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Article: China: the final (auction) frontier.(Christie's International PLC teamed up with Forever)(Brief Article)
- Article from:
- Art in America
- Article date:
- December 1, 2005
CopyrightCOPYRIGHT 2005 Brant Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In order to capitalize on the booming art market in China, Christie's auction house recently signed an agreement to begin holding auctions in Beijing. Because of government restrictions on foreign businesses holding independent auctions, the firm has teamed up with a new local auction house known as Forever, though Christie's will provide the expertise, license its name and oversee the auction process. The first sale of 450 pieces of modern and contemporary Chinese art, slated to begin on Nov. 3, after this issue went to press, was expected to bring $10 million.
Both Sotheby's and Christie's opened offices in 1994 in Shanghai to scout property ...