Christie's and Sotheby's held competitive auctions in Hong Kong for the first time during the Art Basel fair, generating higher energy in the salerooms. Both auction houses recorded lower sales than previous events but achieved totals within estimates, indicating ongoing interest from collectors, particularly from China. The strategic timing led to increased in-person bids and lively participation. Christie's presented a luxurious atmosphere, while Sotheby's opted for a more accessible approach. This contrast in presentation style highlighted the auction houses' different market strategies amid evolving collector behavior.
Overall though, the sales felt more grounded, with depth of bidding particularly evident at Sotheby's, where buyers seemed more confident at lower price levels.
Christie's led the field on 28 March, offering 41 lots for HK$457.3m (HK$560m with fees), with two works withdrawn and including two unsold.
The new timing meant more in-person bidding and increased activity all round, said the auctioneers at each sale, Adrien Meyer at Christie's and Alexander Branczik at Sotheby's.
At Christie's, all is hushed elegance among the corporate white orchids of the Henderson Building, with spectacular city views for those who are in the know.
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