“Forging an Art Market in China”
by David Barboza, Graham Bowley and Amanda Cox via “The New York Times”
“When the hammer came down at an evening auction during China Guardian’s spring sale in May 2011, “Eagle Standing on a Pine Tree,” a 1946 ink painting by Qi Baishi, one of China’s 20th-century masters, had drawn a startling price: $65.4 million. No Chinese painting had ever fetched so much at auction, and, by the end of the year, the sale appeared to have global implications, helping China surpass the United States as the world’s biggest art and auction market.
But two years after the auction, . . . “