Auction PR Publicity Announcements News and Information
Auction PR Publicity Announcements News and Information

Shinwa Art Auction Co Forms Business Tie-up With Beijing Council International Auction Co

Shinwa Art Auction Co. has announced that it will form a business tie-up with Beijing Council International Auction Co. to auction Chinese antiques from Japan in China.

The two auction houses will sign an official agreement in Tokyo on Feb. 1.

Under the arrangement, Shinwa Art is to submit Chinese calligraphy works and antiques in Japan to Beijing Council’s twice yearly auctions. The first auction is scheduled for June, followed by one in December.

As part of its efforts to expand to overseas markets, Shinwa Art opened a base in Shanghai last autumn. But with local tax code regulations making it difficult for foreign auction houses to hold events in China on their own, Shinwa Art decided to team up with Beijing Council.

The market for art and antiques is shrinking due to the global economic downturn, but this will not deter Shinwa Art’s plan to market works to Chinese customers.

“We predict a relatively near-term recovery in China and neighboring areas,” says Shinwa Art President Yoichiro Kurata.