SOTHEBY’S HONG KONG SPRING 2020 SALES SERIES
TOTALS HK$3.22 BILLION / US$411 MILLION
7TH-CONSECUTIVE HONG KONG SEASON
TO EXCEED US$400 MILLION
SOTHEBY’S REINFORCES ITS POSITION AS UNDISPUTED MARKET LEADER ACROSS ALL CATEGORIES IN ASIA
3,794 LOTS SOLD ACROSS 17 AUCTIONS IN 7 DAYS
EXCEPTIONAL SELL-THROUGH RATE: 88% SOLD BY LOT
5 WORKS SELL FOR OVER HK$100 MILLION (US$12 MILLION)
16 WORLD AUCTION RECORDS
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GLOBAL PARTICIPATION FROM NEARLY 40 COUNTRIES
90% OF LOTS BOUGHT OVER THE PHONE, VIA ONLINE AND ABSENTEE BIDS
ALMOST 20% ARE NEW BUYERS
25% OF BUYERS AGED UNDER 40
Hong Kong, 13 July 2020 – Kevin Ching, CEO of Sotheby’s Asia, said: “Hot on the heels of our ground-breaking live-streamed flagship New York sales that demonstrated the market to be vibrant and well, our rescheduled Spring sales in Hong Kong produced robust results and exceptional performance across all categories. This is a true testament to Sotheby’s market leading position in Asia for five consecutive seasons.”
Patti Wong, Chairman of Sotheby’s Asia, said: “Our highly successful sales series in Hong Kong once again demonstrates the resilience of the Asian market. Undeterred by travel bans, our clients enthusiastically participated through different channels. The pent-up demand and appetite for top quality materials were abundantly apparent. Sotheby’s first-rate sourcing, world-class curation, and intuitive understanding of the market, is our winning formula to produce such stellar results.”
Nicolas Chow, Chairman of Sotheby’s Asia, commented: “Finding ourselves up against the challenges of an unprecedented backdrop, we quickly adapted and evolved to connect with and serve our clients in ever more effective ways – with enhanced e-catalogues, videos, live-streaming and social media, transcending global and physical boundaries.”