HONG KONG, July 27 — British auction house Christie’s said today it plans to expand its physical presence in Hong Kong by 2024 with galleries and salerooms more than four times larger than it currently has, betting on a growing art market in the finance hub and in Asia.
“It’s hard for us to extend the sales because we don’t have the real estate to do so,” Belin said. Christie’s currently has to rent outside venues to hold large auctions and exhibitions. In the first half of 2021, Asia accounted for a record 39 per cent, or over US$1 billion, of global sales, up from 20-25 per cent pre-pandemic, surpassing Europe and North America.
Belin said the expansion would not lead to aggressive hiring in addition to their 200 staff in Hong Kong. Christie’s is also looking for bigger space to relocate in Shanghai.
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