A year of reassessing

Dong, of Beijing Council International Auction Company, says the culture environment should be more tolerant. It's not fair to criticize a collector only because of his expensive purchase of masterpieces.

"We should encourage more of our collectors to buy things overseas. They have set up their own collection systems instead of buying randomly. They have started to take on an international vision," Dong says.

To woo back Chinese collectors who have been buying overseas, domestic auction houses have actively diversified their artworks.

This year, the number of special auctions devoted to a particular category has increased sharply, such as hardwood furniture from the Ming Dynasty and antique clothes of the Ming and Qing dynasties. The auction night of China's antique bronzeware by Xiling Yinshe Auction Company in Hangzhou, capital of Zhejiang province, was among the first of its kind in China. The antique bronzes were sold out on Saturday.

In the future, presidents of major auction houses say, they plan to invest in the online auction platform. Zhao Xu, president of China Guardian, says Ma Yun, founder of China's leading e-commerce company Alibaba, has promised to invest more in the cooperation with China Guardian.

"This year is a little bit tough, but with the strong support from our government and from private businessmen, we're confident of next year's art market," Zhao says.