0:34:16This is my object number three, it's quite heavy, isn't it?
0:34:16 > 0:34:19- Argh!- Thank you.- Thank you.
0:34:19 > 0:34:21We're manhandling it.
0:34:21 > 0:34:26This is fantastic. This is from what they call the minority territories.
0:34:26 > 0:34:31There's this area in the middle of China that developed in complete isolation from the rest
0:34:31 > 0:34:37for thousands of years. This object is probably about 3,000 years old.
0:34:37 > 0:34:41It's a cult ritual object, it's a bell of some kind,
0:34:41 > 0:34:44sounded in some kind of ritual, we don't know what.
0:34:44 > 0:34:48It takes you to another era of Chinese sculpture.
0:34:48 > 0:34:51This is almost Bronze Age sculpture.
0:34:51 > 0:34:56Fantastic with this schematised face of an angry animal,
0:34:56 > 0:35:00possibly some ritual beast, we don't know.
0:35:00 > 0:35:01Price of this?
0:35:03 > 0:35:06Mmm... Seven million Hong Kong dollars.
0:35:06 > 0:35:09They're going up, £700,000.
0:35:12 > 0:35:14This is object number four.
0:35:14 > 0:35:16The best of all, look at this.
0:35:18 > 0:35:21At first you think, "What on earth is it?"
0:35:21 > 0:35:24This photograph's really good.
0:35:24 > 0:35:27That's actually what it is, it's a bed.
0:35:27 > 0:35:30He's exploded it for the display, so you can understand how it was made.
0:35:30 > 0:35:34What an incredible thing!
0:35:34 > 0:35:37Look at it. It's Ming Dynasty, so it's 16th century.
0:35:37 > 0:35:42I suppose in our terms that would be Renaissance, the century of Michelangelo.
0:35:42 > 0:35:48But, this... This bed, I don't know who it was made for exactly,
0:35:48 > 0:35:53but there's this Chinese cult of nature, the idea that the scholar,
0:35:53 > 0:35:56the man of learning, has to retreat to nature,
0:35:56 > 0:36:01retreat to the wilderness, be in touch with nature in order to touch creativity.
0:36:03 > 0:36:08Erm, maybe this bed belonged to somebody who couldn't, perhaps a civil servant or statesman.
0:36:08 > 0:36:14What he's done is brought nature indoors in the form of these wonderful, extraordinary
0:36:14 > 0:36:19slivers of marble that have been cut back.
0:36:19 > 0:36:23They've rubbed the marble back, to find the patterns within.
0:36:23 > 0:36:26At some places they've rubbed them back to a degree
0:36:26 > 0:36:29and other places they rubbed them back quite deeply,
0:36:29 > 0:36:34in order to bring out these amazing abstract depictions of nature...
0:36:36 > 0:36:37Mountain, forest, river.
0:36:38 > 0:36:41Absolutely stunning, sensational object.
0:36:41 > 0:36:46It takes you right to the heart of that scholastic Chinese culture.
0:36:46 > 0:36:50The students of Confucius, and so on and so forth.
0:36:50 > 0:36:56Just wonderful... Unfortunately, one problem, there's a high price tag.
0:36:56 > 0:37:00It's 56 million Hong Kong dollars.
0:37:01 > 0:37:07Typical! My favourite thing in the whole fair, 56 million Hong Kong dollars - five million quid!
0:37:07 > 0:37:14'The dealer who owns this bed has been trading in Chinese furniture for more than 20 years.'
0:37:14 > 0:37:17How long have you owned the bed, as a matter of interest?
0:37:17 > 0:37:23The same time that I first joined the business, late 1980s.
0:37:23 > 0:37:30- You've had that for a long time. - Yes.- I bet you're glad you never sold it then.- Exactly!
0:37:30 > 0:37:35We pay attention on it, but we try to hide it somewhere in the warehouse,
0:37:35 > 0:37:37maybe somewhere at the back.
0:37:37 > 0:37:39Can I dare to ask you how much you paid for it?
0:37:39 > 0:37:47In pounds it was like, I don't know, £2,000, £3,000.
0:37:47 > 0:37:48HE LAUGHS
0:37:48 > 0:37:50So, let me get this straight.
0:37:50 > 0:37:55Your business bought it for 2,000 quid and now it's five million quid.
0:37:55 > 0:37:58- Yeah.- I'm going to shake your hand again on that.
0:37:58 > 0:38:00I think it's an absolutely stunning thing.
0:38:00 > 0:38:04- I'm happy. I'm happy.- A really beautiful, rare, super thing.
0:38:04 > 0:38:05Exactly!
0:38:08 > 0:38:12'Andy Hei is also the director of Fine Art Asia
0:38:12 > 0:38:15'and the event's success shows how Hong Kong's place
0:38:15 > 0:38:18'in the international art market is shifting.'
0:38:18 > 0:38:23Could there ever be a day where Hong Kong is more important to the art market
0:38:23 > 0:38:27than London or New York? Is that possible?
0:38:27 > 0:38:29Definitely it is possible.
0:38:30 > 0:38:35Actually it is starting, it's happening just like the art fair here.
0:38:35 > 0:38:38I'll put you on the spot. Do you think that Hong Kong...
0:38:38 > 0:38:42- I think...- ..is going to overtake London, Paris and New York?
0:38:42 > 0:38:47- When we put this process in order... - Yes or no?- Yes.
0:38:47 > 0:38:49Yes, definitely.
0:38:49 > 0:38:53We used to say, London, New York, Hong Kong in order.
0:38:53 > 0:38:56Now we put it this way, Hong Kong, London, New York.
0:38:56 > 0:39:01- You think it's happened already? - It's happened already. You can check with the peoples on the floor.
0:39:06 > 0:39:12The biggest single presence at the fair is the auctioneers, Sotheby's.
0:39:13 > 0:39:16They're gearing up for a big auction.
0:39:16 > 0:39:20Each of these objects is about to go under the hammer.
0:39:20 > 0:39:26But what makes a piece of pottery into a £1 million masterpiece for a Chinese buyer?
0:39:27 > 0:39:30'Kevin Ching, head of Sotheby's Asian division, explains
0:39:30 > 0:39:35'that little has changed since the days of the Admonitions Scroll.
0:39:35 > 0:39:39'The value of any object is affected by whoever previously owned it.'
0:39:42 > 0:39:47What contributes to the value of art is not only artistic value but provenance.
0:39:47 > 0:39:50What can be better than an object
0:39:50 > 0:39:54that was once part of the Emperor's private life?
0:39:54 > 0:39:59It was with the Emperor day and night and now you can have it.
0:39:59 > 0:40:02The modern emperors, in the commercial world of China,
0:40:02 > 0:40:07the new emperors of China are now playing with Imperial objects.
0:40:07 > 0:40:12If I put you on the spot and said, just imagine for a minute that you are collecting something tonight,
0:40:12 > 0:40:20what is it... Tell me your Desert Island object from this forthcoming sale.
0:40:20 > 0:40:23Then I would bring you over and show you this beautiful vase.
0:40:23 > 0:40:26Wow!
0:40:26 > 0:40:30It's a depiction of nine peaches.
0:40:30 > 0:40:36Symbols of... They're auspicious fruits in the minds of the Chinese.
0:40:36 > 0:40:39Is this another, what do you call it, Qianlong?
0:40:39 > 0:40:42It's Qianlong Emperor, made in the Imperial workshops for the Emperor.
0:40:50 > 0:40:53'Because of the vase's connection to Qianlong,
0:40:53 > 0:40:57'the legendary Emperor behind the infamous Pinner vase,
0:40:57 > 0:41:00'hopes are high for a multi-million pound sale.'
0:41:06 > 0:41:09I'm going to start this at 50 million, here with me.
0:41:09 > 0:41:1150 million...
0:41:11 > 0:41:13At 50 million...
0:41:13 > 0:41:16Here with me at 50 million.
0:41:16 > 0:41:1865 million...
0:41:18 > 0:41:2068 million...
0:41:23 > 0:41:26At 76, with Patty on the phone.
0:41:26 > 0:41:29It's Patty's bidder now... 78 million.
0:41:29 > 0:41:3080 million.
0:41:30 > 0:41:34At 80 million... No more?
0:41:34 > 0:41:35No?
0:41:37 > 0:41:40To you, Patty, thank you very much.
0:41:41 > 0:41:44£6,664,000.
0:41:47 > 0:41:51I think Kevin's going to be happy enough with that.
0:41:53 > 0:41:55'Not bad.
0:41:55 > 0:41:59'But in the same sale, something even more remarkable is happening
0:41:59 > 0:42:02'as bidding heats up on a 500-year-old Ming vase.'
0:42:04 > 0:42:0668 million, 70 million.
0:42:10 > 0:42:1175 million...
0:42:11 > 0:42:15The bidding's just reached £6 million.
0:42:17 > 0:42:22At 130 million, it's still against... 135.
0:42:25 > 0:42:27L0009, thank you very much.
0:42:27 > 0:42:29APPLAUSE
0:42:29 > 0:42:32150 million Hong Kong dollars.
0:42:34 > 0:42:38At £14 million, including fees,
0:42:38 > 0:42:41this is a world record price for a Ming vase.
0:42:41 > 0:42:44Its sale made headlines across the world.
0:42:50 > 0:42:52As I've discovered in Hong Kong,
0:42:52 > 0:42:56it seems there is no ceiling to this market for Chinese art.
0:43:02 > 0:43:07Coming here, I feel I've really felt
0:43:07 > 0:43:11the Chinese economic tiger flexing its muscles.
0:43:11 > 0:43:15We've got the threat of economic recession across the West,
0:43:15 > 0:43:21and here, people spending £9 million, £12 million on a vase.
0:43:21 > 0:43:24It's as if that kind of money is almost pocket money.
0:43:24 > 0:43:26I feel we're on a tipping point.
0:43:26 > 0:43:31That something is changing in the world order, this isn't just about art.
0:43:38 > 0:43:40But there's a flipside to this boom.
0:43:40 > 0:43:46As the price of antiques has rocketed, there's also a shadowy parallel market
0:43:46 > 0:43:49in fake objects, created to fool the unwary.
0:43:51 > 0:43:54And the fight against fraud is being led from Britain.
0:43:54 > 0:43:57At Cranfield University in Bedfordshire,
0:43:57 > 0:44:01a forensic unit has been set up to authenticate Chinese art,
0:44:01 > 0:44:04using the latest computer techniques.
0:44:06 > 0:44:10'Dr Andrew Shortland is going to test a plate for me
0:44:10 > 0:44:15'to show just how sophisticated the science has become.'
0:44:15 > 0:44:18I just wonder, I don't hold out great hopes,
0:44:18 > 0:44:21but is there any way in which you could perhaps identify
0:44:21 > 0:44:23certain characteristics of my plate?
0:44:23 > 0:44:25We'll have a go, shall we?
0:44:25 > 0:44:28You can tell me whether it's a family heirloom
0:44:28 > 0:44:31that will pay for my grandchildren to go through school, university
0:44:31 > 0:44:35or whether it's just a not very good plate.
0:44:39 > 0:44:43'Andrew x-rays my plate to see that it's intact
0:44:43 > 0:44:45'and hasn't been tampered with.'
0:44:47 > 0:44:49What you can see on here is
0:44:49 > 0:44:53the x-ray of the plate standing on its stand there.
0:44:53 > 0:44:58- It's rather more beautiful in x-ray.- Yeah, it is quite.
0:44:58 > 0:45:02What we're looking for is flaws, cracks.
0:45:02 > 0:45:06White cracks show up here in the plate.
0:45:06 > 0:45:08Would a prospective collector
0:45:08 > 0:45:11of a genuinely very valuable Chinese plate or vase
0:45:11 > 0:45:15be disturbed if you did pick up a crack of any kind?
0:45:15 > 0:45:18Is that something the Chinese collector dislikes?
0:45:18 > 0:45:20He likes his pieces to be pristine.
0:45:20 > 0:45:23I think it would be the case for all collectors, yes.
0:45:23 > 0:45:27Particularly the Chinese. The demand is for the perfect.
0:45:27 > 0:45:29The pristine.
0:45:29 > 0:45:33And, in terms of condition, actually, we've had a very quick look here
0:45:33 > 0:45:36and it's pretty much intact, your plate.
0:45:37 > 0:45:39'So my plate isn't cracked.
0:45:41 > 0:45:43'But to discover how old it is
0:45:43 > 0:45:47'involves a day's worth of more complex testing,
0:45:47 > 0:45:49'analysing the composition of the paint.'
0:45:59 > 0:46:01I can't bear the suspense.
0:46:01 > 0:46:04OK, my plate's been sitting in your machine.
0:46:04 > 0:46:06What can you tell me about its age?
0:46:06 > 0:46:08OK, well, here's your plate here.
0:46:08 > 0:46:11You can see the camera image of it.
0:46:11 > 0:46:13What we've done is we've looked at
0:46:13 > 0:46:16all sorts of different areas of your plate,
0:46:16 > 0:46:19looking at the compositions.
0:46:19 > 0:46:22So we can look at the glazed area and we can look at the enamels.
0:46:22 > 0:46:25The enamels are coloured by different colouring elements,
0:46:25 > 0:46:28and they're all coloured, fluxed with lead,
0:46:28 > 0:46:32so they're all lead enamels.
0:46:32 > 0:46:34Into that lead has been placed
0:46:34 > 0:46:37certain amounts of other elements to give the colour.
0:46:37 > 0:46:42At the moment, your plate is consistent with the 1850s,
0:46:42 > 0:46:44the middle of the 19th century.
0:46:44 > 0:46:46- But that's not terrible news. - It's not terrible news.
0:46:46 > 0:46:48It wasn't made yesterday,
0:46:48 > 0:46:52but I wouldn't go spending the school fees at the moment if I were you.
0:46:52 > 0:46:54OK, well, thank you for that.
0:46:54 > 0:46:56- You're welcome.- That's great.
0:46:56 > 0:46:59I suppose the question that really begs in my mind is,
0:46:59 > 0:47:07why now devote this degree of scientific ingenuity,
0:47:07 > 0:47:08database-building...
0:47:08 > 0:47:15Why now should all this be brought to bear on Chinese ceramics?
0:47:15 > 0:47:17What's the reason?
0:47:17 > 0:47:19Well, I think the driver is that
0:47:19 > 0:47:22Chinese ceramics are going up and up and up in value.
0:47:22 > 0:47:26They regularly fetch over a million pounds at auctions now
0:47:26 > 0:47:30so the amount of effort it's worth going into for the forger
0:47:30 > 0:47:33is considerably higher than it used to be
0:47:33 > 0:47:35cos the value is so much greater.
0:47:35 > 0:47:40So it's almost like an ingenuity race, a kind of ceramics Cold War.
0:47:40 > 0:47:43Their ingenuity is getting greater in faking them
0:47:43 > 0:47:46because the money is so much they could spend a year getting it right.
0:47:46 > 0:47:49- The reward, potentially, is so great?- That's right.
0:47:49 > 0:47:52And you're running to keep up and overtake?
0:47:52 > 0:47:54Exactly. Yes, exactly that.
0:47:57 > 0:48:02'My 19th century plate is worth a respectable couple of hundred quid
0:48:02 > 0:48:06'unless, of course, I can prove it was owned by an emperor.'
0:48:09 > 0:48:11But back in London,
0:48:11 > 0:48:16people will be hoping to see objects selling for rather bigger figures.
0:48:18 > 0:48:21Dealers and collectors are jetting in from around the world
0:48:21 > 0:48:25for the next big date on the Chinese arts calendar.
0:48:27 > 0:48:29DRUMS BEAT
0:48:29 > 0:48:32Well, it's one of the most exciting events of the year.
0:48:32 > 0:48:35And they're certainly banging a drum for it.
0:48:35 > 0:48:37In fact they're banging several drums for it.
0:48:37 > 0:48:40Asian Art in London. Tonight's the opening.
0:48:40 > 0:48:43All the big players are going to be there
0:48:43 > 0:48:46and they're all looking for the next big bargain.
0:48:48 > 0:48:50Asian Art in London is now in its 14th year
0:48:50 > 0:48:55and it's got bigger as the Chinese art market has exploded.
0:48:56 > 0:49:00This is a gathering of the great and good of the Asian art world
0:49:00 > 0:49:03letting their hair down tonight,
0:49:03 > 0:49:05because tomorrow it's all about
0:49:05 > 0:49:08the serious business of buying and selling.
0:49:12 > 0:49:17Jacqueline, what role does an event like Asian Art play in the market?
0:49:17 > 0:49:19It provides an event which is a focus,
0:49:19 > 0:49:23so visitors from overseas come into London.
0:49:23 > 0:49:26You have 40 to 50 dealers who specialise in Asian art
0:49:26 > 0:49:29putting on their best shows for sale.
0:49:29 > 0:49:33Exhibitions in all the galleries around the centre of London.
0:49:33 > 0:49:36Some people might say, "Why London?
0:49:36 > 0:49:39"What's London got to offer now that increasingly
0:49:39 > 0:49:42"we're getting these fairs, these events in Hong Kong, Beijing?"
0:49:42 > 0:49:45What makes London special?
0:49:45 > 0:49:49Why should people interested in Asian art want to come to London?
0:49:49 > 0:49:53- It's a sort of devil's advocate question.- London is London.
0:49:53 > 0:49:55Think about it. There's so much to do here.
0:49:55 > 0:49:59For Asian art you've got wonderful museums,
0:49:59 > 0:50:01the Victoria & Albert Museum we're in now, top dealers
0:50:01 > 0:50:04and you've got a wonderful range of things you can buy.
0:50:04 > 0:50:06Might be a good place for a collector of Asian art
0:50:06 > 0:50:10to broaden their taste and look at collecting other things as well.
0:50:10 > 0:50:12No, no, certainly.
0:50:26 > 0:50:29Next day, time to see what's on offer.
0:50:29 > 0:50:31First stop is Christie's,
0:50:31 > 0:50:33which has an remarkable collection
0:50:33 > 0:50:36of Chinese cups made from rhino horn.
0:50:41 > 0:50:44So, Pedram, what is it that you've chosen
0:50:44 > 0:50:47to show me from all of the things in your sale?
0:50:47 > 0:50:52Well, we have a very special rhinoceros horn carved stem cup,
0:50:52 > 0:50:57which is Chinese obviously, and it dates from the late 17th century
0:50:57 > 0:51:02and what's particularly special about this is the shape that it's carved in
0:51:02 > 0:51:04and also the design carved around the exterior
0:51:04 > 0:51:08which is what's known as the Hundred Boys design.
0:51:08 > 0:51:10- May I?- Of course.
0:51:10 > 0:51:13Is there significance to the fact it's made out of rhinoceros horn?
0:51:13 > 0:51:15Might that have played into
0:51:15 > 0:51:19some ancient myths or superstitions in the Chinese mind?
0:51:19 > 0:51:22Yes, well, the myth and the superstition is that
0:51:22 > 0:51:27they were used as ritual vessels for ceremonies and so on.
0:51:27 > 0:51:31And possibly for the Emperor or a very high-ranking official
0:51:31 > 0:51:36or important person within the court.
0:51:36 > 0:51:39The myth is that they would drink from these cups
0:51:39 > 0:51:42because it would protect them from poisons, basically.
0:51:42 > 0:51:44They wouldn't drink it as an aphrodisiac
0:51:44 > 0:51:47before attempting to father little emperors?
0:51:47 > 0:51:50That's what I heard rhinoceros horn was associated with.
0:51:50 > 0:51:54There is the association with an aphrodisiac, yes,
0:51:54 > 0:51:56and medicinal purposes.
0:51:58 > 0:52:02'My curiosity duly piqued by these exotic objects,
0:52:02 > 0:52:06'it's time to move on to another of London's great auction houses.
0:52:06 > 0:52:07'Bonhams.'
0:52:10 > 0:52:13The star attraction here is a 16th century vase
0:52:13 > 0:52:16made in the blue and white colours of the Ming Dynasty,
0:52:16 > 0:52:19with an estimate beginning at £300,000.
0:52:21 > 0:52:25What is shows is something in Chinese terms, is hugely important,
0:52:25 > 0:52:27it's children, and boy children at that.
0:52:27 > 0:52:29These are all boys
0:52:29 > 0:52:31and I think in the Imperial court in the 16th century,
0:52:31 > 0:52:35to have something which suggests the continuity of the dynasty,
0:52:35 > 0:52:40the production of children and particularly boy children.
0:52:40 > 0:52:42Some of them are playing on hobby horses, balancing,
0:52:42 > 0:52:44walking around with a staff.
0:52:44 > 0:52:47This one here is sitting.
0:52:47 > 0:52:49It has the mark of the Emperor Jiajing,
0:52:49 > 0:52:52who ruled between 1522 and 1566.
0:52:52 > 0:52:55All the elements in this to suggest to whoever made it for him,
0:52:55 > 0:52:56for the imperial commission,
0:52:56 > 0:53:00may the dynasty continue under your inspired leadership.
0:53:00 > 0:53:01This is a wonderful object.
0:53:01 > 0:53:05It's redolent in every respect of an imperial commission.
0:53:05 > 0:53:08At the same time as Henry VIII was filling his London palaces,
0:53:08 > 0:53:11Jiajing was filling his palaces with great porcelain.
0:53:11 > 0:53:14It's a wonderful thought, it's exactly the same time
0:53:14 > 0:53:16as Holbein is painting The Ambassadors,
0:53:16 > 0:53:20the maker of this vase, is creating his own painting.
0:53:28 > 0:53:32'But now the time for just looking at objects is coming to a close.'
0:53:35 > 0:53:39It's auction time, the grand climax of Asian Art in London.
0:53:43 > 0:53:47In Christie's, the rhino horn lots are going under the hammer.
0:53:47 > 0:53:50Bidding for the cup that Pedram showed me
0:53:50 > 0:53:53reaches nearly a quarter of a million pounds.
0:53:53 > 0:53:56For £240,000.
0:53:58 > 0:54:00Sadly not enough to secure a buyer,
0:54:00 > 0:54:03but the rest of the collection sells well,
0:54:03 > 0:54:06going for more than three million quid.
0:54:07 > 0:54:09Do you want another one?
0:54:11 > 0:54:15At Bonhams, I'm keen to see how much the Ming vase is going to reach.
0:54:18 > 0:54:20180,000 for this. 180.
0:54:20 > 0:54:23190. 200,000.
0:54:23 > 0:54:27220,000. At 220,000.
0:54:27 > 0:54:29280,000.
0:54:30 > 0:54:33Any more? It's against the telephones now at £280,000.
0:54:36 > 0:54:39At £280,000, there we are.
0:54:39 > 0:54:42280.
0:54:42 > 0:54:44£280,000!
0:54:44 > 0:54:50The amazing thing is he's probably slightly disappointed with that.
0:54:50 > 0:54:53That's £20,000 below the lower end of the estimate
0:54:53 > 0:54:57but still, more than a quarter of a million pounds.
0:54:59 > 0:55:03'But the auctioneer's not disappointed for long,
0:55:03 > 0:55:09'as bidding heats up over an 18th century vase made for, who else,
0:55:09 > 0:55:11'that famous Qianlong emperor.'
0:55:13 > 0:55:15Six million. Six.
0:55:17 > 0:55:19Julian's bid.
0:55:21 > 0:55:24It's here at seven million.
0:55:24 > 0:55:28100,000.
0:55:28 > 0:55:33Selling it for £8 million.
0:55:33 > 0:55:35Fair warning, both of you.
0:55:35 > 0:55:38Eight million, sold!
0:55:38 > 0:55:40APPLAUSE
0:55:44 > 0:55:46This is the big story of the week.
0:55:46 > 0:55:51Soaring over its estimate, costing £9 million including fees,
0:55:51 > 0:55:55this is the highest price paid for an object
0:55:55 > 0:55:57during Asian Art in London.
0:55:57 > 0:56:03And the whole event secures record sales of over £57 million.
0:56:14 > 0:56:18'Even if this boom in Chinese art doesn't last forever,
0:56:18 > 0:56:22'I still think of it as a game-changing phenomenon.
0:56:23 > 0:56:25'It's going to make us in the West
0:56:25 > 0:56:29'fundamentally change the way we think about art,
0:56:29 > 0:56:32'and about what counts as a masterpiece.'
0:56:38 > 0:56:40Up until now, if you were to make a list
0:56:40 > 0:56:43of the ten most valuable works of art in the world,
0:56:43 > 0:56:47they'd all have been Western, they would probably all be paintings,
0:56:47 > 0:56:50the sort of thing you find in the National Gallery,
0:56:50 > 0:56:53works of art by the likes of Titian or Velazquez.
0:56:53 > 0:56:56But with the ascent of Chinese art, all that's changed.
0:56:56 > 0:56:58It's wonderfully liberating, I think.
0:56:58 > 0:57:00We've entered a whole new world
0:57:00 > 0:57:05where we can realise that a beautiful Confucian scholar's bed,
0:57:05 > 0:57:07inlaid with marble to look like landscape,
0:57:07 > 0:57:13is every bit as moving and powerful as a Renoir landscape.
0:57:13 > 0:57:16And where a jade can be every bit as precious as a Jasper Johns.
0:57:16 > 0:57:21So perhaps it's time to have one more root around in that attic.
0:57:47 > 0:57:50Subtitles by Red Bee Media
0:57:50 > 0:57:54E-mail subtitling@bbc.co.uk