China's Top Auction Houses See Sales Down by Half

  • February 04, 2013 17:15

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Qi Bashi's work sold for a record $65 million at Guardian Auctions in Beijing.

China’s two leading auction houses—Poly Auction and China Guardian— experienced sales totals plummet by more than a half during 2012. Sotheby’s and Christie’s outlets in Hong Kong also saw lesser sales, depleting $2.4 billion from the country’s art market, considered by some experts to be the world’s largest at the beginning of 2012.

 

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Tags: Asian art

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