As interest in China’s early past grows, artifacts from the Shang Dynasty have become increasingly coveted commodities at international auction markets. The sale of these artifacts at auction represents a critical intersection of cultural heritage, economics, and archaeological ethics. Using data collected from the two largest international auction houses (Sotheby's and Christie's), this study investigates the factors influencing sale prices of artifacts associated with the Shang Dynasty, as well as the implications of these factors for archaeological research.
One of the main factors influencing sale prices is the characteristics of the artifact for sale, such as its age, provenance, type, material and appearance, including any designs, writing, or motifs. These findings reveal broader trends about public interest in the distant past, including how archaeological research shapes what artifacts are most sought-after. One key finding is the significant correlation between the presence of associated publications with an artifact and higher sale prices, underscoring the impact of archaeologists on the auction value of Shang Dynasty artifacts.
This research holds serious implications for archaeology in the region. Auctions provide critical context for researchers to understand how the past is perceived outside of a museum or academic setting. Furthermore, understanding the factors that drive this demand for Shang Dynasty artifacts at legitimate auction houses can help address issues relating to looting and illegal antiquity trade. Most importantly, archaeologists can gain a greater awareness of how their work impacts the modern legacy of these ancient artifacts put up for auction today.