Integrity vital for China's art auction market
Updated: 2013-04-18 17:37
By Song Jingli (chinadaily.com.cn)
|
|||||||||||
|
Jiang Qiqi(right) makes a speech on the International Auctioneers Forum on April 1, 2013, Beijing. Provided to China Daily] |
China's young art market needs to promote integrity to develop sustainably, said Jiang Qiqi, CEO of Epailive Auction Corp Ltd.
A total of 912 auction houses worldwide have published their auction news via Epailive.com, China's leading online art bidding portal.
Potential buyers from 98 countries have logged onto Epailive.com, which provides registered Chinese auction houses a wider platform, extending their presence beyond China, Jiang said at the International Auctioneers Forum on April 15 in Beijing.
However, compared with international auction houses which have developed for hundreds of years, China's auction market has a very short history of about 20 years and has encountered a lot of problems, such as a lack of integrity.
"It is even harder for potential buyers to trust an online bidding platform and auction companies on it as buyers can not even see the artworks and cannot even understand descriptions which are written in a foreign language," she said.
"It's amazing that Epailive.com has developed so fast," said Rebeeca Li , the vice general manager of the company.
Epailive.com went on a trial operation in April 2011 and has since gained a total of 100,000 registered individuals, one tenth of them purchasing services from Epailive.com, Li said.
The highest online deal value so far is 4.9 million yuan. A buyer bid on Epailive.com for an antique china which was made in the Qing Dynasty (1644-1911) and put on auction by Altair Auctions & Appraisal.
To survive and develop, the start-up has worked hard to make people believe that the website is safe and reliable, said Li.
Related Stories
AVIC International expands to online antiques auction 2011-10-26 17:31
China experiments with duty-free art auction 2013-04-16 10:13
Art gains popularity as passion investment 2013-04-16 07:58
Falling sales paint a bleak picture for China's art market 2013-03-29 10:43
Chinese slump dents global art market in 2012 2013-03-14 13:56
China art auctioneers eye slice of HK market 2012-10-08 15:30
Today's Top News
Police continue manhunt for 2nd bombing suspect
H7N9 flu transmission studied
8% growth predicted for Q2
Nuke reactor gets foreign contract
First couple on Time's list of most influential
'Green' awareness levels drop in Beijing
Palace Museum spruces up
Trading channels 'need to broaden'
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Liaoning: China's oceangoing giant |
Poultry industry under pressure |
'Spring' in the air for NGOs? |
Boy set to drive Chinese golf |
Latest technology gets people talking |
Firms crave cyber connection |