By Louise Chen
Originally published on Artinfo.com, July 02, 2010
http://www.blouinartinfo.com/market-news/article/35104-china-adopts-new-rules-for-auctions-of-cultural-relics
Today in China new rules went into effect that are aimed at bringing uniformity to the sale of cultural relics at auction, a practice that has historically been governed by vague and contradictory rules. The new guidelines, codified as the Standard for Auction of Cultural Relics and Art Works, were drafted by the nonprofit organization China Association of Auctioneers (CAA) under the supervision of the Ministry of Commerce (MOFCOM).
The new regulations define auction terminology and outline standard practices for various parts of the auction process, including consignments, catalog production, and the archiving of auction records. The new standards also reinforce a provision passed by the State Administration of Cultural Heritage in 2003 that requires owners of cultural relics to acquire and provide ownership certificate to auction houses.
The adoption of the new rules marks the end of a three-year process of legal research and investigations of the auction business in China and reached an important milestone in December when the CAA hosted the International Cultural Relics and Art Auction Forum in Beijing, a meeting that made important progress toward finalizing the new rules. That meeting focused on market regulations and strategies for reclaiming stolen cultural treasures, and involved the participation of presidents from international auction houses, experts on cultural relics, and government officials.
In recent years, China has vigorously pursued cultural relics that it believes were removed from the country illegally. One notable case was Christie's sale of the collection of Yves Saint Laurent and Pierre Bergé lastyear, which featured two bronze animal heads taken out of the Old Summer Palace during the 1860 Opium War. In addition, another major efflux of early cultural artifacts took place between 1980s and 1990s as some Chinese families sold their family heirlooms to the foreign collectors.
According to the recent statistic released by deputy mayor of Beijing Cai Fuchao, about 1,000 auctions featuring classical art and cultural relics have been held in the city during the past six years, generating RMB 40 billion ($590 million) in sales. “The capital city has become the market hub of primary artworks & cultural relics in China,” Cai said in a statement. “Ten-thousand pieces of looted cultural relics are estimated to return every year, and the number will be increasing year by year.” With the new Standard, auction officials hope that number will continue to grow.