Corporate News: Pinault Family Donation to the people of China
Beijing, China - The Pinault family has donated the bronze rabbit and rat fountain heads of the Old Summer Palace to the people of China. An official donation ceremony was held at the National Museum of China to welcome these 18th century cultural relics back home.
Steven P. Murphy, Chief Executive Officer of Christie’s says, “The generous gift to the people of China of these historic works of art marks a memorable act of philanthropy by the Pinault family. As one of the leading proponents of the importance of cultural heritage, Christie’s is delighted to have played an instrumental part in ensuring their return. We welcome the fact that they will now go on display in the National Museum of China where many millions of Chinese and visitors to China will have the wonderful opportunity to appreciate them once again.”
Christie’s, the world’s leading art business, had global auction and private sales in 2011 that totaled £3.6 billion/$5.7 billion. Christie’s is a name and place that speaks of extraordinary art, unparalleled service and expertise, as well as international glamour. Founded in 1766 by James Christie, Christie’s has since conducted the greatest and most celebrated auctions through the centuries providing a popular showcase for the unique and the beautiful. Christie’s offers over 450 auctions annually in over 80 categories, including all areas of fine and decorative arts, jewellery, photographs, collectibles, wine, and more. Prices range from $200 to over $100 million. Christie’s also has a long and successful history conducting private sales for its clients in all categories, with emphasis on Post-War and Contemporary, Impressionist and Modern, Old Masters and Jewellery. Private sales totaled £502 million / $808.6m in 2011, an increase of 44% on the previous year.
Christie’s has a global presence with 53 offices in 32 countries and 10 salerooms around the world including in London, New York, Paris, Geneva, Milan, Amsterdam, Dubai, Zürich, and Hong Kong. More recently, Christie’s has led the market with expanded initiatives in growth markets such as Russia, China, India and the United Arab Emirates, with successful sales and exhibitions in Beijing, Mumbai and Dubai.
*Estimates do not include buyer’s premium. Sales totals are hammer price plus buyer’s premium and do not reflect costs, financing fees or application of buyer’s or seller’s credits.
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