Author: Hao Xifeng

Chapter 320 316. Internal competition

In the 19th century, the rapid development of industry and foreign colonization brought a large amount of wealth to the European continent, and urban upstarts also sprung up like mushrooms after a rain.

But if you want your money to grow more and more, you can’t just leave it like this. You need to find investment targets. From the second half of the 19th century to the early 20th century, national bonds had not yet appeared, the gold standard was limited by gold production, and inflation was very stable. Then

There is just no inflation.

Under the premise of low inflation or even occasional deflation, there are not many things worth investing in.

In addition to trust funds for infrastructure construction, government bonds, various types of corporate financing, and real estate leasing, the only way to get extra money is to invest in various side businesses. Stocks and gold are stagnant water, and luxury brands have just started, so it is far better to put them in the bank to earn interest.

However, due to the uncertainty in the economy, the return on investment fluctuates greatly, coupled with the imperfection of laws and technology, there are a lot of loopholes in some financing and trust funds, and it is easy to return to the situation before liberation overnight.

Under this background, many people are keen to buy hard currencies such as wine and jewelry, at least without losing money.

Compared with these things, the special temperament of the artwork seems out of place.

Whether it is Paris, France in the 19th century, or the United States in the 21st century, the art market appears to be extremely fragile. The main and fundamental problem is that art cannot provide any benefits other than art itself.

To put it bluntly, it is useless to hold it.

This is more daunting to investors than "low liquidity", "low transparency", "high transaction costs" and "the inability to achieve standardized appraisal and valuation".

Even though the pursuit of art reached a fever pitch in the 19th century, and even though everyone was willing to go to an auction house to see if there was a favorite work that they could afford, there were only a handful of things that could actually sell for high prices.

One of the important reasons is that people who buy it really like it enough after thinking that it will not depreciate in value, while those who don't like it will not waste their money too much.

In fact, even in modern times, whether art is worthy of investment is widely debated. Perhaps complex data models can support the view that "art can be an effective investment", but it is still unavoidable that "art cannot be measured with similar stock price charts."

The shortcoming of "intangible attributes in an aesthetic sense".

But this has nothing to do with Kawhi.

He doesn’t understand history or art, but he understands the appreciation potential of artworks.

With this logical relationship, Kawei considered the bank's interest rate of less than 3%, and the long-term returns of art works would definitely win out. In addition, buying a large number of other items can also dilute his obsession with Oriental collections, so why not do it.

Kavey looked at lot number two on the auction table [the manuscript of two minuets by Mozart] and raised his hand: "600 francs." [1]

"The gentleman on the left, continue to bid 600 francs!" Bernard realized that today would be a good day after seeing that the Jade Girl pen holder was pocketed by Carvey for nearly twice the estimated amount, "Do you still have to bid?

of?"

The two queens were surprised as to why Kawi would be obsessed with a dead man's manuscript. Even though the other person was a talented musician at the time, the remaining music is the most important.

"He is an Austrian, Her Majesty the Queen." Kawei smiled and said his reason, "When I saw it, I decided to send it back to Austria."

"He is really a nostalgic person."

600 francs had obviously reached the critical limit of the audience, and no one was willing to pay a large price to buy such a yellowed piece of music. With Bernard's hammer down, the manuscript also fell into the hands of Carvey.

The following third piece [Qing Dynasty Soldier Clothes, Weapons and Accessories] and the fourth piece [Little Bronze Dragon] were also bought by Kavi for two 500 francs.

Until the fifth piece [Messenne porcelain tea cup and saucer], it was finally taken by Elizabeth sitting aside for 1,000 francs: "I have no resistance to this porcelain, just like you have no resistance to Oriental collections."

"I understand this feeling." Eugenie comforted her with a smile, "but I have met my opponent today. I'm afraid Dr. Carvey wants to take home all the things that Elizabeth doesn't want."

"The next item, the sixth lot today, [Drinkers at the Farm of Saint-Simon - a work by Eugène Boudin]."[2]

Bernard said: "This work is an emerging Impressionist painting style. It is difficult to find the outline of the characters in the picture. It has mixed reviews in Paris today. Since the seller has certain requirements for the price of this painting, the starting price is set

It’s 300 francs.”

Impressionism.

What Kawei had in mind was Monet, and others didn't know. But since the price was really cheap, he still raised his hand to bid. That is to say, because of this bid, the oil painting came into Kawei's hands again.

Only 450 francs?

Kawei couldn't imagine it, nor could the people around him, because Eugène Boudin was not well-known and sounded more like a poor newcomer. The lowest price was already quite good, and if he could go to an art exhibition, the price might be even lower.

After all, 100 francs is enough for an ordinary painter to live for a long time.

But in the end, Bernard did not announce that Carvey had obtained the oil painting, because the reserve price proposed by Brigadier General Avery was 600 francs, so it could only fail to sell.

Unsuccessful sales are common at auctions, and Bernard has long been used to it. What's more, when he appraised the painting, he only gave an estimate of 400 francs. If he wanted to go higher, he could only give it a price of 400 francs.

caused by unexpected factors.

The reality was just as he thought, and Kawei was the unexpected factor.

Bernard was curious as to why this young man wanted to have a hand in all the auctions. Was it to show off his wealth? Or was he trying to show off his taste in front of the two queens? Or was he a collector?

It doesn't feel like it.

Kawei behaves more like a nouveau riche who has nowhere to spend but throws money around.

But if you really are a nouveau riche, why not go to the Angel's show next door? That's where the real nouveau riche gather. Why bother digging through the trash here?

While doing psychological evaluation and identity analysis for Kawei, another part of Bernard's brain had already accelerated the pace, trying to make people forget the unpleasantness of the failed auction as soon as possible: "The seventh lot, [Part of the Manuscript Booklet of the Old Summer Palace in China], starting price

400 francs."

"Book? What book?"

"We haven't seen it in the catalogue."

"Don't talk about catalogues, I didn't see any books in these two exhibitions."

"Did you forget to add the picture album, or did you not want to add it at all? Or"

There were a lot of noisy questions immediately outside the venue. Bernard knew that things would be like this, and his expression was particularly calm: "Everyone, this is not a problem of the auction, it is something temporarily added by Marquis Avery."

"We have never seen the exhibition and there is no introduction. How can we believe that it is real?"

Bernard sighed: "The writing on it is all Chinese characters arranged vertically, and the layout and binding are also in oriental style. The introduction is very simple, it is just a book that no one knows what is written, and the starting price is 400 francs."

Kawei couldn't see clearly what the book looked like, and the handwriting was even more blurry.

But this is something that has been taken away and must be bought: "400 francs."

Queen Eugenie smiled, raised her hand and said: "500 francs."

"600 francs."

"700."

Eugenie once again surpassed Kavi's price, and the competition between the two gradually gained momentum: "Your Majesty the Queen, aren't you not interested in oriental writing, calligraphy and painting?"

"Huh? Where is it?" Eugenie's smile slightly raised the corners of her eyes that were usually lowered, and she said, "I just don't understand what they wrote, and I don't understand their mood when painting. It doesn't mean I don't want it."

Kawei sighed, smiled and shook his head: "This is really too bad."

The two's yearning for Oriental collections caught Bernard's eyes. The competitive relationship has been established. The next thing to do is to add firewood to this relationship and make their competition more intense: "700 francs, are there any bids left?"

of?"

"."

"Queen Eugenie now bids 700"

"."

"700 francs, now it's 700 francs!"

His voice gradually increased, and the frequency of quotations also began to increase, hoping to use repeated quotations to stimulate Kawei's desire to bid. Unexpectedly, Kawei suddenly raised his hand and said not the price, but a request: "Excuse me, I

Can you come up to the stage and take a look at the contents of this book?"

"Sir, there are Chinese characters inside." Bernard was a little surprised, "I don't think anyone except the Marquis Hervé and the yellow-skinned Chinese can understand what is written inside."

“But it’s also true that it’s not in the catalog or exhibition,” Kawei said.

"Well, if you insist on doing so, I have no objection." Bernard made a polite gesture of invitation, "But in order to maintain the overall time of the auction, it is only limited to 3 minutes."

"no problem."

However, Kawei hurriedly walked onto the stage, turned two pages in front of everyone, and quickly returned to his seat.

"What did you see above?" Eugenie wondered, "Do you understand their writing?"

"I know a Chinese student who came here to study, and I learned the names of several Chinese emperors from him. Believe me, it is really difficult to understand. It is more complicated than the complicated medical anatomy relationship." Kawei explained, "

But thanks to this, I am now certain that the names of the emperors are indeed on it."

"so."

"So I can't give up at least now." Kavey raised his hand, "750 francs."

"Okay, this gentleman bids 750 francs! 750 francs!" The fast pace just now was interrupted, which also interrupted the atmosphere of Bernard "forcing" the two to increase the price. However, as Carvey shouted the price, Bernard still had control.

Taking the initiative in the auction, "This book is valued at more than 800 francs. Is there any increase in price?"

The sudden appearance of the Chinese became a variable in the competition between the two.

Eugenie and Elizabeth are both important figures on the political stage of their respective countries, but unlike Elizabeth, who pursues freedom and romance, Eugenie appears more stable and smoother than her husband.

She wanted books, but books would only increase the thickness of the table mat in the China Pavilion. And the "Chinese"...

This stack of books was easily taken down by Kawei again.

"That Chinese?" Kawei looked confused. "He is very interested in French science and technology, especially medicine, and is very eager to learn. But he is very disgusted with France's plundering of their country's cultural relics. I don't think he can help you.
To be continued...