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date: 19 August 2019

Beijing Poly International Auction Companylocked

  • Linli Li

Extract

Chinese auction house established in 2005. Before the foundation of Beijing Poly International Auction Company (Beijing Poly Auction), China Guardian was the largest auction business in China. Since taking over China Guardian in 2010, Beijing Poly Auction became the foremost auctioneer and the world’s third largest auction company in terms of auction sales turnover, after Christie’s and Sotheby’s. The rise of Beijing Poly Auction, as well as other auction houses in mainland China, above their Western competitors can be explained by the high tax rates applicable to foreign companies as well as government regulations in the antiques trade applied to foreign companies. Beijing Poly Auction specialized in fields benefiting from the boom in the Chinese art market since the turn of the 21st century: Chinese traditional paintings and calligraphy, Chinese modern and contemporary paintings, antiques and ceramics, rare books and manuscripts, jewellery, and wine. According to the 2014 Global Chinese Art Auction Market Report conducted by the China Association of Auctioneers and Artnet, Beijing Poly International Auction’s turnover accounted for 14 per cent in global market share, by value, of Chinese art and antiques....

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