London-based auction house Christie’s will today kick off its first auction in mainland China.
The auction, held at the upmarket Jing An Shangri-La Hotel in Shanghai, includes 42 works from Asian contemporary art, European modern masters and American post-war art as well as jewellery, watches and wine.
Lots under the hammer include Zeng Fanzhi’s Bicycle, Pablo Picasso’s 1969 Homme Assis and Andy Warhol’s Diamond Dust Shoes.
Total estimates across the sales reached RMB 100 million (£10.1 million).
The auction follows a three-day “cultural gala” which Christie’s created to mark the momentous occasion in its 247-year history.
Christie’s is the first foreign art auction house to receive a licence to operate in China without a local partner. It plans to tap in to the vast number of wealthy art collectors in the country.
Christie’s chief executive Steven Murphy said: “While the events and activity is focused in Shanghai and China, we invite the global art community to join us both in person and virtually via Christies.com as many of the events will be broadcast live from Shanghai”.
