Share this on Twitter Share this on Facebook Share this on LinkedIn Share this on Sina Weibo Share this on Wechat Share this on LinkedIn A preview of an October 2017 Poly Auction exhibition.Credit: SCHENG ahIM, Creative Commons The world’s auction houses often serve as a mirror for confidence among the wealthy — rising and falling with the markets. Although international auction houses couldn’t operate independently in mainland China until 2013, the country has quickly emerged as a major force in the global auction market. This week, The Wire introduces you to China's two biggest auction houses and examines the global art auction market. Who’s Who Christie’s is the world's biggest auction house. In 2019, the London-based firm had sales of $5.8 billion. Covid-19 has brought new challenges for the industry, of course, but online auctions have seen success: Christie’s had over 100,000 viewers tune in to a July 2020 auction that brought in $420 million in proceeds. New York-based Sotheby’s is the world's second largest auction house. And even during the pandemic, Sotheby's performed well partly because of its sales in Asia. Through July of this year, the company reportSubscribe or log in to read the rest.