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Native Chauvinism v. Foreign Transparency in China’s Art Market

September 24, 2013 by Marion Maneker

Zhao Xu, Steven Murphy
Zhao Xu, Steven Murphy

Christie’s auction in Shanghai is bringing out the talking points in a press battle between Christie’s CEO Steven Murphy and Poly Auction’s Zhao Xu:

Zhao Xu, executive director of Poly, owned by Poly Group, a defence contractor originally formed by the People’s Liberation Army, recently said he doubted the ability of foreign houses to compete in the mainland art market.

“Chinese still prefer a big Chinese auction house run by Chinese people to help them sell their art works, since . . . Chinese people know better [about Chinese art],” he told the FT.

Mr Murphy said Christie’s had already been successful in selling Chinese art in Hong Kong, adding that “transparency and authentication” were also advantages that the long-established foreign houses might have over a local auction house.

Christie’s confident over first China mainland auction (Financial Times)

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Filed Under: Emerging Markets Tagged With: China, Christie's

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