What are good buying opportunities at present?

AVANT-GARDE ARTIST: Chinese artist Wang Qingsong sits in a shop window of Selfridges on Oxford Street in London. The artist has created an installation, named Follow Me, taking up the shop's entire storefront (CFP)

Some of the "buying opportunities" right now include works by Ai Weiwei (sculpture, photographs), Wang Qingsong (photographs), Hai Bo (photographs), Wang Guangyi (prints and paintings), Zhang Dali (photographs), Zhang Huan (early photos), Qiu Zhijie (early photos) and Zhuang Hui (early photographs). Other artists include Zeng Fanzhi, Yu Minjun and Fang Lijun—all of these artists are expensive. Prices will revert to their 2007 highs and all will eventually be surpassed.

What kinds of Chinese art are popular in the United States now? Why?

I believe that the first generation of contemporary Chinese artists is still the most popular in the United States right now. Artists such as Ai Weiwei, Xu Bing, Gu Wenda, Hai Bo, Hong Hao, Sui Jianguo, Qiu Zhijie, and Rong Rong, among others, are historically significant and will maintain value and importance in global contemporary art's canon.

Who buys Chinese art in the United States?

I think American buyers of contemporary Chinese art are those who have been collecting contemporary art and see the beauty, significance, and power of the Chinese artist and his/her voice in the art world today. People collect for many reasons, but financial and psychological aspects of collecting always play an important part.

What is your advice to potential buyers on how to judge and what to buy?

In terms of building a good foundation of contemporary Chinese art, I suggest novice collectors follow the first generation of artists I mentioned above. AW Asia has published a book that addresses significant knowledge in this field, Contemporary Chinese Art—Seven Things You Should Know, written by Melissa Chiu, Director of the Asia Society in New York. This publication is also available in Chinese.

My advice to new collectors is to follow your heart and select works that you will be able to live with for a long time. That has always led me toward the "right" art. Quality is also important. As in the West, there are tens of thousands of artists producing all types of artwork in China. Quality varies widely. It is important to pick artists who will have staying power, and who have a solid record in terms of historical recognition of their art, museum exhibitions and curatorial interaction.

In every country, the finest work by top artists is expensive and sought after, and it holds its value. In this, China is no exception. There are many levels of artists and art, and it's essential to know the difference between art business and art history.

(Reporting from New York)