Research Of Paris Drouot Auction House

Chinese auction industry,especially the art market,has grown rapidly in the past twenty or thirty years,making it one of the most important auction markets in the world.However,the prevalence of fakes,fictitious trading and auctions of shams has greatly damaged the industry reputation,drawing intense attention from all communities.Although the auction industry in China has made remarkable achievements,compared with those of Europe and the United States,it still confronts huge space to improve in the studies of fundamental theories,the laws and regulations,the industry standards and the quality of staffs etc.Nowadays,Britain and the United States have the most competitive auction industries,with a conspicuous lead in the total sales and the total amounts of items every year.France,after 18th century,had been the worldwide culture center for a long time.The art movements and cultural trends emerged one after another,and the pioneers in the philosophy,literature and science,like Voltaire,Rousseau,Flaubert,Hugo and Descartes,the elitists from other countries of Europe,such as Picasso and Madame Curie,all gathered in Paris.The French culture was popular throughout Europe;even the Russian court took French as the official language at the end of 18th century.The art market was quite developed,and Paris held numerous art dealers,sponsors,galleries,art collectors and artists.Today,not as glorious as before,the French auction industry has fallen far behind Britain and the United States,but it still possesses many bright and unique advantages,the populist and the commitment of authenticity for example.As to learn from the west,to reform the market economic system,and to build Chinese modern auction industry,the experience of those of France is extraordinarily worthy as references.The Hotel Drouot was founded in 1852,and its predecessor can be traced back to around 1800.In a period of more than one century and half,with the Paris commune,two world wars,the economic depression and the pressure forced by the EU to open the domestic auction market,the Hotel Drouot has overcome countless challenges.With a long and wonderful history,the auction house is the oldest one in France,and presents itself as the symbol of French auction industry.From the history and tradition,the laws and regulations,the operations and the data analysis,this paper takes the Hotel Drouot as a case study,in order to explore the specialties and trends of French auction industry.In each summary of chapters,the paper compares the relative problems of Chinese auction industry,and proposes the ideas and solutions of its development too.In fact,despite of the description of the influence of the culture and tradition on the auction industry,this paper is not a thesis of cultural comparison.Its focus lies on the case study of the auction house,and the development history,present situations and the suggestions of Chinese auction industry do not occupy the major part.For the studies of foreign auction industry,especially those of France,the published academic papers are limited.For the case study of single foreign auction company or auction house,the achievement is even less.Without any degree in law or finance,the author penetrates shallowly in the discuss of laws and the application of financial tools.While no case study has been published in the relative area,this paper works as a reference for the further research of auction industry in the future.