| Summary: | 碩士 === 國立臺灣師範大學 === 美術學系在職進修碩士班 === 100 === Investments on negotiable securities, immovable properties and art crafts are regarded as the three target investments to enrich people, in which art investment is listed on the top. The Mei Moses Art Index, proposed by Jian-Ping Mei and Michael Moses in their research on the price of art investment, reveals that the average rate of return of negotiable securities was 11.7% while that of art crafts was 12.6% in the last 50 years; the art investment is much more profitable.
The collectors in the western art market have been keeping a high opinion of the celadon in China, known for those from Ju Ware, Longquan, Guanyao, Yaozhou and Yingqing in Song Dynasty. The celadon pieces from Ju Ware are rare; those from Yingqing are too many to be sold at a good price. So my study focuses on the inter- national auction market of the carved and the circle celadon from Longquan, Ganyao, Yaozhou, analyzing their price changes and cost-sale relationship with the statistical data, annualized rate, and return on investment.
After the economic reform in 1978, the New Rich has become the majority in the art market since 2001, which results in a rapid, almost multiple, growth of the ancient celadon price. The period from 2001 to 2010 is the golden decade of the Chinese art market. Since international auction is the window to the shift of art market, its auction results are credible. My research analyzes the auctions of Christie’s, Sotheby’s, China Guardian Company, and Beijing Hanhai Company in London, New York, and Hong Kong from 2001 to 2010, reflecting the celadon’s market value and its trend through the public OBV.
With the cost-sale analysis of the Song celadon in the first decade of the 21st century, my research can provide the collectors with information indispensable to their reservation and investment.
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