Auction houses have lots going their way

The city's auction industry is enjoying a record-breaking year and things look set to get even better with major auction houses announcing plans for more high-profile sales.

China Guardian Auction, the country's largest auction house, announced after its latest four-day auction in Beijing that its autumn sales had hit more than 4.1 billion yuan - a new record for a domestic auction house in a single auction season.

Among the 8,500 items sold in seven categories - including Chinese painting and calligraphy, porcelain, oil painting, sculpture and photography, jewelry and watches - were three sales of items that each sold for more than 100 million yuan. Fifty-two other items each sold for more than 10 million yuan.