Commitments in the Self-Discipline Agreement: Do not auction items prohibited by the state for circulation. Do not auction stolen or illegally exported cultural relics from other countries. Do not engage in commercial appraisal activities. Do not charge any fees to consignors before the auction. Do not engage in any form of false advertising regarding auction items.

Due to improper storage, the auctioned item, a Qing Qianlong Gourd Vase, was lost, and the auction company was ordered by the court to pay 1.5 million yuan in compensation. On June 12, the Beijing Dongcheng District Court released the White Paper on the Adjudication of Cultural Relics and Art Auction Cases (2014-2024), which included three typical cases. One of these cases highlighted the legal principle that if an auction item is damaged or lost due to the auction house’s fault, the auction company must bear the corresponding compensation responsibility. The reserve price will be an important reference for the court in determining the loss amount.

On March 26, the Art Committee of the China Auction Industry Association released the 2024 Review of Fifteen National Cultural Relics and Art Auction Companies at the 2025 Art Development Forum. The review covers fifteen auction companies, including China Guardian, Xiling Auctions, Zhongmao Shengjia, Beijing Poly, Beijing Yongle, Shanghai Jiache, Huayi International (Guangzhou), Beijing Yinzuo, Shanghai Kuangshi, Guangdong Chongzheng, Shanghai Duoyunxuan, Beijing Huachen, Beijing Chengxuan, Beijing Rongbao, and Beijing Hanhai, based on their announced transaction volumes (sorted by total turnover). By statistically analyzing the data from their spring and autumn auctions, the review reflects the basic trends and conditions of the national cultural relics and art auction market in 2024.

China Auction Industry: A Path to Multi-Dimensional Development from Disputes to Standardization and Innovation

Even if one has never been to an auction, many people have seen auction scenes in TV dramas: "Starting bid, 5 million!" "6 million!" "6.5 million!" "10 million, first time, 10 million, second time, 10 million, third time..." The auctioneer then looks around to confirm no further bids are made, and finally brings down the hammer, announcing the sale.

Cases involving cultural relics and art auctions exhibit complex legal relationships and intense disputes between the parties involved. On June 12, the Dongcheng District Court in Beijing released the Cultural Relics and Art Auction Case Judgment White Paper (2014-2024). The white paper points out that the declaration to waive warranty for defects has become a common practice in the cultural relics and art auction industry. The auctioneer’s obligation to truthfully disclose information about the auction items, along with the defect warranty waiver statement, often becomes the focal point of legal disputes in these cases.