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Chinese auction is a type of the all-pay auction, where the probability of winning depends on the relative size of a participant's bid. [1] The choice of the winner is done by a lottery, whereby the bidders compete for a higher chance of winning. [1] It is also known as penny raffle, chance auction and tricky tray. [2] [3]
[1] [2] [3] It is particularly known for its sale of Chinese calligraphy and ink paintings. [4] [5] First founded in May 1993 by Chen Dongsheng, [6] China Guardian is China's oldest art-auction firm. [5] [7] China Guardian was a leader of the Chinese art auction market until the emergence of Beijing Poly International Auction Co Ltd in the mid ...
China Poly Group Corporation (Chinese: 中国保利集团公司; pinyin: Zhōngguó Bǎolì Jítuán Gōngsī) is a state owned Chinese business group among 102 central state owned enterprises under the supervision of State-owned Assets Supervision and Administration Commission of the State Council (SASAC).
The Chinese auction selects a winner partially based on randomness. [68] The final price for the selected winner is not always conducted according to their final bid. In the case of the second-price ruling as in a Vickrey auction, the final price for the winner is based on the second bidder's price.
Chinese cash coins from every major dynasty in Chinese history and the Republic of China. Chinese cash coins were first produced during the Warring States period , and they became standardised as the Ban Liang (半兩) coinage during the Qin dynasty which followed.
Beijing Hanhai (Chinese: 北京翰海; pinyin: Běijīng Hànhǎi), officially the Beijing Hanhai Auction Co., Ltd, is an auction house located in Beijing.Established in 1994, after the Chinese government began allowing the auction of relics, it grew under the management of Qin Gong to become one of the country's largest auction houses by 2003.
A bowl made around 900 years ago has just fetched $38 million at auction, setting a new record for Chinese porcelain. The antique Chinese bowl was made around 900 years ago during the Song Dynasty ...
Duo Yun Xuan (simplified Chinese: 朵云轩; traditional Chinese: 朵雲軒; pinyin: Duǒ Yún Xuān) is an art dealer and auction house, which was founded in Shanghai in 1900. It is located on Nanjing East Road in Shanghai. Duo Yun Xuan was the first company to hold art auctions in mainland China. [1] [2]