Christie's New Asia Headquarters Signals Ambitious Art Auction Strategy

Christie’s New Asia Headquarters: A Game Changer for Art Auctions

Christie’s has officially launched its new Asia headquarters at The Henderson in Hong Kong, reinforcing its commitment to the flourishing Asia art market. With the opening coinciding with the inaugural art auctions held in-house, CEO Guillaume Cerutti emphasized the significance of the timing and the evolving landscape of the European art market.

Challenges and Opportunities in Art Auctions

During the recent evening sale, a minor bidding hiccup highlighted the complexities associated with coordinating operations across different markets. Cerutti remarked on the need for a more strategic approach as Christie’s Hong Kong transitions to year-round auctions.

• Modern and contemporary art sales are slated for late September, March, and early April.
• October is designated for luxury items, while November will focus on Chinese art.

Global Art Market Trends

With an eye on the US art market, which represents half of Christie’s sales, Cerutti expressed optimism for a resurgence in Europe. He stated, “We hope that with the new building, we will be able to capture more market share in Asia.”

The strategy highlights a balancing act in the evolving art industry, with a focus on adjusting to market demands internationally.