UK Auctioneers In £8 Million Bid To Woo Chinese Buyers Art and antiques worth £8 million, consigned from the West by a consortium of UK auctioneers, will be offered in an historic first sale in China to be conducted by a Mainland China auction house.
News-Antique.com - Mar 22,2013 - Fine art, antiques and collectibles worth £8 million, consigned from the West by a consortium of UK auctioneers, are currently on a container ship on the high seas on their way to an historic first sale in China to be conducted by a Mainland China auction house. The sale, which will be conducted in the Xiamen Free Port in Fujian Province, is on Sunday April 21.
The sale is a ground-breaking initiative by the recently-formed Association of Accredited Auctioneers (Triple-A). The association comprises 21 of the leading independent auctioneers from around the UK who have pooled their resources to promote this quintessentially English industry in China. The sale will be conducted by the Chinese auctioneer Huachen Auctions Co. Ltd and will be promoted by EpaiLive Auction Co. Ltd, the only on-line live bidding portal of its kind in China. EpaiLive will promote the event directly to more than 100,000 buyers with a registered interest in “European taste” and the printed catalogues, translated into Chinese will also be published online. The sale will be conducted in RMB, the local currency.
Offering Chinese buyers the opportunity to examine the sale items is an important aspect of the venture and the pre-sale viewing of the auction highlights is being launched in Beijing on April 12 at the British Ambassador’s residence.
As has previously been reported, Triple-A have already enrolled in an escrow and foreign exchange licensing system – organised by, but operated independently of, EpaiLive – that ensures payments made by successful bidders and can be transmitted into Sterling without delay.
Triple-A’s chairman, Chris Ewbank, said: “Our members are participating in this sale specifically to introduce a much broader range of European taste in order to test the market and to learn just how strong an appetite Chinese collectors have for Western antiques and works of art.
“Aside from a charity sale in the Forbidden City in 1988 and the auction of a single sculpture in September last year, participation by foreign auctioneers in mainland Chinese auctions has been impossible. China has never seen a sale of Western antiques and fine art of this magnitude in which Western auctioneers have been involved.
“We have been overwhelmed by support for the sale by Triple-A members and their clients and whilst the logistics of pulling this sale together have been immense, everything is going to plan.”
The sale comprises nearly 400 lots and includes more than 160 lots of Antique Furniture and Works of Art; 100 lots of both Oil Paintings, Watercolours & Prints and Contemporary Art; 50 lots of Coins, Stamps books and manuscripts and 50 lots of highly decorative Clocks and silver. A selection will be on view in Beijing at the Radegast Hotel from April 13-14 and in Xiamen in the Freeport Zone from April 18-20, prior to the sale on April 21. Current plans include the re-creation of a Louis XIV style room as a backdrop for the auction. Forums and lectures will be featured at both venues, given by Triple-A