Art auction market rebounding

Last year, the turnover of China's antique and art auctions in 2016 surged by 16 percent year-on-year to reach 19.5 billion yuan ($2.8 billion), rebounding to a level last seen in 2014, according to the China Association of Auctioneers.

A report about China's art auctions, published by the association last year, said the turnover was calculated based on the combined sales from the country's top 10 auction houses, which jointly account for the lion's share of the national total.

According to the report, the 10 auction houses - including Poly Auction, China Guardian Auctions, Canton Treasure Auction and Shanghai Duoyunxuan Auction - held 403 auctions and 64,516 items were put up for sale. More than 47,000 of the lots were sold