Artwork stocks soared 17 times in 60 days

Listed on the first day of gains 100%, in just two months the price has risen 17 times, the market value of broken billion, "artwork stocks" recently brought the market crazy, enough to eclipse any kind of investment. For a time, all kinds of news rumors and the voice of doubts spread like wildfire. “Frying like frying stocks” has become a must-have question in the aftermath of the game.

The promoter of the art stock market storm is the Tianjin Cultural Exchange, which is located in a high-rise office building in the downtown area of ​​Tianjin. There is no trading hall here, and few people come and go, but it has attracted 2.3 billion in just 2 months. Hot money ambush one of them crazy speculation, this figure is still a conservative estimate.

The customer service hotline at the Tianjin Stock Exchange continued to be busy.

The market value of the two "bull shares" breaks 17 billion

Calling it an artwork stock is actually not appropriate. To be precise, it should be called a share of artwork. After splitting the cultural and artistic works into equal parts, they are publicly traded through the exchange's electronic trading platform. It is called "stock" because his trading method is similar to that of the stock market. After an investor opens an account in the Tianjin Stock Exchange, he can download a client to buy and sell, after the process is transferred in the primary market. Secondary market trading until exit. The difference is that the share price of the art share transaction adopts the T+0 model, which can be traded on the same day, and the daily market's 15% increase or decrease limit is also greater than 10% of the stock market.

This means that hundreds of thousands of famous artists even tens of millions of dollars are no longer the richest patents.

There is more room for income than buying stocks, which is lower than the funding threshold for collecting works of art. This kind of investment method will bloom in a short period of time.

The two paintings of the Jin artist Bai Gengyan's two paintings, "The Yellow River Rumor" and "Yan Saiqiu," are the first listed artworks of the Tianjin Stock Exchange. January 12 open subscription to the public. ** Evaluation by the Expert Evaluation Committee of the Ministry of Chemical Industry, with an estimated value of RMB 6 million and RMB 5 million, respectively, divided into 6 million shares and 5 million shares, that is, RMB 1 each, and investors can purchase 1000 copies. According to statistics, the total amount of purchase funds for the two paintings exceeds 20 million yuan, and the winning rate exceeds 40%. In just two months, their trading prices have risen to about 17 yuan, and the return on net investment is close to 17 times.

In view of the popular market of the first batch of listed artworks, the Tianjin Stock Exchange launched the second batch of listed artworks on March 11. Including Bai Gengyan's 7 paintings and a 4.34 carat pink diamond, the 8 art shares on the first day of the listing both closed at 2.16 yuan, with daily limit.

These "artwork stocks" are very extreme, and they are either the daily limit or the daily limit, which is one of the world's craziest investments.

It is understood that at present, there are already cultural property rights trading institutions in Shenzhen, Shanghai, and Tianjin, which have introduced “artwork stocks” to investors. In July last year, the Shenzhen Cultural Property Exchange launched the nation’s first “Yang Peijiang Art Assets Package”, but due to the high funding threshold, it has not been popularized. The concept of "artwork stocks" really spreads across the country, but it still benefits from the eyeball effect brought about by the sharp rise in the paintings listed on the Tianjin Stock Exchange. Different from the securitization transaction models in Tianjin and Shenzhen, the Shanghai Stock Exchange adopts the property rights trading model. Its characteristic is that it conducts the listed transaction for the share of property rights, and has not been split and is only open for club members.

Bubble fierce crash risk undercurrent

After three consecutive days of daily limit, the exchange recently announced that the listed art works “Yellow River Roar” and “Yan Saiqiu” had three consecutive daily limits on March 11th, March 14th and March 15th. The temporary rules of the Exchange are deemed to be abnormal fluctuations. According to regulations, the two listed arts were temporarily suspended from 9:15 on March 16 to 10:30 on March 16.

Behind the skyrocketing market is the continuous accumulation of investment risks.

Mr. Guan, who has been investing in art for many years, said, “This kind of madness is absolutely unreasonable, and it is entirely a fund-driven market. In the future, this bubble will definitely burst and the possibility of a collapse is very high. And now this share of the art is The investment is booming, and the investment in the property market is limited, and the stock market is oscillating. The majority of influxes in this area are amateurs. Their valuation of paintings is not rational."

And Hong Xi, a senior advisor to the private banking department of Minsheng Bank [5.17 0.19%], expressed his concern: “Artwork share investment is similar to warrants. If you invest in stocks, you will earn dividends. If you invest in real estate, you will have rent income and hold The 'share' of a painting is a big problem as to how to get a return on investment. In addition, art is a visual culture product that is a matter of opinion. It has a high elasticity and it is difficult to accurately estimate it, so it is definitely not suitable for ordinary people. Investors."

Indeed, there is no corporate entity in the share of artworks, let alone growth, and the current source of investment income is the access of other investors.

But who will take this last shot?

It is understood that currently listed artworks have a “market value” of more than 10 million yuan. In 2010, when Zhang Daqian created Zhang Daqian’s “Taiyi Guanquan Map” in 1947, he eventually captured 40.32 million yuan; and Qi Baishi’s works "Four Flowers and Four Screens", under the auspices of many collectors, eventually raised the price of 47.6 million yuan.

The late Mr. Bai Gengyan could not have thought of anything in his life before his death. His "value" will go hand in hand with Xu Beihong, Zhang Daqian and other super artists in the history of art. And the author's work in the auction market in the past, only a few hundred to 10 million. It is not clear whether it will eventually be accepted by the market. Extremely deviate from the value of the painting itself, making its share trading face great risks.

In addition, the total market value of artworks listed on the Tianjin Stock Exchange is no more than tens of millions. The plates are small and it is easy to be controlled by funds.

Industry insiders frankly stated: “It is only a matter of time before the incident occurs. It is only a matter of time. This reminds me of the previous Tulip event in the Netherlands. The number of people rushed to bankrupt because of irrational pursuits.”

Regarding how the Tianjin Stock Exchange should be supervised, the Tianjin Financial Office declined an interview and believed that it is not appropriate to speculate at this stage.

On March 9, the Tianjin Stock Exchange will open an entry threshold, which will be raised from 50,000 yuan to 500,000 yuan.

China Merchants Bank has become the biggest winner and the number of customers has soared

On the one hand, investors dance on wire ropes, and on the other, two companies behind the company sit at a leisurely bonus.

It is understood that the Tianjin Stock Exchange two-way transaction as a transaction commission as a transaction commission, in the first batch of only two copies of the work of art, the day's volume will reach up to 90 million yuan, commission nearly 20 million.

Another thing I must mention is China Merchants Bank [13.41 -0.74%].

The popularity of “artwork stocks” pushed the Tianjin Exchange to the cusp of the storm. However, few people have noticed that there is a key role of China Merchants Bank behind this storm.

Not all investors can participate in the investment in art stocks. At present, China Merchants Bank is the only cooperative bank of the Tianjin Stock Exchange. Only the holders of China Merchants Bank Sunflower Card or a higher-level bank card can apply for opening an account with the Tianjin Stock Exchange. In order to open a sunflower flower card, investors are required to have 500,000 yuan in production at China Merchants Bank, including deposits, wealth management products, stock accounts, insurance products and so on.

In addition, investors also have to open China Merchants Bank's Personal Banking Professional Edition.

This threshold has enabled China Merchants Bank to increase the number of accounts in the short term. The relevant person in charge of a joint-stock bank bluntly stated that China Merchants Bank is still very early in this field. This is very helpful for the expansion of new customers and increasing the balance of deposits. big.

"The Merchants Bank sells not gold, it sells iron shovels that dig gold. As long as he does not make corresponding recommendations to customers, even if this investment in the future has a huge problem, there is no responsibility."

Smart, such as China Merchants Bank, the risk factor of this investment method, it must be considered, according to the reporter learned that, China Merchants Bank outlets in the consultation of staff, most of them repeatedly prompted the risk.

However, under the influence of the mad market, many investors are no longer considering this issue, setting up cards, opening accounts, and then trading. China Merchants Bank is a big winner who does not take risks.

People in the industry have speculated that the work of art share trading is actually driven by China Merchants Bank. The staff of the China Merchants Bank stated that China Merchants Bank is only responsible for matters such as capital inflows and outflows. It is not responsible for explaining the specific advantages and disadvantages of the product to customers, nor does the financial manager specifically take responsibility for this. In fact, the customer must ensure that there are a minimum of 500,000 funds in the investment account of the China Merchants Bank sunflower account, and invest in artwork stocks. A special account must be set up outside of this 500,000 yuan.

It is understood that as the fund management platform of the SSE, China Merchants Bank has signed a cooperation agreement with the payment intermediary business to provide funds remittance services for the exchanges and customers on the platform provided by the exchanges, as well as payment cooperation agreement agreement Money Management.

Client transaction funds are deposited under the payment intermediary summary account directly managed by China Merchants Bank, and closed-end management can effectively prevent the risk of misappropriation of customer transaction funds; China Merchants Bank confirms the identity of the customer in the transaction process and the customer’s payment by paying an intermediary-specific digital certificate. Directives to ensure that bank funds are collected and paid on the basis of the client’s true intentions; China Merchants Bank’s transaction on each exchange is checked at the end of the day against the customer’s payment instructions. After the inspection is completed and correct, net payments due from the transaction are netted. The amount of a transfer.

“Bank management funds and exchange management transactions” are the principles of the intermediary business of the commodity exchanges designed and developed by China Merchants Bank, which also opened the door to the nation’s payment and transfer of intermediary funds. At present, the intermediary business partner of the China Merchants Bank Commodity Exchange is only the Tianjin Stock Exchange, and there is no news that it can participate in the exchange's investment through other bank accounts.

More and more banks have discovered this golden zone and are eager to learn. According to industry sources, some banks have begun to plan cooperation with the Wenzhou exchanges and become the only designated bank for trading accounts.

Bankers are always thinking about how to get a slice of the various investment fields and bear the minimum risk.

Crazy continues...