Baoku of­fers su­per vault

China Daily (Canada) - - SHANGHAI - By YU RAN in Shang­hai

yu­ran@chi­nadaily.com.cn

As one com­po­nent of the Guanfu Baoku pro­ject, the Baoku Trea­sury, China’s largest un­der­ground vault that has 30,000 pri­vate safe boxes, has got­ten a warm wel­come from lo­cal res­i­dents since its of­fi­cial open­ing in early March.

Within the first week, more than 3,200 of the first lot of 10,000 lim­ited safe boxes — priced from $10,000 for 15 years — have been snatched up by cus­tomers rush­ing in from the city and other re­gions of the coun­try.

“We chose the world-class build­ing to con­tain the world’s largest pri­vate safe vault to help lo­cal res­i­dents store their trea­sured col­lec­tions of art­work and ar­ti­facts within the best fa­cil­i­ties,” said Liu Feiguo, founder and CEO of Baoku China, which over­sees the Baoku pro­ject.

The 7,000-square-me­ter fa­cil­ity, which is lo­cated five lev­els be­neath the Shang­hai Tower, is equipped with se­cu­rity sys­tems that are even more so­phis­ti­cated than bank vaults, as well as hi-tech en­vi­ron­men­tal con­trols that en­sure pre­cious art is stored un­der op­ti­mal con­di­tions.

The Shang­hai Tower, which stands at 2,073 feet high, is cur­rently con­sid­ered the tallest build­ing in the coun­try. To­gether with the Jin­mao Tower and the Shang­hai World Fi­nan­cial Cen­ter, the trio of high-rises an­chors the city’s iconic Lu­ji­azui area in Pudong district.

Most of the cus­tomers for the Baoku vault are lo­cal res­i­dents who have art col­lec­tions and are look­ing for se­cure places to store them un­der the best pos­si­ble con­di­tions.

The rental mar­ket for safe boxes has been heat­ing up in the past five years in Shang­hai as many of the safe boxes of­fered by banks are in­ad­e­quate for the kind of art and an­tiques wealth­ier peo­ple are col­lect­ing.

“The yearly cost for rent­ing a safe-de­posit box in a bank starts at around 300 yuan ($50) and they are used mostly by lo­cal res­i­dents to store their valu­ables in more se­cure fa­cil­i­ties than their homes,” said Meng Yan, a bank clerk in Shang­hai.

The pricier Baoku Trea­sury fea­tures high-stan­dard equip­ment spe­cially de­signed to pro­tect those trea­sured col­lec­tions. The pur­chase of Baoku safe boxes also in­cludes free-en­try to the Guanfu Mu­seum and priv­i­leges on cer­tain cul­tural-re­lated ac­tiv­i­ties.

With the Guanfu Mu­seum and Baoku Art Cen­tre, lo­cated on the 37th floor, the pro­ject aims to cre­ate an in­no­va­tive art space of­fer­ing vis­i­tors a com­bi­na­tion of pri­vate col­lec­tions from the Baoku Trea­sury and ex­hi­bi­tions from the Shang­hai Guanfu Mu­seum and Baoku Art Cen­tre.

“The com­bi­na­tion will of­fer more ben­e­fits and pub­lic ser­vice prod­ucts to ev­ery­day peo­ple, not just pro­fes­sional col­lec­tors, in or­der to fur­ther de­velop China’s cul­tural ser­vice sec­tor,” said Ma Weidu, the founder of the Shang­hai Guanfu Mu­seum, which has five ex­hi­bi­tion halls con­tain­ing more than 500 ar­ti­facts such as ce­ram­ics, gold pieces, an­tique fur­ni­ture, Bud­dha stat­ues and tex­tiles.

PRO­VIDED TO CHINA DAILY

The Baoku Trea­sury, China’s largest un­der­ground vault has sold out 3,200 of first batch of 10,000 lim­ited safes within one week af­ter its open­ing on March 6.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.