Chinese Auction Houses Burst onto Global Scene

Bullet Shih Feb, 2012 0
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The two largest emerging economies, China and India, generally have two distinct styles when it comes to growth.  India methodically goes for slow steady growth while China likes to do it with a bang as witnessed by the following video of a 15 story hotel being built in two days,

The same thing can be said for the respective auction houses as we reported that the Indian online auction house, saffronart has striven for slow and steady growth while the BBC has reported that Beijing Poly, the largest Chinese auction house and 3rd largest in the world did not even exist six years ago while the leading two, Christie’s and Sotheby’s have been in business since the mid 18th Century.  The 2011 top ten auction Houses by sales are-

Top auction houses by 2010 sales

  • Christie’s 3.4bn euros (UK)
  • Sotheby’s 3.3bn euros (US)
  • Beijing Poly 1.1bn euros (China)
  • China Guardian 846m euros (China)
  • Heritage Auction Galleries 518m euros (US)
  • Bonhams 422m euros (UK)

Source: Conseil des Ventes

 

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