Bloomberg’s Scott Reyburn got an early release:
“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 today in an e-mailed release. […] “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 Netherlands-based fair’s Executive Committee, said in the release. “Tefaf is committed to contributing to the further growth of the market for European art in China.”
Sotheby’s is taking advantage of GeHua’s freeport in Beijing and the fair is likely to be another way to encourage wealthy Chinese to buy Western art as an investment but not fully patriate it to China.