from 99ys May 16, 2011 report
Speaking of firsts.
As reported by 99 Yishu, one can now buy stock in a series of 23 paintings by Zhong Biao. One buys such stock, moreover, not in the entire series, or even an entire canvas, but instead in one square foot of canvas. The total package, comprised of paintings executed between 2007 and 2010, amounts to 3000 square feet.
The goal of such an operation is to give the up-and-coming class of Chinese investors in art an opportunity to partake in the contemporary Chinese art market even though most of them do not have the type of funds elite (and by-and-large non-Chinese) art collectors have.
Zhong Biao is the first contemporary artist to be listed in this way. The reason Zhong Biao was selected, according to Su Yang, spokesperson for the group, has to do with his ability to combine international vision that spans East and West a traditional sensibility expressed in an entirely contemporary idiom.
There is no official word on current value, but “knowledgeable sources” estimate roughly 50,000,000 RMB. This, at the current moment, amounts to 7 million 726 thousand 898 dollars and 38 cents. Give or take.