Shanghai fine art auction makes over $14M

Global Business

China’s demand for fine art is one of world’s fastest growing. That’s why several works from prominent artists are finding new homes in the Chinese mainland, including the world’s leading art dealer Christie’s. The auction house held its spring auction this weekend in Shanghai. More than 80 works of art fetched over $14 million. CCTV’S Lin Nan filed this report from Shanghai.

Shanghai fine art auction makes over $14M

Shanghai fine art auction makes over $14M

China's demand for fine art is one of world's fastest growing. That's why several works from prominent artists are finding new homes in the Chinese mainland, including the world's leading art dealer Christie's. The auction house held its spring auction this weekend in Shanghai. More than 80 works of art fetched over $14 million.

Highlights: 

  • As the Chinese art market has been growing in the past decade, the Chinese collectors are getting more sophisticated. Christie’s also promoting young Asian artists this time, presenting a comprehensive view of Western and Eastern art.
  • As a foreign auction house, Christie’s is barred from trading in the cultural relics in Chinese mainland. However, it is bringing three artworks from old masters to New York to be bid on this June as a preview for Chinese clients.
  • Christie’s has held a series of lectures and dialogues in Beijing, Shanghai and Hangzhou for collectors and artists in an effort to meet the growing appetite for art from the Chinese market