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First international art auction for mainland China - FRANCE 24

AFP - For the first time in mainland China's history, a work of art went under the hammer Thursday from an international fine-art auction house, following Sotheby's signing of a joint venture with a state-owned company.

The piece, a sculpture by the Chinese artist Wang Huaiqing, was sold for 1.4 million yuan ($222,000, 173,000 euros).

Sotheby's announced last week it was signing the deal with Beijing GeHua Art Company, in a move that gives it a foothold in China -- where foreign auction houses have been prevented by law from operating.

by In Wales (inwales aaat eurotrib.com) on Thu Sep 27th, 2012 at 04:30:06 PM EST
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