David Kwok on Auction Houses in Britain and China: The History and the Law (Art Antiquity and Law)

"Auction Houses in Britain and China: The History and the Law"
David Kwok
Art Antiquity and Law (2024, Vol 29, Issue 3, pp.238)
Published online: October 2024

Abstract: The article "AUCTION HOUSES IN BRITAIN AND CHINA: THE HISTORY AND THE LAW" discusses the historical development of art auctions in Britain and China. In Britain, art auctions have a long history dating back to the seventeenth and eighteenth centuries, reflecting the rise of the middle class during the industrial revolution. In contrast, art auctions in China are a more recent phenomenon, emerging in the late 1980s and early 1990s after the country's transition to a market economy. Both English and Chinese laws protect auction houses from claims brought by buyers, emphasizing the principle of caveat emptor. The legal obligations of auction houses in both countries are similar, with courts often finding auction houses not liable for claims brought by buyers. The article highlights the complexities and uncertainties surrounding the art market, emphasizing the subjective nature of attributions and the challenges of tracing authenticity over time.