IN the spring of 1994, the China Guardian Auction Company Ltd., held a successful painting and calligraphy auction, which not only set records for unit price and total sales volume, but also successfully restructured its business according to international standards of the arts market. Guardian’s success has given new inspiration to the mainland arts market, which is still in the early stages. it also has renewed the enthusiasm of collectors and businessmen who are also interested in art as an investment. IN the spring of 1994, the China Guardian Auction Company Ltd., held a successful painting and calligraphy auction, which not only set records for unit price and total sales volume, but also successfully restructured its business according to international standards of the arts market. Guardian’s success has given new inspiration to the mainland arts market, which is still in the early stages. It also has renewed the enthusiasm of collectors and businessmen who are also interested in art as an investment.