Wealthy Chinese collectors are buying western art as their tastes move beyond the traditional confines of Chinese ceramics and paintings.
Auction houses said more of the spending power generated by China’s booming economy was being targeted at non-Chinese art, such as Impressionist paintings, Old Masters and 19th century European furniture.
Sotheby’s said the number of mainland Chinese bidding for non-Chinese works in its auctions had risen 54 per cent since 2010, with $378m spent by 530 successful bidders over the period.
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