Sotheby's unveils showrooms as auction houses bid high on Hong Kong

Auction house Sotheby's unveils showrooms at an upscale mall in Hong Kong's finance district, a two-storey space. Three of the world's top auction houses are racing to expand in Hong Kong, eager to woo young Asian buyers even as the global art market retreats from pandemic-era highs.

In the span of two months, Sotheby's, Christie's and Bonhams will each see the culmination of years-long efforts to upgrade their regional headquarters in the southern Chinese city. Hong Kong's biggest auctions of the year are held every spring and autumn at the city's convention and exhibition centre -- an intense four months that build hype and draw visitors. With new in-house venues, events will be more spread out.