Guardian Auction enters Hong kong market

The Chinese oldest auction company, China Guardian will enter the Hong Kong market with its forst sale on October 7. The focus will be on Chinese traditional modern paintings like favorites, Qi Baishi, Li Keran and Xu Beihong, old masters from the 1920-30’s.
This has created a great anticiption in the HK market and it will be head-to-head contest between the Chinese mainland and the western auction houses. Choosing October, Guardian will compete with Sotheby’s who normally are first for the season and draws more than a quarter of its auction revenue in HK. However other sectors like Chinese contemporary is not challenged for now.
It would not take long before Guardian’s archrival Poly Auctions will enter Kong Kong market as well but sofar no announcement. Most likely they will enter in 2013 spring auction.

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