| Summary: | 碩士 === 國立政治大學 === 經營管理碩士學程(EMBA) === 100 === The main areas of Chinese art market are Taiwan, Hong Kong and Mainland China; however, the developing background, time and model in each area are quite different. Among the three, Taiwan is the earliest and the most developed market for Chinese oil paintings because of its full preservation of Chinese culture and humanities. Taiwan almost dominates the market trend of “20th Century Chinese Art”.
In 1980s, the economy in Taiwan was booming and commercial activities were very active which lead to thriving art market. Sotheby’s foresaw the opportunity to carry out auction business in Taiwan. Therefore, the company established Taiwan branch office in 1981 and upgraded the branch to auction center in 1992, holding the first auction in Taiwan on March 22nd in the same year.
Its competitor, Christie’s, established Taiwan branch in 1991. Unlike Sotheby’s, Christie’s formed a joint venture to enter Taiwan. It established “Christie’s Swire” Taiwan in 1991 and started its first auction in October 10th, 1993. The two global auction companies coming to Taiwan to hold auctions drove Taiwan’s art auction industry to be geared to international standards. Furthermore, Sotheby’s and Christie’s coming has transformed Taiwan to become the most mature art market of 20th Century Chinese Art.
The purpose of this thesis is to compare the operational strategies of Sotheby’s and Christie’s in Taiwan in the 90s. By analyzing their strategies and resource bases, we can understand how heterogeneous resources affect their competitiveness, sustainable competitive advantages, and pursuing of growth opportunities. Because most Taiwanese local auction houses are small and have less competitive advantage, facing the strong growth of Asian art market and potential competition of foreign auction houses, I hope that my research findings can help their strategic thinking and strategy formation to capture the business opportunities in 20th Century Chinese Art.
This research finds that the core strategy to make Sotheby’s and Christie’s successful in Taiwan art market is “adaption”, which is a poly-centric adaption in which the companies are pretty familiar with local conditions and culture of the host country. As for the impact these two companies have on Taiwan art auction industry, this research finds that Sotheby’s and Christie’s coming not only help Taiwan settle the norms of auction and make Taiwan to be geared to international standards, but also drive galleries, art fairs and other related art industries upgrading. The successful auctions in Taiwan have also stimulated the development of other industries, such as hotels, restaurants, conventions, exhibitions, and luxury industry.
※ Keywords: Resource-based view, Sotheby’s, Christie’s, 20th Century Chinese Art.
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