Sothebys
China's elite apparently have an appetite for fine art and antiques.

In 2004, about 3% of Sotheby's auction sales came from Greater China (mainland China, Hong Kong and Taiwan).

Fast forward to 2011 and Chinese sales made up more than 17% of the company's sales worldwide.

"That is the most dramatic shift in demographics and consumption that we've seen in 270 years," William Ruprecht, president and CEO told Yale students in October.

The surge has led Sothebys to expand its facilities in Hong Kong and focus on building its relationship with Chinese art collectors.

"We're in the middle of the most exciting and the most complex shift in mass wealth creation," Ruprecht said.


By Annalyn Censky @CNNMoney - Last updated April 26 2012: 6:07 PM ET
Join the Conversation
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.