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.