Artnet Auctions Is Teaming Up With Poly Auction to Stage an Online Sale of Blue-Chip Art in China This Summer
The sale will appear on the Poly Auction platform.
Artnet Auctions will conduct a joint online auction this summer in collaboration with Poly Auction. As the art market in Asia continues to see extraordinary growth, the region has played a major role in the art market’s global recovery from the effects of the pandemic.
The new strategic partnership underscores Artnet Auctions’s commitment to broadening its global presence and participating in the continued growth of the Asian market. The forthcoming online sale will feature a tightly curated selection of artworks sourced by Artnet Auctions’s global team of specialists.
The sale will be hosted on Poly Auction’s online platform, and offer opportunities for Asia-based collectors to participate in Artnet’s offering of premium post-war and contemporary art, prints and multiples, and photographs. The curated selection of works will be made available in the coming weeks.
“Artnet has long been focused on thoughtful and strategic global expansion, and Asia is an undeniable force in the art market,” said Jacob Pabst, CEO of Artnet Worldwide Corporation. “Artnet looks forward to partnering with Poly Auction in this exclusive relationship and looks forward to realizing and creating value for clients around the globe across both companies.”
The partnership will allow Artnet Auctions “to open its rich and diverse pipeline of inventory to one of the strongest collecting markets in the world,” said Colleen Cash, vice president of Artnet Auctions. Clients depend on the company for “opportunity, value, and our global reach.”
This partnership “is a true embodiment of that proposition,” she added. “We are delighted to embark on this relationship with Poly Auction and anticipate that clients across the globe will feel its value immediately.”
Western entities typically need business partners inside mainland China in order to transact auction activities there. It also helps for buyers in mainland China to transact with a Western business when there’s an intermediary. The Artnet x Poly partnership helps facilitate both sides of the equation. Artnet and its team of specialists will work to furnish a sale held on Poly’s mobile app with blue-chip artworks from the Western canon that may be harder to come by in traditional mainland auctions.
Read more about Asia’s role in the global art market rebound, as well as a detailed analysis of trends across categories of art and the outlook going forward in this report published in the Fall 2021 edition of the Artnet Market Intelligence Report.
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