The New York Times looks at the operations of The Poly Culture Group, a state-backed Chinese conglomerate that runs the world’s third largest auction house, and holds an indelible sway over the nation’s contemporary art market. “Both Sotheby’s and Christie’s reputation in mainland China is relatively new, and they haven’t had the time to properly root themselves,” says Anders Petterson, the managing director of ArtTactic. “So when market confidence is weakening, the newcomers are likely to be more exposed than the key domestic players.”
Read more at New York Times
