“2023 will be a milestone year in Sotheby’s history as we celebrate our 50 years in Asia. The opening of our new Shanghai Headquarters marks the development of our ongoing expansion ambition in the region and, most of all, our commitment to the future growth of Greater China.”
Nathan Drahi, Managing Director, Sotheby's Asia
Testament to its commitment to growing opportunities across Asia, the opening of Sotheby’s new Mainland China headquarters in Shanghai follows a string of ongoing initiatives that tallies with the company’s broader approach of meeting clients wherever they are, while expanding on new offerings and cross-sales channels that cater to a new generation of collectors in the region.
Reflecting Shanghai's growing art and cultural scene, the new headquarters will form a ‘Sotheby’s collecting space’ to help foster a new collecting experience within the local community. Opening early next year to coincide with Sotheby’s 50th anniversary in Asia, the new space will boast a large exhibition gallery alongside a spacious office, and a magnificent view of the Suzhou River waterfront that runs through the heart of the city. The opening of Sotheby’s new headquarters in Shanghai is also testament to the company’s vision of long-term investment in the Chinese market.
Last week, Sotheby’s returned to the China International Import Expo (CIIE), a major platform for art and culture, with an exhibition space five times larger than the previous year. In the future, Sotheby’s will further expand within Mainland China through local auctions and the introduction of new collecting channels to cater to a new generation of collectors.
Sotheby’s expansion in Asia has played out against the backdrop of continued solid results in Hong Kong, including a record-setting year in 2021, the second highest total in company history for a Spring sales series (April 2022) and most recently the highest total for an Autumn sales series in four years. Looking more broadly, Asian collectors remain a strong force in Sotheby’s global sales, accounting for over a quarter of all bids by value so far this year. Overall, the Mainland China art market saw a total sales value increase of 30% year on year, achieving US.7.4billion in 2021.
Nathan Drahi, Managing Director, Sotheby's Asia
Testament to its commitment to growing opportunities across Asia, the opening of Sotheby’s new Mainland China headquarters in Shanghai follows a string of ongoing initiatives that tallies with the company’s broader approach of meeting clients wherever they are, while expanding on new offerings and cross-sales channels that cater to a new generation of collectors in the region.
Reflecting Shanghai's growing art and cultural scene, the new headquarters will form a ‘Sotheby’s collecting space’ to help foster a new collecting experience within the local community. Opening early next year to coincide with Sotheby’s 50th anniversary in Asia, the new space will boast a large exhibition gallery alongside a spacious office, and a magnificent view of the Suzhou River waterfront that runs through the heart of the city. The opening of Sotheby’s new headquarters in Shanghai is also testament to the company’s vision of long-term investment in the Chinese market.
Last week, Sotheby’s returned to the China International Import Expo (CIIE), a major platform for art and culture, with an exhibition space five times larger than the previous year. In the future, Sotheby’s will further expand within Mainland China through local auctions and the introduction of new collecting channels to cater to a new generation of collectors.
Sotheby’s expansion in Asia has played out against the backdrop of continued solid results in Hong Kong, including a record-setting year in 2021, the second highest total in company history for a Spring sales series (April 2022) and most recently the highest total for an Autumn sales series in four years. Looking more broadly, Asian collectors remain a strong force in Sotheby’s global sales, accounting for over a quarter of all bids by value so far this year. Overall, the Mainland China art market saw a total sales value increase of 30% year on year, achieving US.7.4billion in 2021.
