In the span of two months, Sotheby's, Christie's and Bonhams will each see the culmination of years-long efforts to upgrade their regional headquarters in the southern Chinese city
Exhibits are seen on display during a media tour of the new two-storey, 24,000 square foot (2,230 square metre) Sotheby’s space in the Central district of Hong Kong. Image: Isaac Lawrence / AFP©
Three of the world's top auction houses are racing to expand in Hong Kong, eager to woo young Asian buyers even as the global art market retreats from pandemic-era highs.
In the span of two months, Sotheby's, Christie's and Bonhams will each see the culmination of years-long efforts to upgrade their regional headquarters in the southern Chinese city.
Sotheby's on Thursday unveiled showrooms at an upscale mall in Hong Kong's finance district, a two-storey space previously occupied by fashion label Giorgio Armani.
"We envision for this state-of-the-art space in Hong Kong to be the epicentre of culture for global visitors," managing director of Asia Nathan Drahi said at the opening.Â
"We are very confident in the prospect of Hong Kong because it possesses some strong fundamentals for our industry," he told AFP, pointing to the favourable tax framework.