The Legal System of Art Auction in China

This book is the first book to comprehensively and deeply explain and construct the legal system of Chinese art auctions. Based on agency theory in traditional contract law, this book combs the legal relationship between client, auctioneer, and buyer. Aiming at the most difficult problem of art identification, this book shows the obligations that auctioneers must perform and the common methods for auctioneers to avoid these obligations. The purpose of this book is to ease the current situation in which the interests of buyers and auctioneers are too opposed and speed up the legalization process of art auctions through the construction of the legal system of art auctions in China. Additionally, using the method of policy demonstration, this book discusses how public power should intervene in the process of art auctions. Acknowledgements Contents 1 Introduction to Auction Legal System 1 China’s Auction Legal System 1.1 The Auction Legal System is the Foundation of the Auction Legal System 1.2 Auction Core Regulations 1.3 Special Laws and Regulations for Auction 1.4 Compulsory Auction Regulations 1.5 Laws and Regulations Related to Auction 2 Relations of Fundamental Rights and Obligations of Auction 2.1 Parties to the Auction 2.2 Auction Targets 3 Several Basic Issues Related to the Legal System of Auctions 3.1 System of Auction Legal System 3.2 Industry Self-regulation Rules and Enterprise Auction Rules 3.3 Legal Principles on Auction Activities 3.4 The Connotation and Extension of Auction in the System 4 Past and Future of Auction Legal System 4.1 The Development Trajectory of China’s Auction Industry 4.2 Auction Custom System and Auction Law System 4.3 Prospect of Auction Legal System 2 Art Works that Are Subject to Adjustment Under the Auction Law 1 Artists and Works of Art 1.1 The Meaning of Art 1.2 The Definition of Artist 2 Artworks from Different Perspectives 2.1 The Meaning of a Work of Art 2.2 Works of Art from the Perspective of Law 2.3 The Status of Works of Art in Auction Law 3 The Difference Between Artwork and Similar Concepts 3.1 Works of Art and Cultural Relics 3.2 Works of Art, Works of Art and Works of Fine Art 3.3 Classification in Tax Rules 3.4 Works of Art and Cultural Property 4 Summary References 3 Legal Relations of Artwork Auction 1 Comparative Study on Legal Relations of Art Auctions 1.1 A Legal Relationship in the Name of the Appointee Representing the Purport of Agency 1.2 The Legal Relationship in the Name of the Auctioneer Without Indicating His Intention to Act as Agent 2 Reflection on the Legal Relationship of Arbitrary Auctions 2.1 Reflection on the Determination of Legal Relationships of Arbitrary Auctions 3 Self-reflection on the Application of the Law on the Legal Relationship of Arbitrary Auctions 3.1 Interpretation of the Internal Provisions of the Auction Law of the People’s Republic of China 3.2 Interpretation of Applicable Laws for Auctioneers Acting in the Name of Their Appointees 3.3 Explanation of Indirect Agency Relationship 4 Summary References 4 Research on the Obligations of Art Auctioneers 1 Appraisal and Approval of Works of Art 1.1 The Right of Appraisal 1.2 Administrative Supervision Over the Appraisal Power 1.3 Disputes Over Appraisal Obligation 2 The Purpose of the Work of Art Approval 2.1 Seeking Truth 2.2 Evaluation 3 Contents of the Obligation of Examining and Approving Works of Art 3.1 The Duty of Diligence of the Auctioneer Toward the Trustee 3.2 The Auctioneer’s Express Guaranty Obligations References 5 Exemption System of Art Auction Contract 1 Commercial and Judicial Practice of Exemption System 1.1 Interpretation of Disclaimer Clause 1.2 The Nature and Dimension of Artwork 1.3 Authenticity of Works of Art 1.4 Typical Cases 2 Disclaimer of Defects 2.1 The Meaning of Warranty Liability for Defects 2.2 Disclaimer Notes 3 Emptor 3.1 Implications of Caveat Emptor Principle 3.2 The Application of the Caveat Emptor Principle in Art Auctions 4 The Catalog is Uncertain 4.1 Auction Catalog and Statements Thereof 4.2 Cases Related to the Uncertainty of Catalogs 5 Summary 6 Blockchain Technology and Research on Informed Consent Rules in Art Auctions 1 Theoretical Basis of Informed Consent Rule in Art Auctions 1.1 Informed Consent Rules and the Principle of Good Faith 1.2 Informed Consent Rules and Independent Decision and Self-responsibility 1.3 The Expansion of the Theory of Self-determination and Self-responsibility 2 Summary 3 Challenges to Informed Consent Rules in Art Auctions 3.1 Formalization of Informed Consent Rules 3.2 Commission System and Consideration 3.3 Summary 4 Reconstruction of Informed Consent Rules in Art Auctions 4.1 Relaunch of Informed Consent Rules 4.2 Informed Consent Rules Based on Reliance Liability Theory 4.3 The Imputation Principle of Active Reliance Protection References 7 Policy Argumentation on Records of Artwork Authentication 1 Introduction 1.1 Introduction to the Record System of Artwork Authentication 1.2 Overview of Policy Arguments 2 Policy Information on the Record of Artwork Authentication 2.1 Problems to Be Solved by the Policy 2.2 Policy Objectives 3 Policies and Propositions on the Record of Artwork Authentication 4 Reasons for the Record of Artwork Authentication 4.1 Arguments 4.2 The Supporting Basis of the Argument 5 Reasons for Refuting the Record of Artwork Authentication 5.1 Reasons for Refutation 5.2 The Supporting Basis of the Reasons for Refutation 6 Credibility Analysis of Artwork Authentication Record 7 Conclusion References Bibliography