China and the art market (ctd.)
May 30 2017
Picture: via AMM
Marion Maneker at the Art Market Monitor looks at the possible impact China's new capital controls might have on the global art market:
One of the issues facing the art market is capital controls on Mainland Chinese art buyers. We already saw mentions of this by art dealers in Hong Kong during Art Basel.
In the recent New York sales, Chinese buyers were mostly visible as under-bidders. Whether the few buyers are using money they earned overseas or money they previously moved off shore isn’t really something that can be easily discovered.
More here.
