Sotheby’s Major Shareholder Is Already a Power in Chinese Art

The New York Times | Chris Buckley:

BEIJING — Three decades ago, the Chinese tycoon Chen Dongsheng became enchanted by televised glimpses he caught of Europe’s opulent auction houses. When one of van Gogh’s “Sunflowers” paintings sold in London in 1987 for $39.9 million, the merging of art and wealth left a deep mark on him. “The images of the auction on television seemed inconceivably distant from my own life,” Mr. Chen wrote in his memoir. “So aristocratic, so refined. For China, an economically backward country that had never shaken off its revolution, the disparity with those scenes on television was too much.”… Read more

Image: Chen Dongsheng in Beijing in 2012. CreditImaginechina, via Associated Press