China

Sotheby’s has added its weight to the art market’s response against President Donald Trump’s imposition of import tariffs on Chinese works of art in the US.

Christie’s has been praised for its stance on US tariffs on Chinese art after it became the first art market firm to seek exclusion from the tax, part of the ongoing trade war between the US and China. Late in October, Christie’s applied for exemption from a “punishing” import tax on seven types of Chinese art.

Chinese art and antiques are part of a new list of $300bn-plus of imports drawn up by President Trump’s administration in the country’s escalating trade war with China, ATG understands.

An exceptionally rare Western Zhou bronze, taken when the Summer Palace was sacked by British troops in 1860, has been returned to China.

The recently discovered pair to the famous ‘Bainbridge vase’ has sold in Hong Kong today for a premium-inclusive HK$149m (£14.6m). Bidding opened at HK$40 million and steadily climbed as five bidders competed for the lot.

An extraordinarily rare artwork by pre-eminent Chinese scholar Su Shi (1037-1101) will be offered at Christie’s Hong Kong later this year. The auctioneers are hoping that it could make a record for any Asian work of art.

Sotheby’s has promoted Nicolas Chow to chairman of Sotheby’s Asia. He has risen through the ranks of the company as the Chinese art market has grown rapidly since he joined Sotheby’s in 1999.

Today marks Chinese New Year, heralding the year of the dog. Those born in the year of the dog are said to be loyal, honest, just and popular in social circles.

China Guardian is to open a new flagship building in Beijing this spring with auction and museum space.

Sotheby’s posted a record price for any piece of Chinese ceramics sold at auction after a rare Ru guanyao brush washer drew a 20 minute bidding battle in Hong Kong.

Failure by buyers to pay for works of art they have successfully won at auction in China remains a major problem for the industry, according to the latest report.