Much of the French art that went to Japan in the 1980s and the early 1990s has since left Japan. Often the second Japanese owner of the art was one of the Japanese banks. It was fashionable for the Japanese to buy Western art in the 1908s, the buyers could make money owning the art, and the Japanese banks were willing to lend the money.
There appears to be a strong relationship between prices of real estate in China and the prices of Chinese art, both historic and contemporary.
– Robert Z. Aliber, Charles P. Kindleberger Manias, Panics, and Crashes: A History of Financial Crises