Chinese Auction Market Sales Reached RMB 700 Billion in 2013, Report Says

The Chinese Porcelain Dragon Box Sold at Bonhams. Courtesy Bonhams

With Asia Week New York beginning tomorrow, March 14, it’s worth noting that the China Association of Auctioneers (CAA) released its 2013 “Performance Analysis of Chinese Auction Industry & 2014 Outlook” at a press conference on February 26th.

The report, which analyzed results from 2,450 auction sales held in 2013, states that the Chinese auction market showed a turnover of RMB 700 billion in 2013. It also says that last year the value of online auction transactions passed the RMB 20 billion threshold, and fine art auction sales totaled RMB 31.383 billion, a 22.23 percent increase in turnover compared to 2012.

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