BEIJING, Dec 1: Sotheby’s will hold its first major auction on the Chinese mainland on Sunday as competition between the New York-based auction house and its long-time rival Christie’s moves into one of the world’s hottest art markets amid a government crackdown on corruption and luxury spending. Sotheby’s and its local joint venture partner, Beijing Gehua Art Company, are offering a slate of modern and contemporary Chinese works with a total estimated value of more than 123 million yuan ($20.19 million) as part of “Beijing Art Week”. (agencies)
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