Art Collection's Four "Musts"

Authenticity means it's got to be the real McCoy. As beautiful and exquisite as an art object may be, once it's been proved a fake it loses all historical and creative significance and is practically worthless. And the forging of art objects, it so happens, has been prevalent in China since antiquity. Collectors in the Sung dynasty (960-1279) liked to counterfeit bronze ware, while those of the Ching (1644-1911) focused on Sung and Yuan porcelain. During the 18th century, many ancient ceramics in the imperial palace were given to the imperial workshop for copying. The time-honored idea that while counterfeits may be illegal, imitations are harmless, combined with today's advanced technology, has resulted in a confusing jumble of the spurious and the authentic. Distinguishing the genuine from the fake is a problem of prime importance for collectors and investors in Chinese art.

"Choice" means discrimination in selection. Novice collectors, lacking resources and expertise, often buy a range of second-rate objects with little resale value which they soon grow tired of but are reluctant to throw away. Accumulating expensive trash often means headaches later.

A saying among collectors goes, "An antique with a scuffed edge isn't worth a nickel." Pristine condition is especially important for porcelain, where a chip or a crack may reduce an object's value by tenfold. Exceptions are truly rare articles and items from remote antiquity, such as objects unearthed from the Tang dynasty (618-907) or earlier.

That scarcity means costliness is especially true for art objects and antiques. The price of ancient painted pottery, for example, has tumbled in recent years as large quantities of it have been unearthed on the mainland, and investors who paid hefty prices for a piece several years ago can now only sigh at their ill timing.

Before the average person can hope to turn a profit by investing in art or antiques, he needs--besides interest and financial ability--a wealth of experience, seasoned judgment, and luck.