The collection includes 1,864 paintings and calligraphy works and 304 other art objects and implements. The Central Deposit Insurance Corp. has commissioned the Yu Jen International Art and Antiques Co. Ltd. to auction off the art objects, while the decision to have the National Palace Museum purchase all the calligraphy and paintings has given rise to controversy.
Some in the business community have questioned why the government, in deciding to auction off the art objects, did not decide to have all the items, including the paintings and calligraphy, sold in this manner. They also raised questions about the staggering price tag of NT$1 billion (US$31.16 million) for the paintings and calligraphy, asking whether appraisal standards were used in arriving at the figure.
Chief Curator Ho Chuang-hsin in the museum’s Department of Paintings and Calligraphy denied reports that the total price tag for the items is NT$1 billion but did not reveal the actual amount to be paid. Noting that the case is currently in the “purchasing stage” and that regulations prevent him from giving details on the figures involved, Ho said the museum would announce the amount to the public as soon as the process is completed.
The paintings and calligraphy that the museum plans to purchase from Tsai’s collection are mainly works from the 19th and 20th centuries. They include creations by noted art masters Wu Chang-shuo (1844-1923), Qi Bai-shi (1864-1957), Huang Bin-hong (1865-1955) and Lin Feng-mian (1900-1990), to name a few.
Ho said the addition of these art works would help enrich the museum’s collection, which is relatively deficient in paintings and calligraphy pieces from this time period.
“The museum’s collection is made up mainly of works from before the mid-19th century. Most of the modern calligraphy and paintings in the collection have been donated or purchased, and they currently total just over 600 pieces,” he explained.
The CDIC’s announcement that 300 art items from Tsai’s collection held by Chinfon Commercial Bank would be auctioned off has led to heated discussion in the market. Many outside observers have expressed concern about priceless national treasures potentially ending up in the hands of private buyers.
In response, Vice Premier Sean C. Chen, who formerly served as Financial Supervisory Commission minister and head of the Financial Restructuring Fund, said, “Not all art curios are necessarily national treasures.” The process of dealing with the art objects in Tsai’s collection has been “extremely cautious,” he added.
Chen explained that from the start of the process, detailed planning and price appraisals were carried out for the items in the collection. For the sake of careful examination, experts from the National Palace Museum and the National Museum of History were invited to look over the artworks, he said.
First, the experts selected items from the collection for preservation, after which the CDIC commissioned an appraisal company to examine the remaining items. The company then suggested further items of great value from the collection worthy of preservation by the government, and the FRF passed a resolution to retain these items. Only then was it finally decided that the remaining 300-plus art objects should be put up for public auction, Chen said. (SB)