The auction calendar is about to get even busier! Phillips is set to expand its presence in Hong Kong with more auctions at its new headquarters in West Kowloon, bringing the world's top art to Hong Kong. artlovers PhillipsAuctions HongKong
Most industry insiders agree that Hong Kong has a more flexible market compared with other Asian cities, in terms of its free-trade status, comprehensive legal system with low corruption, freeport policies, low taxes, and long-established and reliable infrastructure, as well as strategic and convenient location in the center of Asia.
He continued, “In terms of where people put their assets that’s a different story. Singapore is looking very favorable, especially [in comparison] to mainland Chinese, owing to a very similar lifestyle as Hong Kong and also because Mandarin Chinese is spoken as one of the mother tongues.” The Imperial Patek Philippe, which once belonged to Aisin-Giro Puyi, the last Emperor of the Qing dynasty, was unveiled during the opening of Phillips’ new Asia headquarters.Ultimately, it seems that Hong Kong’s positioning as a gateway to the collectors in mainland China is the city’s primary attraction for global auction houses like Phillips.
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