- Author: D Unknown
- Posted: November 23, 2013
- Category: D Unknown Magazine
A Culture Of Bidding: Forging An Art Market In China
A Culture of Bidding: Forging an Art Market in China
When the hammer came down at an evening auction during China Guardianâs spring sale in May 2011, âEagle Standing on a Pine Tree,â a 1946 ink painting by Qi Baishi, one of Chinaâs 20th-century masters, had drawn a startling price: $65.4 million. No Chinese painting had ever fetched so much at auction, and, by the end of the year, the sale appeared to have global implications, helping China surpass the United States as the worldâs biggest art and auction market.