Archive for “China Guardian Auction”

2,500,000,000 CNY for China Guardian’s first half of 2012

Beijing, 3 August 2012. Art Media Agency (AMA).

Although China Guardian Auction does not usually make its results public, the Chinese auction house has announced a turnover exceeding 2,500,000,000 CNY (over €320m) for the first half of 2012 .

The announcement is also an opportunity to release the results of the quarterly auction in June, which brought in 210m CNY (€27m).
The event was organised over three days and divided into three auctions: “Classical paintings and calligraphy”, followed by “Porcelain, furniture and works of art”, and finally “Chinese oil painting”.

China Guardian also re-announced its future launch of the first auctions to be organised in Hong Kong, set for October 2012.

As property of the Chinese government, China Guardian Auction is the country’s largest auction house and the fourth largest in the world. Mainly operating from Beijing, it has recently opened new locations, notably in the United States.

China Guardian moves to New York

Beijing, 30 September 2011, Art Media Agency (AMA).

The Art Newspaper revealed at the end of August that auction house China Guardian Auction was planning to move to London. In the October edition, the newspaper announces that the same auction house will also open an office in New York.

Beijing, New York and London are the three largest cities in the auction market in the world. By installing spaces in England and the US, it is evident that China Guardian Auction, ranked fourth worldwide, is truly in competition with Christie’s and Sotheby’s – whose sales figures are triple those of their Chinese rival.

For the moment, the Western branches are confined to simple representative offices ,which restricts China Guardian from organising auctions in New York or London. However, their offices will allow them to extract merchandise from these large cities to then resell in Beijing and vice versa. This advantage will in turn gain the trust of American and European buyers.