NEW YORK, NY.- Christies
announces that it will hold auctions in Shanghai beginning autumn 2013, having become the first international fine art auction company to be granted a license to operate independently in mainland China.
As the global leader in the art market, this development represents an important milestone in Christies 247 year history. Christies has cultivated long term relationships with the art community in China since becoming the first international auction house to open a representative office in Shanghai in 1994, during which time China has become one of the largest and fastest-growing art markets in the world. The number of clients from mainland China bidding at Christies global auctions has doubled since 2008. This growing client base participates increasingly in Christies auction centers in London, New York, Hong Kong and Paris.
Steven P. Murphy, Chief Executive Officer of Christie's says, This development makes Christies the first international auction house able to directly conduct auctions in China under its own brand, and will offer collectors a more direct access to our global network and expertise. The art market continues to grow at a tremendous rate due to the burgeoning interest in art particularly in Asia and China; now Christies will be able to engage with our clients in Shanghai in the same way that we have done over many years in London, Paris, New York and Hong Kong.