The Art Newspaper

Leading Chinese auction house sets sights on London

While rival announces plans for IPO

By Lori Yi. Web only
Published online: 26 August 2011

LONDON. China Guardian Auctions, the second biggest auction house by revenues in China, may open a branch in London.

Kou Qin, the vice-president of the company, said it is “considering” opening an office in the UK capital, although he did not give a time frame.

He was speaking at a seminar organised by the School of Oriental and African Studies, in partnership with the China Association of Auctioneers, in London in July, as part of a collaborative programme to introduce professional guidelines to China.

Meanwhile, Poly International Auctions, China Guardian's bigger rival, has announced plans for an Initial Public Offering—a launch on the stock markets—in early 2012, according to Skate's, the market research firm. Such a move “may increase mainland China market transparency”, said Stifel Nicolaus, the Baltimore stock market research firm, in a recent report.

Additional reporting by Melanie Gerlis