China's leading auctioneer Guardian launched its traditional autumn auctions Sunday at Kunlun Hotel in Beijing.
China Guardian Auctions Co., which is the most influential among the country's art auctioneers, plans to revive the market with its well-prepared auction lots.
The most valuable items going under the hammer could be a 300-year-old porcelain bowl which may fetch up to two million yuan (US$240,000) and a painting on bamboo drawn by an ancient eremitic painter Zheng Banqiao, which has a reserve of 1.5 million yuan.
In the eight auctions from November 4 to 6, Guardian will offer domestic and overseas collectors more than 3,200 auction lots.
The influential auctioneer has put off any plans for selling jewelry at present because most Chinese collectors are not accustomed to buying diamonds or jade at auction.
According to Kou Qin, vice general manager of the company and an internationally-accepted auctioneer, Guardian will focus on its strong points, ancient and modern Chinese paintings and calligraphies.
The more than 800 paintings, which could fetch up to 50 million yuan, include well-known pieces by Zhang Daqian, Fu Baoshi, Huang Binhong, Qi Baishi, Xu Beihong and Pan Tianshou.
In the catalogue another hot spot might be an ancient Japanese book, which was printed with bronze types jointly made by Korean, Chinese and Japanese artisans.
A full set of three metal Renminbi proof coins, which could be sold at upwards from 280,000 yuan, is expected to arouse high interest at the auctions.
( November 5, 2001)
