The New York Times reports on the state of the auction market in mainland China, where rampant forgeries and a rapidly expanding marketplace have made the bidding experience a fraught procedure. With a market that has grown to annual revenues of $8.9 billion over the past years, regulators are struggling to keep up. “The market is in a very dubious stage,” said Alexander Zacke, an expert in Asian art who and head of online house Auctionata. “No one will take results in mainland China very seriously.”
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