Bidding on the future of Asia’s auction market and capping off a year of growing sales, the London-based auction house Bonhams recently unveiled an Asian headquarters at Hong Kong’s Six Pacific Place, a new office tower developed by Swire Properties.
Spanning over 19,000 square feet and three floors, Bonhams’ new premises feature flexible gallery space alongside a permanent salesroom, all designed to ensure a client experience on par with the auction house’s other major selling centers in London, Paris and New York.
More from WWD
-
Chanel Lands in Hong Kong With Penélope Cruz, Angèle, Chow Yun Fat, Fala Chen and More
-
Chanel Creates Immersive Experience Around Replica Cruise Show in Hong Kong
-
With New Owner, Frette CEO Targets 279M Euros in Sales, Double Store Network by 2029
“We wanted to illustrate our continuous commitment to the region by continuing to invest in Hong Kong,” said Chabi Nouri, Bonhams’ global chief executive officer. “We wanted to create a really balanced universe where you have all the experts and the people around it. It’s where we can accompany our clients and our vendors throughout the Bonhams journey.”
The expansive and brightly lit space will be inaugurated with Bonhams’ fall sales series that includes rare Ming dynasty furniture, works by the renowned Chinese painter Zhang Daqian, rare and collectible Birkins, a Felipe Massa Yellow Storm Richard Mille, rare whisky and spirits, and more. Auctions will run from Wednesday to Dec. 3.
The headline auction, “Feast by a Table Reclining on a Couch: The Dr. Shing-Yiu Yip Collection of Classic Chinese Furniture,” will take place on Wednesday. “It is three decades of collecting Ming Dynasty furniture, and we’re very proud of it,” said Nouri.
Bonhams entered the Hong Kong market in 2007. In 2014, it opened its first dedicated salesroom in Admiralty. During its spring auctions season in Hong Kong, Bonhams said it achieved a 33 percent year-over-year increase to 270 million Hong Kong dollars, or $34.7 million.
Founded in 1793, Bonhams is one of the four original Georgian London auction houses. It is owned by Epiris, the U.K.-based private equity company, and has 14 salesrooms across the globe, selling items in more than 60 collecting categories.
Alongside recent Hong Kong real estate upgrades at Christie’s, Sotheby’s and Phillips, Bonhams became the latest auction house to upgrade its salesroom in the city, which makes clear the rising importance of the Asian auction market despite broader economic woes.
In order to serve the region’s younger and particularly tech-savvy clientele, both Sotheby’s and Christie’s now operate accounts on Douyin, the Chinese equivalent of TikTok in China. But for Bonhams, unlocking new demand in Asia involves staying true to its expertise, which is sourcing exceptional pieces, often at more accessible price points, to serve collectors.