The same billionaire that owns the second largest Chinese auction house, China Guardian Auctions now concentrated in the hands of 13.5 % Sotheby's

Congratulations to British colleagues, Junge! Share "Sotbis" tycoon Chen Dansheng purchased for one of his firms — Chinese insurance company Taikang Life. She is one of the largest insurers in China. Shares were purchased not at once, but in stages. Chen Dansheng (Chen Dongsheng) — is very famous in China man, a businessman with good connections at the state level. He, in particular, founded the first public auction house China Guardian — is the second largest after Poly Auctions. And 59-летний billionaire married to the granddaughter of Mao Zedong (this was mentioned by CNN Money).

When it became known the name of the new co-owner, Sotheby's shares have grown. If in June-июле they cost around $28 in early August — $32. Of course, this is not a takeoff rocket as Nintendo after pokemon, but in General, the market considered the deal positively. This is probably a credibility based on the fact that the entry of Chinese to the Board of Directors will bring greater pragmatism to strategy "Sotheby's" and expand the Asian consumer audience.

Vladimir Bogdanov, AI

Sources: money.cnn.com, news.artnet.com