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At short notice, the inaugural Forever-Christie’s sale is scheduled for November 2 and will focus upon the fast-growing international market for Modern and Contemporary Chinese paintings.

More than 450 pictures will be offered from The Great Wall Sheraton Hotel in Beijing in a $10m sale designed to target Chinese new money on its doorstep.

Forever is a newly incorporated auction house based in Beijing with aims to become one of the leading fine art auction houses in China. Christie’s will provide the international marketplace, the expertise and the levels of professional care for future partnership sales.

Under the agreement, settled last week, Christie’s will license their name, provide experts and oversee the entire auction process, from the acquisition of works for sale to the printing and design of the catalogue.

The partnership deal is necessary because the Chinese government places severe restrictions on foreign businesses holding auctions on their own.