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Artwork trade month opens with Art Tower on West Bund

Shanghai Daily 徽标 Shanghai Daily 2020/10/17 Yang Jian

The 2nd Shanghai International Artwork Trade Month has been launched along with the ART Tower, a new landmark on the West Bund.

The trading month at the Huangpu River waterfront in Xuhui District will run through November 15, featuring autumn auction events from world-leading auction houses such as Sotheby's and Christie's, as well as exhibitions by prestigious art galleries, artists and collectors from home and abroad.

Under the theme of “Global Art in Shanghai Time,” the month includes more than 100 art events in four theme weeks — international auction, summit and forum, life art as well as exposition. Many online auctions and exhibitions will also be held to meet the demands of overseas buyers amid the novel coronavirus pandemic.

Shanghai aims to become an international artwork trading center, on par with New York, Paris, London and Basel. The city government has released supportive policies and funds to encourage art exhibitions, trading and auctions in Shanghai.

Due to COVID-19, the regular art trading schedule has been disrupted and China has become the core market for international artwork organizations.

During the event, leading auction houses will hold online and offline auctions in Shanghai. Exhibitions such as the West Bund Art and Design Expo, the ART021 and Shanghai Biennale will be held as well.

Xuhui District officially launched the ART Tower on the West Bund on Friday. The complex is set to become the “Shanghai Landmark for the global artwork industry.”

Covering a construction area of 93,000 square meters, the nbsp;seven different buildings will attract the world’s leading art organizations and become an international art trading center, according to the district government.

The Shanghai International Artwork Trading Center is relocated to the complex as one of the first inhabitants to offer services such as art restoration and one-stop trading.

The West Bund Science and Art Innovation Lab was also unveiled in the tower as the practice base for Central Academy of Fine Arts.

Shanghai hosted the first international artwork trading month in November 2019 with 112 events, including exhibitions in cooperation with Sotheby's and Center Pompidou. More than 500,000 people took part in the event, and the total trade volume reached 10 billion yuan (US$1.5 billion).

The city government invested some 20 million yuan in subsidies and provided about 5.8 million yuan in supportive funds for more than 70 participants to the trading month last year.

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