There’s no information from China Poly on the total from their six-day sale cycle in Beijing but The Wall Street Journal reports that the Beijing auction house made $322m over the first four days:
“The best works used to all go to Hong Kong. Now, they’re coming to Beijing, and Poly has a lot to do with that,” says Meg Maggio, owner of Pékin Fine Arts gallery.
Many Chinese buyers say Poly has a cultural advantage over Western houses. “A Chinese collector who doesn’t speak English is more comfortable with Poly,” says Bao Mingshan, a Suzhou-based businessman who bought four works during the modern Chinese painting sale. “When an American-Chinese brings in a Chinese item to a Western auction house, it’s likely a white person inspecting it. They won’t understand Chinese art like the Chinese do.”
From Arms Dealer to Art Dealer (Wall Street Journal)
