2022 Hong Kong Auctions Drive US$1.1 Billion in Record Sales for Sotheby’s Asia
Marking Seventh Consecutive Year as Asia’s Market Leader
We are thrilled to be lodging Sotheby’s in its dazzling new maison in Hong Kong. Echoing the all-encompassing way of life that is testament to our near three-century-old company heritage, Sotheby’s new space will embody our vision for a widely accessible, immersive and truly integrated destination for the world’s most extraordinary objects and experiences.
Sotheby’s today announces the opening of its maison in Hong Kong, a spectacular new 24,000 square foot space in the nexus of the city which has been home to the company in Asia for half a century.
Located at Landmark Chater – Hongkong Land’s crown jewel in the core of the city’s luxury district – the new maison, which is at street level and accessible to the public year-round, will open in 2024. The multi-functional house will encompass an expansive state-of-the-art exhibition space and showcase Sotheby’s full suite of offerings – from the company’s signature auctions, private sales and masterworks exhibitions, to art and luxury collectibles available for instant purchase via the recently introduced Sotheby’s Buy Now platform. The new location will enable continuous client engagement cadenced by a sale calendar spread across the year, with live auctions hosted within the same compound. A Sotheby’s café concept will complement this all-encompassing experience.
Strategically located at the nerve center of Hong Kong, the immersive two-storey maison will feature many access points – from street to footbridges – allowing collectors and visitors alike to enjoy an array of extraordinary objects and experiences from across time and geography. An unparalleled façade, sprawling over two sides, will project Sotheby’s 278-year-old profile to the public, and anchor this space as the vital cornerstone of art and culture in Hong Kong.
As part of its growth strategy, Sotheby’s will also move its headquarters to a 36,000 square foot, brand new office developed by Swire Properties and scheduled to open in 2024. Branded Six Pacific Place, the new Sotheby’s Hong Kong headquarters will spread across four continuous and interconnected floors in the Pacific Place portfolio, and be a stone throw away from Sotheby’s new maison in Central. The new headquarters will also benefit from the superb connectivity brought by its proximity to the Admiralty MTR super-interchange station, and the leading Wellness, Sustainability and Technological pre-certification that the new building has achieved.
Strong Result at Hong Kong Sales Contributes to Company Expansion Across Asia
In a move that underscores Sotheby’s full commitment to both Asia and Hong Kong, the company’s expansion in the city comes concurrently to the opening next year of new premises in Shanghai, adjacent to the Suzhou River, and follows a successful year for Sotheby’s in Asia with auction sales of US$1.1 billion – matching the company’s 2021 all-time-high record. During 2022, Sotheby’s also opened a new office in Tokyo, staged its first auction in Singapore for 15 years and held the first major international exhibition in Vietnam. The year also welcomed new appointments in Mainland China, South Korea and Thailand, as well as the recent expansion of Sotheby’s Buy Now in Hong Kong to enable collectors to acquire art and luxury collectibles via an intuitive digital platform all-year round in addition to the auction calendar.
Forward Looking into 2023
Sotheby’s celebrates 50 years in Asia next year: a company milestone that will be marked by a series of extraordinary exhibitions, events and auctions staged across the region. The year-long campaign will include major traveling exhibitions across Hong Kong, Mainland China and Singapore, as well as multiple collaborations with some of Asia’s most celebrated tastemakers, including Hiroshi Fujiwara, hailed the “Godfather of Streetwear”.