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Article: CHINA ART MARKET STILL STRONG, AUCTION HOUSES OPTIMISTIC.
- Article from:
- AsiaPulse News
- Article date:
- March 31, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. 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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BEIJING, March 31 Asia Pulse - On opening day of the Early Spring Auction held by the Beijing Poly International Auction Co. Ltd., more than 400 buyers crowded into the salesroom. Late comers had to wait for extra seats. Even with the current global financial crisis, art lovers couldn't stay away.
Attendance is just one reason Chinese auction houses remain optimistic about the industry, which has been changing the way it does business to stay in business.
"This year we chose art work very carefully. We accepted fewer works priced as high as 10 million yuan (US$1.5 million), but it doesn't mean costly works cannot be sold. People will buy as long as they ...