InfoAnda - China art auctioneers eye slice of Hong Kong market |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Airline Passengers Organize "Opt-Out" Protest of Security Screening Tactics | 19 November 2010
Creator of Java programming language leaves Oracle | | 13 April 2010
Indonesian maids in Malaysia to have weekly day off | 3 September 2009

Jim Carrey, Jenny McCarthy reveal split on Twitter | 7 April 2010

Forum Views () Forum Replies ()

Read more with google mobile : China art auctioneers eye slice of Hong Kong market |

Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Legal Deals Earnings Social Pulse Business Video The Freeland File Aerospace & Defense Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Election 2012 Campaign Polling Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Social Pulse Opinion Opinion Home Chrystia Freeland John Lloyd Felix Salmon Jack Shafer David Rohde Nader Mousavizadeh Lucy P. Marcus David Cay Johnston Bethany McLean Anatole Kaletsky Reihan Salam Edward Hadas Hugo Dixon Ian Bremmer Lawrence Summers Susan Glasser The Great Debate Steven Brill Jack & Suzy Welch Frederick Kempe Christopher Papagianis Mark Leonard Breakingviews Equities Credit Private Equity M&A Macro & Markets Politics Breakingviews Video Money Money Home Tax Break Lipper Awards 2012 Global Investing MuniLand Unstructured Finance Linda Stern Mark Miller John Wasik James Saft Analyst Research Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Money Clip Investing 201 Life Health Sports Arts Faithworld Business Traveler Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Full Focus Video Reuters TV Reuters News Article Comments (0) Pictures The Bond Girls The James Bond film franchise marks its 50th birthday. Learn More Follow Reuters Facebook Twitter RSS YouTube Read Arkansas Republicans' comments on slavery, Muslims stir controversy 06 Oct 2012 Obama and Democrats raise record funds, poll holds steady | 06 Oct 2012 Alec Baldwin says he offered to take pay cut to save "30 Rock" 04 Oct 2012 Turkey strikes back at Syria after Erdogan warning | 06 Oct 2012 Israeli air force shoots down drone aircraft | 06 Oct 2012 Discussed 244 Romney’s strong debate showing puts Europe on edge 155 Obama and Romney battle over economy at debate 151 Weak U.S. labor market looms ahead of elections Sponsored Links Pictures Reuters Photojournalism Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more | Photo caption Battle for Aleppo The battle for Syria's biggest city. Slideshow Looking for work The frontlines of the unemployment crisis. Slideshow China art auctioneers eye slice of Hong Kong market Tweet Share this Email Print Related News Six crew arrested after Hong Kong ferry collision kills 37 Tue, Oct 2 2012 Chinese court upholds fine against dissident Ai Weiwei Thu, Sep 27 2012 China's Xi says Japan's purchase of disputed isles a farce Wed, Sep 19 2012 Anti-Japan protests reignite across China on occupation anniversary Tue, Sep 18 2012 Japan brandname firms shut China plants after protest violence Mon, Sep 17 2012 Analysis & Opinion Hong Kong’s National Day ferry disaster Even one-sided Chinese investment has its benefits Related Topics Entertainment » Fashion » Arts » China » By Yimou Lee HONG KONG | Sun Oct 7, 2012 3:16am EDT HONG KONG (Reuters) - A leading China auctioneer holds a debut sale in Hong Kong on Sunday, lured by the city's international buyers, low tax regime and stable regulatory framework in a trend that could bring more competition for global firms. China Guardian's sale of Chinese art and classical furniture in the former British colony follows its rise as the world's third largest auction house on the crest of China's art market boom, with sales of $1.77 billion last year. "We want to win over more overseas market and buyers," said Wang Yannan, the president of China Guardian and the well-connected daughter of former Communist Party leader Zhao Ziyang. The sale, though relatively small, is seen as a symbolic foray by China's top auction firm into the turf of goliaths Christie's and Sotheby's who have long dominated international auction hubs like Hong Kong, New York and London. China Guardian's key rival, Poly International is also planning an inaugural Hong Kong sale in late November, while A&F Auction and Beijing Rongbao Auction aim to enter Hong Kong in one or two years, according to art market reports. China's wave of millionaire buyers and investors have helped propel Hong Kong into the world's fourth largest art auction hub, with nearly 7 percent of global art auction revenue in 2011, according to French art database Artprice.com. "It's great for competition," Francois Curiel, Christie's Asia president, told Reuters. "Whenever I see more auction houses coming into the market, the pie became larger." Some, however, felt the field was getting crowded. "It's like separating a bowl of rice into two," said Tim Lin of the Lin & Lin Gallery in Beijing and Taipei, referring to increased competition for Hong Kong's multi-billion dollar art auction market. "How long will they last? It's everyone's guess." Art dealers and experts say the Chinese expansion into Hong Kong is also being driven by a tightening regulatory environment in China, that has grappled with widespread art crimes including tax evasion, a proliferation of fakes, money laundering and manipulative bidding practices. TAX PROBE BLOW TO CHINA ART MARKET In April, a large-scale Chinese customs probe into tax evasion on art imports delivered a blow to the art market, with at least six prominent art dealers, collectors and artists being investigated, according to art dealers and Chinese media reports. "The tax probe had a huge impact on the spring auctions in China," said the owner of an art gallery in Taipei who is a frequent buyer in the Chinese art market but who declined to be identified because of the sensitivity of the matter. "Everyone finds himself in danger so the market is extremely cold." According to market research firm ArtTactic, total auction sales this spring from the biggest four auction houses in the China market dropped to $1.5 billion, 32 percent lower than the autumn season in 2011 and 43 percent less than a year before. "The tax investigation has cast a shadow on the Chinese art market," said David Lin of Taipei's Lin & Lin Art Gallery. "It has a psychological effect on buyers and sellers in China ... The chain reaction is going to last for a while." China Guardian's 2012 auction sales tally dropped 46 percent to 2.14 billion yuan ($340 million) this spring season, from 3.98 billion yuan in the 2011 autumn auction, but Wang attributed this largely to a stuttering Chinese economy. "It also has something to do with the slowdown in the economy, but it has nothing to do with the tax," Wang of China Guardian, told Reuters. Art market experts, however, say Hong Kong's laissez-faire economy, solid regulatory framework and zero-tariffs on art imports, make it a secure and stable alternative for China's auction firms. Although Beijing has lowered its import duties on arts to 6 percent from 12 percent since the beginning of 2012, another 17 percent of value-added tax still poses a huge burden to Chinese auction houses. "Hong Kong is a more liberal tax region," said Simon Young, a law professor at the University of Hong Kong. "One would have wondered why they didn't move sooner." (Editing by James Pomfret and Sanjeev Miglani) Entertainment Fashion Arts China Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Sunday, 7 October 2012
U.S. court fight starts for radical cleric sent from Britain |
Iranian relief workers in Libya freed |
Tehran's Grand Bazaar reopens, currency trade still frozen |
Israeli leaders confront political rift as election looms |
Captain killed, tourists hurt in blast on Greek boat |
Touring South America, Panetta renews defense ties with Peru |
French police kill one in raid linked to Jewish market attack |
Comedian Steve Martin in ad for Nebraska Senate candidate |
Chavez's socialist rule at risk as Venezuelans vote |
Man behind anti-Islam film due in L.A. court next week |
Philippines, Muslim rebels agree landmark peace deal |
U.S., South Korea agree to boost ballistic missile capability |
U.S. court fight starts for radical cleric sent from Britain |
Israeli air force shoots down drone aircraft |
South Korea Baby box pastor says new law brings more babies |
Egypt's Mursi says falls short of goals, seeks to assuage critics |
U.S., Peru to update 60-year-old defense cooperation accord |
China art auctioneers eye slice of Hong Kong market |
Rebels seize Syrian army outpost at Turkey border: witnesses |
Suspicions, doubts linger after pope's butler verdict |
Merkel to face protests on first crisis visit to Greece |
British PM Cameron warns: brace for more budget cuts |
France's Hollande vows more security to allay Jewish fears |
Pakistan halts drone protest led by ex-cricketer Imran Khan |
Bosnia Serbs, Muslims vie for Srebrenica mayor |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01