Art Vault Planned for Beijing Airport

By Jonathunder (Own work) [CC-BY-SA-3.0 (http://creativecommons.org/licenses/by-sa/3.0) or GFDL (http://www.gnu.org/copyleft/fdl.html)], via Wikimedia CommonsBloomberg News reports a $100 million tax-free storage facility is planned adjacent to Beijing Capital International Airport to tap the booming Chinese art market. Euroasia Investment SA plans to build is to replicate its Singapore Freeport model with a maximum-security vault for art, gold and valuables. Collectors will be to store valuables without paying taxes or filling customs forms. A source told reporters the site will also include exhibition space designed to host international auctions.

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