China Art Auction Market Growing
Published March 3rd, 2008
China, with 23.69 billion yuan ($3.16 billion) of proceeds in 2007, has deposed France as the world’s third art auction market, according to a report issued Monday by Arton, China’s largest online art publishing house.
The report, based on the statistics of the world’s 119 auction houses, shows that the turnover of China artwork rose by 29.10 percent on the 2006 figure, with a large number of ancient Chinese paintings, porcelain, and contemporary paintings hitting the $10 million auction price last year.
About 226 Chinese art pieces, each with a base price more than 10 million yuan, were auctioned globally in 2007, double that of the previous year, says the report.
Arton’s report has been corroborated by Artprice, a US-based art auction website, in an article published last month.
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