About the CKGSB MM
Chinese Art Indices

China now commands a 20% share of the global art market, trailing only behind the US, as highlighted in the 2021 Art Basel and UBS Global Art Market Report. The MM Chinese Art Indices were established in September 2023 by CKGSB Professor of Finance, Mei Jianping, in response to this trend, with the purpose of monitoring developments and evaluating the Chinese art market.

The MM Chinese Art Indices provide a comprehensive measure of prices of artworks, market sentiment, liquidity, and artists’ popularity. The aim is to offer a systematic framework to guide investment decisions in Chinese art – often considered a “black box” to many in the art investment world.

The MM Chinese Art Indices include:

• Price Index: Tracks the shifts in Chinese art prices over the past two decades.
• Sentiment Index: Assesses the overall mood of the Chinese art market.
• Liquidity Index: Focuses on the most in-demand Chinese artists living in Greater China and overseas by measuring three liquidity indicators: years on auction, turnover rate, and liquidity.
• Popularity Index: Gauges the popularity of select well-known artists by measuring the market performance of their repeatedly auctioned works.

The aim is to offer a systematic framework to guide investment decisions in Chinese art – often considered a “black box” to many in the art investment world.

The indices are based on the auction records of Sotheby’s, Christie’s and Phillips in Beijing, Shanghai, Singapore, Paris, London and New York, as well as artprice.com.