CHRISTIE’S has consolidated its presence in China with a new Shanghai location, as the nation continues to embrace the high-end art industry.
“This building gives us the opportunity not only to bring art from around the world to Shanghai, but to bring the art of China to the rest of the world,” said Christie’s CEO Steven Murphy.
“China now plays a hugely important role in the global art market. Nearly one third of all buyers are from Asia and in the last year, 20% of all new clients to Christie’s globally came from Greater China.”
The move comes a year after the auction house brand first received a license to operate independently in mainland China, holding its first auction there in fall 2013.
SEE ALSO: CHINESE INTEREST RULES THE AUCTION WORLD
Chinese artist Qin Feng created an interactive piece called “Landscape of Desire” for the Christie’s Shanghai opening — a 15 x 30 meter work, executed in black acrylic painted on canvas, which visitors were invited to walk on to add their own imprint to the work.
The canvas will be divided into 108 scenes and each work will be ‘adopted’ or sold for charitable purposes.
Housed in the historic Bund-side 1907 Ampire building, the 10,000-square-foot Christie’s Shanghai is aiming to become a global art hub and converging point between the East and West.
The first three auction sales in the new space will take place October 24.