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Sothebys opens up French market

Paris was once the leading centre for arts sales

Four-and-a-half centuries of state control in the French art world will come to an end on Friday, when the international auction house Sothebys makes its debut in Paris.

The auction will bring the hammer down on an antiquated sales system which has brought the French art market to its knees.

Until the late 1950s, Paris was arguably the world's leading centre for art sales.

But in recent years its star has fallen, as New York and London have led the way.

Its share of the market has fallen to just 5%, against around 90% in the period just after World War Two.

Under the old system, France's auction halls were the domain of the so-called comissaires-priseurs; state auctioneers who fiercely resisted attempts to allow private firms to join the party.

Experts say the regime had its roots in the sixteenth century, when state regulation was seen as a way of protecting the bourgeoisie from unscrupulous sellers.

Competition

However with the market declining and under pressure from international auction houses, the government agreed last year to open the market, forcing the state auction houses to become private companies in order to survive competition.

The Sothebys sale will be followed in early December by an auction hosted by the company's arch-rival Christies.

Analysts say the long-awaited opening up of the market could tempt owners to bring a range of dusty treasures into the light of day.