One of the world's largest auction house, Sotheby's announced that it has signed a joint venture with a Chinese state owned company, making it the first international fine art auction house to operate in the country. The deal with Beijing GeHua Art Company, which is subject to government approval, will give Sotheby's a foothold in China where foreign auction houses are normally prevented from operating by law. Sotheby's opted for the creation of a joint ...Sunday, 23 September 2012
Sotheby's Become First Auction House to Enter Chinese Market
One of the world's largest auction house, Sotheby's announced that it has signed a joint venture with a Chinese state owned company, making it the first international fine art auction house to operate in the country. The deal with Beijing GeHua Art Company, which is subject to government approval, will give Sotheby's a foothold in China where foreign auction houses are normally prevented from operating by law. Sotheby's opted for the creation of a joint ...
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