Cash in China's Attic: A Culture Show Special

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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