SHANGHAI--(BUSINESS WIRE)--Christie’s announces that it will hold auctions in Shanghai beginning autumn 2013, having become the first international fine art auction company to be granted a license to operate independently in mainland China.
As the global leader in the art market, this development represents an important milestone in Christie’s 247 year history. Christie’s has cultivated long term relationships with the art community in China since becoming the first international auction house to open a representative office in Shanghai in 1994, during which time China has become one of the largest and fastest-growing art markets in the world. The number of clients from mainland China bidding at Christie’s global auctions has doubled since 2008. This growing client base participates increasingly in Christie’s auction centers in London, New York, Hong Kong and Paris.
Steven P. Murphy, Chief Executive Officer of Christie's says, “This development makes Christie’s the first international auction house able to directly conduct auctions in China under its own brand, and will offer collectors a more direct access to our global network and expertise. The art market continues to grow at a tremendous rate due to the burgeoning interest in art particularly in Asia and China; now Christie’s will be able to engage with our clients in Shanghai in the same way that we have done over many years in London, Paris, New York and Hong Kong.”
Further details of the auction will be announced at a later date.
Notes to editors:
Christie’s International received approval from Shanghai municipality to establish a wholly owned subsidiary auction company. This company [Christie's (Shanghai) Auction Company Limited] has a comprehensive auction license, and can also offer regular exhibitions, art import and export, art advisory, training and other services.
About Christie’s
Christie’s is a name and place that speaks of extraordinary art, unparalleled service and expertise, as well as international glamour. Founded in 1766 by James Christie, the company has since provided a celebrated showcase for the unique and the beautiful. Christie’s offers over 450 auctions annually in over 80 categories, including all areas of fine and decorative arts, jewellery, photographs, collectibles, wine, and more. Prices range from $200 to over $100 million. Christie's also has a long and successful history conducting private sales for its clients in all categories, with emphasis on Post-War and Contemporary, Impressionist and Modern, Old Masters and Jewellery.
Christie’s has a global presence with 53 offices in 32 countries and 10 salerooms around the world including in London, New York, Paris, Geneva, Milan, Amsterdam, Dubai, Zürich, and Hong Kong. More recently, Christie’s has led the market with expanded initiatives in growth markets such as Russia, China, India and the United Arab Emirates, with successful sales and exhibitions in Beijing, Mumbai and Dubai.
*Estimates do not include buyer’s premium. Sales totals are hammer price plus buyer’s premium and do not reflect costs, financing fees or application of buyer’s or seller’s credits.
About Christie’s China
Christie’s has long been a pioneer in the Asian art market. Christie’s held its first auction in Hong Kong in 1986 and was the first international auction house to establish a representative office in China, opening in Shanghai in 1994 followed by Beijing in 1996. In 2005, Christie's became the first international auction company to have auctions conducted in China under a Christie's trademark licensing agreement with Forever International Auction Company Limited.
Visit Christie’s Website at www.christies.com
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