Malaysia’s The Star published a China Daily story that suggests the market for European art is moving into Mainland China as local auction houses have begun to hold their own sales of European art:
According to Nanfang Daily, several local auction houses in Guangdong are introducing Western artwork at their sales. For example, Holly’s Auctions has launched a special section of works on paper from European art masters during its upcoming autumn sale, the first of its kind nationwide. The section will present water soluble block prints, copperplate etchings and sketches from European art masters for auction.
According to Nanfang Daily, Wang Yefu, the executive director of Holly’s Auctions, said […] “Internationalisation can widen art dealer’s choices. For example, if he bought a Rodin sculpture, later he can trade it on the international auction market in New York, France or London.”
Rich Chinese shaking up art market – Regional (The Star Online)