Sotheby's, Tefaf may hold event in China
Source: Bloomberg News |
March 20, 2013, Wednesday
|
Print Edition
Print Edition
SOTHEBY'S is in talks with Tefaf, the world's biggest art and antiques fair, on holding an event on the Chinese mainland.
"Tefaf Beijing 2014" is planned as a collaboration between the Maastricht, Netherlands-based event and Sotheby's recently-forged joint venture with China's state-owned Beijing GeHua Cultural Development Group, the European Fine Art Fair said yesterday in an e-mailed statement.
Sales of art and antiques in China raised 10.6 billion euros (US$13.7 billion) last year, making it the world's second-biggest market, according to a report published last week by the European Fine Art Foundation. The country's regulations have previously hindered foreign auctioneers from holding events on the mainland, leaving Hong Kong as the center for Western-organized auctions and fairs.
"We feel now is the time to further develop our presence in China, one of the most important art markets," Ben Janssens, chairman of the fair's executive committee, said in the statement.
Sotheby's said in September that it had signed an equity joint venture agreement with the GeHua Group.
The collaboration will allow it to "take advantage of a planned free port project that GeHua is developing within the Tianzhu Free Trade Zone in Beijing, which will serve as a tax-advantaged storage location and provide a platform for various activities," Sotheby's said.
"Tefaf Beijing 2014" is planned as a collaboration between the Maastricht, Netherlands-based event and Sotheby's recently-forged joint venture with China's state-owned Beijing GeHua Cultural Development Group, the European Fine Art Fair said yesterday in an e-mailed statement.
Sales of art and antiques in China raised 10.6 billion euros (US$13.7 billion) last year, making it the world's second-biggest market, according to a report published last week by the European Fine Art Foundation. The country's regulations have previously hindered foreign auctioneers from holding events on the mainland, leaving Hong Kong as the center for Western-organized auctions and fairs.
"We feel now is the time to further develop our presence in China, one of the most important art markets," Ben Janssens, chairman of the fair's executive committee, said in the statement.
Sotheby's said in September that it had signed an equity joint venture agreement with the GeHua Group.
The collaboration will allow it to "take advantage of a planned free port project that GeHua is developing within the Tianzhu Free Trade Zone in Beijing, which will serve as a tax-advantaged storage location and provide a platform for various activities," Sotheby's said.
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