北京的古玩市场

Antiques markets in Beijing are regularly full of people searching for their next treasure.

The markets, including the famous Panjiayuan antiques market - also known as Beijing Antique City - located in southeastern Beijing, are popular with young and old alike. Tourists and curious locals mix with antiques dealers and producers looking for period props for TV dramas and plays.

The range of items on display is varied: vases, paintings, furniture, coins, jewelry and assorted other artifacts crowd the outdoor stalls as well as the more refined indoor shops.

At the top end, certain auction houses have seen a number of exorbitant prices in recent years. But without a team of auction house experts and instruments designed to spot fakes, business back in the markets can be much more hit-and-miss.

Antiques expert Kang Laiyou, who has appeared on antiques shows on Chinese television, says the chances of finding genuine antiques are small.

"In the past, you could buy many genuine antiques at Panjiayuan antiques market. In the 1980s, about 70% to 80% of the antiques at Panjiayuan were real. Today, the chances of buying something real have fallen by at least 70%."

As business has boomed - and the prices have risen - an increasing number of cheaply-made, mass-produced fakes have flooded the market, making business that much tougher for the dealers.

China's manufacturing industry is well known for its ability to imitate; churning out fakes which are indistinguishable from the real thing. This has become an art in itself and spotting the fakes can be hard for even the most experienced observer.

Dealer Wang Jinhua describes the vast scale of the industry today, estimating that the capital alone has close to 100 auction houses, before the markets are even factored in.

But he offers a word of caution to beginners looking to start their collection, saying that unless dealers are convinced that prospective customers know what they're talking about, they often will not even show off their best items.

"If you want to buy good stuff, you should know the field very well, you should be very knowledgeable about antiques, or be an expert. If you are an expert, you can find genuine things in this market, whether it's worth ten thousand, a hundred thousand, millions or even tens of millions. But that's only for experts. If you are not an expert, some sellers won't even let you look at their items."

Here in Panjiayuan, even the fragments can be worth a significant amount, but the real thing is strictly for multi-millionaires.

For CRI, I am Li Dong.