CHRISTIE’S HONG KONG CELEBRATES 20 YEARS OF SUCCESS A History of Unmatched Excellence as Sales Exceed HK$2.07 billion/US$267 million
Reaching 57% Market Share, 12th Consecutive Year of Leadership in Asia
Kong in 1994, became a stand-alone sale category in 1998. With an
incomparably in-depth understanding of the Asian market, Christie’s Hong Kong has rapidly developed into a
saleroom for the most sought-after modern and contemporary timepieces, and an undoubted market leader in
A very rare limited edition platinum minute repeating watch ref. 5029 by Patek Philippe realized US$539,760 in
May 2005, which still stands today as the most expensive modern wristwatch made by Patek Philippe ever sold
in a worldwide auction.
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The company is also the pioneer in introducing “Chinese Market Watches”, the timepieces made predominantly
from 18th Century through to 19th Century, to the auction market in Asia. Of particular note, an exceptional pair
of gold and enamel snuff bottles with concealed and triple complicated automata with watch, circa 1920, sold for
US$539,760 in May 2005.
VENTURES IN ASIA
Christie’s pro-active endeavours in Asia date back to the 1970s. Foreseeing the enormous potential of the
emerging auction market in the region, offices were established in major cities including Tokyo (1973), Hong
Kong (1985), Taipei (1991), Singapore (1992), Seoul (1995) and Bangkok (1999). In 1994, Christie's became the
first international auction house to open an office in mainland China by inaugurating the representative office in
Shanghai. Christie’s network in Asia was further expanded with the appointment of representatives in Beijing
(1996), Jakarta (1996) and Kuala Lumpur (1997). Christie’s representative office in Mumbai was re-launched in
September 2005 as the company became the only international auction house with a full-time representative
based in India.
In May 2005, Christie’s Hong Kong moved the pre-sale exhibition and saleroom to the world-renowned Hong
Kong Convention and Exhibition Centre, another milestone in auction history. The new viewing space was four
times larger, and exceptional works were shown to their best advantage in a setting tailor-made for Christie’s.
This ground-breaking move has since been highly acclaimed by the industry and clients worldwide.
Christie’s is also the first foreign auctioneer to license its brand to domestic auction businesses in mainland
China. Through an innovative licensing arrangement with Forever International Auction Company Ltd.,
Christie’s first branded sale in Beijing was held on 3 November, 2005. The sale, conducted in Mandarin, realized
a total of over US$12.1 million.
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