Here is an interesting update on the Chinese auction market and how the major world players are dealing with it! Christies has made a really great and important move in this in my opinion by arranging with the Chinese government to operate independently. To US citizens this might seem like an odd comment. However, in China, generally the rule is you must enter into a joint venture to operate a business in China either with the government itself or with a private entity! Congratulations to Christies, I think this is a really important move and also will bring much more credibility to the Chinese auction market, which has been plagued by questionable practices frequently so far – even with their own citizens. Enjoy the read. http://www.artmarketblog.com/2013/04/09/christies-claims-first-independent-art-auction-in-mainland-china-artmarketblog-com/
The image below come directly from this article.
Sincerely, Greg C. Brown, MS, ISA. Appraisals, Brokering, Buying and Consulting, Fine Art and Antiques, Specializing in Asian Art and Antiques, Fine Art Prints, Fossils, and other Fine Personal Property.