The Collector | Sotheby’s stays upbeat amid global slowdown and turmoil in Hong Kong
An 18th century Qing dynasty glass vase estimated to be worth US$25 million is up for grabs, among other items, in Sotheby’s’ October sales, but as the Asian auction season rolls around, will buyers be willing to open their wallets?
According to Kevin Ching Sau-hong, chief executive of Sotheby’s Asia, additional phone lines will be installed in the sales rooms to cater to an increase in remote bidding. Other than that, he hopes it will all be business as usual.
“Every season there are different policies and factors that might affect buying sentiments and decisions, including the macroeconomic environment, economic growth and market expectation, among others,” he says. “Many of them have been in place for some time, yet we haven’t seen any major impact on our business.”
Sotheby’s Hong Kong spring auctions took in HK$3.8 billion (US$485 million) in total, the second highest level since 2013.
