Forgeries Run Rampant in Mainland Chinese Auction Market

October 29th, 2013

Qi Baishi’s “Eagle Standing on a Pine Tree,” via New York TimesThe 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.”

Read more at New York Times