Sotheby’s breaks into China with first foreign auction house joint venture

Sotheby’s has announced that they have signed a ten-year agreement with Beijing GeHua Art Company. The partnership makes them the only foreign auction house currently able to operate in mainland China.

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What is ahead for contemporary Asian art, 2012 and beyond? Part I

Art Radar is kicking off 2012 with a series of four posts that outline new trends in the Asian art world. How will dealers adapt as the world experiments with online market places?

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Asian art market trends: 5 top posts from 2010 to 2011

This post in the ‘List’ series focuses on the latest trends in the contemporary Asian art market and summarises the 5 top posts the the Art Radar archive over the last year.

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Is Hong Kong’s current art climate failing local artists? Wall Street Journal discusses

HONG KONG ART SCENE NONPROFIT SECTOR As Hong Kong’s commercial sector continues to grow in leaps and bounds, has the city’s independent art scene been forgotten? A critical report from the Wall Street Journal marks 2010 as a year in … Continue reading

Contemporary galleries face intense competition, must re-think game plan

As pointed out in a recent The Art Newspaper article, competition has never been fiercer for international contemporary galleries so today the top ones are focussing on building their global brand. As demand for contemporary artwork grows, the size and number of contemporary art galleries that sell it increases.

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Chinese auction houses climb worldwide revenue rankings – Artprice

Apparently oblivious to the recession, the Chinese art market posted its best-ever six-month auction earnings in the second half of 2009. Reflecting the rising importance of the Middle Kingdom in the world economy, China’s auction houses are claiming more and more spots in the world’s top 10 by revenue. Three of them appear in the Artprice Contemporary Art Market 2009/2010 Annual Report rankings.

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Sotheby's still willing to lend against art – New York Magazine

ART AS COLLATERAL  One art-world business is booming: collectors looking to borrow against works they own, especially before the fall sales threaten to lower values. “We’ve been contacted by lots of people who are feeling some sort of margin call,” … Continue reading