- Nov 17, 2020
- Business Update
Livestream boosts JD’s Auction Price on Treasure Pieces
by Hui Zhang
JD Auction together with state-level intangible cultural heritage inheritors and Qin Hao, a Chinese actor, launched a public welfare auction on treasure pieces on November 7th, with all proceeds from the auction donated to the China Social Assistance Foundation to support cultural development in impoverished areas and ethnic minorities.
All the items on auction were created by intangible cultural heritage inheritors, contemporary craft masters and internationally renowned artists, with the highest premium at up to 400% and the largest number of bids at 22 times.
Millions of people participated in the live auction, according to JD’s data. The painting “Along the River During the Qingming Festival (Hongqiao)” by Zhang Jianshu, inheritor of the Chinese intangible cultural heritage “Bian Embroidery”, was created on a silk and sericulture backing, with exquisite detailed embroidery by hand. After 22 bids, the lot was finally sold at RMB 30,500 yuan, representing a premium of 52.5%.
The highest premium on record was surpassed with a sculpture created by Chen Mingliang, a Chinese master of arts and crafts. The sculpture is based on an ancient Chinese scholar figure. The price went from RMB 10,000 yuan, and ended at RMB 50,000 yuan after 18 rounds of bidding, and the premium was as high as 400%.
“As a combination of public welfare and auction, the audience can not only learn more knowledge from the masters through livestream and improve understanding of traditional culture, but also help more people in need,” said Qin Hao.