Sotheby’s has taken steps toward increasing its visibility in China by inking an agreement with state-run Beijing GeHua Art Company, which gives Sotheby’s an 80% stake in the organization, in exchange for $1.2 million. The global art dealer may now have the option of trading in mainland China; without a local partner, foreign houses may not conduct business in the country in areas other than Hong Kong.
Read the article via The Art Newspaper
