Sally He in Conversation with Poly Auction Junior Specialist Joyce Tsoi
Joyce Tsoi is a Junior Specialist at the Chinese Ceramics and Works of Art department at Poly Auction Hong Kong. Poly Auction is a Hong Kong auction house founded in 2012, one of the biggest auction houses in China, where it has the most significant volume of Chinese art transactions at auctions worldwide.
In this exclusive with MADE IN BED, Joyce shares her expertise in current market trends within her department. But, more broadly, she offers insight into how this emerging auction house responds and reacts to the art market environment in Hong Kong.
Joyce Tsoi.
Sally He: When did you start to get into Chinese works of art, and how did you begin your journey with Poly Auction?
Joyce Toi: I studied cultural management at the Chinese University of Hong Kong; during my study, I had the opportunity to work at different auction houses as a preview assistant; through the working experience, I fell in love with Chinese works of art, especially ceramics. I decided to minor in fine art at my university to enhance my knowledge and experience with Chinese works of art.
In my last semester at University, I had a chance to join Poly Auction as an intern at the Chinese works of art and ceramics department, where I took up the responsibility for the majority of administrative work. I am a junior specialist; this is my fifth year with Poly Hong Kong.
Sancai Glazed Jar, Tang Dynasty, 618 -907. Image courtesy of Poly Auction Hong Kong.
SH: Working in the department of Chinese Ceramics and works of art, you must have come across a vast selection of different art pieces. Which of the artworks you have acquired so far has been your favourite?
JT: It is a Sancai-glazed pottery jar. During Poly Auction’s tenth anniversary sales, we dedicated one sale to Tang Sancai: ‘Tang Sancai Ceramics From The Ten-views Lingbi Rock Retreat Collection’. Although it is not the most expensive piece we have ever sold, I always retained a massive connection with it.
The texture and the colour quality are exquisite. Furthermore, it has an exceptional provenance and collection story that has travelled worldwide. It started its journey in Hong Kong and went to Eskenazi. Then it came to The Ten-views Lingbi Rock Retreat Collection. After returning to Hong Kong, for me, it not only symbolises the history that the jar retains but also the spread and expansion of our culture around the globe.
SH: As a Junior Specialist, what is your general routine throughout sale preparations and on the sale day?
JT: : We share work responsibility within our team; we all need to undertake responsibility for the consignment, marketing and sales services. Specifically, we share condition checking, cataloguing the items, measuring the size, photographing, and marketing commitments.
Within marketing, it is essential to maintain a balanced focus with our clients both in mainland China and around the globe. However, for each, we utilise different marketing strategies. With clients in mainland China, we focus the marketing on the Xiao Hong Shu platform. Here we upload videos and photos for our upcoming sales and live stream the live auctions. With our global clients, we usually turn to Instagram and Facebook. This is partly because we can advertise our upcoming sales in English and Chinese.
Moreover, as a team, we also mutually maintain relationships with our clients; this is one of our jobs' most essential yet challenging aspects due to the immense competition. Also, auction preview is important for our clients to view the items in person; we spend time designing the floorplan to highlight the beauty of each lot.
10th Anniversary Auction, by Poly Auction Hong Kong, 2022.
SH: What challenges have you encountered whilst working in the dynamic auction environment?
JT: As I mentioned, this is a highly stressful working environment. This is especially true during the primary auction season, where the consignment is competitive. As a growing auction house, we need to make more effort to attract clients to buy and sell with us.
Within auction preparations, responsibilities such as cataloguing, photography, and floor layout occur concurrently. This technical, detailed process makes this initial planning phase more stressful. This is only enhanced by the fact that our catalogue publisher is in the nearby city of Shenzhen. Because Covid-19 laws are rigid and the publisher is not in Hong Kong, contact is problematic. To combat this, we connect virtually. However, due to the differences in technology, the colour quality varies. We initially tried to publish catalogues online to avoid any colour issues. However, our senior clients did not react favourably, as they preferred print editions. Ultimately, despite the added cost of printing auction catalogues, we decided to continue providing physical catalogue copies alongside digital ones.
SH: Hong Kong has a favourable geographical location and character as a free port. Do you think it provides it with advantages compared to other Asian markets?
JT: Even now, Hong Kong remains a profitable and popular art market. The resilience of Hong Kong's art market is attributable to the city's valuable museums, public art institutions, dozens of international galleries, its thriving ecosystem of art-related professional services, and its large market. Moreover, because auctions and fairs richly fuel it, Hong Kong continually secures the art business despite the socioeconomic impact of Covid-19. In this context, the concept of a prospective and future economic recovery driven by Asia, particularly this Special Administrative Region, is gaining traction.
10th Anniversary Auction, by Poly Auction Hong Kong, 2022.
SH: In the consignment process, how does the department determine the different mediums of work that will be in sale?
JT: The consignment decision depends on the auction's location, as this will affect the number of lots sold. Recently our department promoted several special sales which constitute educational purposes, such as during the tenth anniversary, we launched a sale dedicated to Sancai, which specifically marketed the usage and the history of Sancai, allowing more audience to know and gain knowledge on specific Chinese works of art, where the targeted educational marketing has helped intensively on the promotion of the auction.
Typically, with Poly Auction, we have three specific auction locations: the Poly Gallery, which will acquire 200 pieces; the Grand Hyatt, where we host the auction and previews; the Hong Kong Conventional and Exhibition Centre, where the 10th-anniversary auction was the host. However, regardless of the auction's location, as a department, we also need to consider the current economy and its potential purchasing power, affecting the pieces the department will acquire. Additionally, due to the limited number of lots that can be auctioned in each sale, we pay attention to the rareness and the value of the collections.
SH: In terms of the ratio between a live and online auction, I have noticed many online auctions in previous years. In your view, are there any significant advantages of making auction sales online?
JT: The online auction is a by-product of Covid-19, which certainly has some advantages to the market.
Firstly, it attracts new clients who might be put off by the prospect of attending live auctions or prefer to work remotely. Secondly, the online auction is an excellent platform to sell works of art which are valuable but typically deemed unsuitable for primary sales. Thus, entry-level clients can buy or sell great art more quickly.
Moreover, online auctions have helped more traditional buyers adapt to our technological times. We found that once they adapted to the dynamics of online auctions, many traditional in-person buyers enjoyed that they did not have to attend auctions and bid in the room. Moreover, connections between the auction house and our clients grew because they had to place more trust in us as a service to buy and sell works.
Bus advertisement for 10th Anniversary Auction, by Poly Auction Hong Kong, 2022.
SH: With the most recent auction with your department during July 2022, were there any notable consignments of the sale?
JT: The 10th anniversary auction was the first time our department went to the Hong Kong conventional and exhibition centre. For the occasion, we dedicated four special sales to celebrate the department.
The four individual sales were: Tang Sancai Ceramics from The Ten-views Lingbi Rock Retreat Collection; Qian Long: The Huai Haitang collection sale; Colours Beyond Landscapes: Important Chinese Art including European and American Collections and Chinese Ceramics and Works of Art.
Those four auctions were each dedicated to a different field to celebrate all the departments' areas through distinctive collections. Furthermore, the department permitted viewing rooms to be open to visitors for four days to highlight the groups, achieving a combined sale total of over HKD 338 million, and six lots achieved more than HKD 10 million.
SH: Where do you think Chinese ceramics and works of art are best placed within the scope of the art market?
JT: The ethos and ideology behind Contemporary Art are entirely different from Chinese works of art and ceramics. When researching the top ten artworks sold during 2022 in Hong Kong, there were only two Chinese works of art and ceramics; this included a rare and outstanding huanghuali folding horseshoe-back armchair, jiaoyi, Late Ming dynasty from the late sire Hotung collection evening sale with Sotheby’s Hong Kong.
These statistics reflect how the high-quality rare pieces will still get many attractions and receive good results. The movement also reflects the available change of taste and appreciation towards Chinese works of art and ceramics due to the growing knowledge about such incredible pieces. Yet, the general trends need to catch up to the popularity of Contemporary Art. This has yet to happen because of limited resources from which one may learn about Chinese art and ceramics. Due to the lack of constant growth and exposure, buyers are often put off from these works.
Tang Sancai Ceramics Preview, Hong Kong Convention and Exhibition Centre, by Poly Auction Hong Kong, 2022.
SH: What is the trend or popularity of Chinese art ceramics in Western countries?
JT: During the eighties and nineties, Chinese works of art and ceramics were at the peak of their exportation and popularity with Western countries under the influence of Orientalism. Specifically in Hong Kong, Hollywood Road was the go-to spot for foreigners to purchase antiques and ceramics.
However, the wave for these works of art diminished when China implanted regulations on importation and exportation in 2018 due to the rocky economic and political spheres in Hong Kong and mainland China.
In recent years, there have been many more many Western sellers. Simultaneously, Chinese buyers purchase those works of art and bring them to China. This act has been favourable as it is seen as a cultural contribution towards their mother country.
SH: How do you think the Chinese Ceramics and Works of Art market is responding to the current economic situation in China? Has the market size shrunk, or has it been unaffected?
JT: The ground-breaking results of the Hotung Jiaoyi sale make it clear that purchasing power still exists from high-income collectors and investors. In terms of the current economic situation, it still has an effect and influence on the market, as it polarised the market. This means the high-income bidder will want to compete and bid on the rare and quality piece.
On the other hand, some lots with a comparatively lower estimate will also attract many bidders. Therefore, it leaves the middle ground works of art in an awkward situation. Moreover, buyers are very conservative in their bidding due to the limited liquidity with Chinese works of art and ceramics. Hence, the market for Chinese works of art and ceramics shrinks comparatively.
SH: Do you have any advice for collecting Chinese ceramics and works of art?
JT: China has an extensive and rich history. This is part and parcel of its extraordinary historical and artistic development. Therefore, one of the critical pieces of advice I would keep in mind is to choose one field and study its history and connoisseurship in detail. This is due to different art and lots having highly diverse backgrounds and progressive artistic histories.
Although this is difficult to achieve, once you understand this field, you will find that you can connect more deeply with most Chinese art. From there, you can adapt your knowledge to other, more specific areas within Chinese art to build an exciting individual collection. Building up your style of the collection is also important; the style you like and which can represent yourself.
Thanks to Joyce Tsoi on behalf of MADE IN BED.
To learn more about Joyce Tsoi, follow her on Instagram: @joycetsoi_antiques and Xiao Hongshu: @JoyceTsoi.
Sally He
Interviews Co-Editor, MADE IN BED