Let's focus our attention on the auction of ancient Chinese scripts and books. Since the autumn of 2009, there has been a renewed passion about ancient scripts and books among collectors, resulting in soaring prices in the market. Now we go to an auction in Nanjing and get a glimpse at the frenzy.

A twelve-volume compilation from the Ming Dynasty, some 600 years ago, was auctioned for 1.9 million yuan in Nanjing. But the estimated price had been only 600 thousand yuan in 2009.

Some 440 scripts and books appeared at the auction. And most of the lots were sold far above their pre-auction estimated prices.

Fu Guojun, Auction House Manager, said, "Most of the buyers are investors. Those who really love and study ancient scripts and books can no longer afford them. Scripts and books were much cheaper one or two years ago. But their prices have surged dramatically."

Moreover, compared to paintings and porcelain, it costs more to make fake books. Therefore, investors feel less concerned about authenticity.

Zhang Zongxiang, Auction House Manager, said, "It is less likely for a fraud to want to forge ancient scripts. Because it is very hard for him to find the right paper and ink."

Insiders also said that the limited number of the category currently circulating in market is also one of the driving factors for the high prices.

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