With New Hong Kong Gallery, Sotheby's Digs In For The Long Haul

State-Of-The Art Space To Open Doors On May 19 As it conducts its spring auction series in Hong Kong, Sotheby's has announced plans to open the doors of a new 15,000 square foot permanent exhibition space in the city on May 19. Upon the grand opening, Sotheby's will celebrate with a string of exhibitions running through the end of May, coinciding with a range of cultural events slated to hit Hong Kong throughout the month. Taking over the entire fifth floor of One Pacific Place, the massive space will become a sort of HQ for the global auction house to expand its presence in Asia beyond its current biannual auction series in April and October. Heartened by the massive growth seen in the Asian art and auction markets since 2009, the new Sotheby's space in Hong Kong will be used for everything from hosting regular auctions to exhibitions, lectures, special events and other cultural programs throughout the year. Upon the launch of the new space, Sotheby's will hold two major selling exhibitions -- Yayoi Kusama's "Hong Kong Blooms in My Mind" and "Modern Masters: Corot to Monet – French Landscape Painting In The Nineteenth And Twentieth Centuries." Additionally, previews will be held in the space of Sotheby’s London June Sales of Impressionist & Modern and Contemporary Art. Kevin Ching, Chief Executive Officer of Sotheby’s Asia, noted, "With these events, together with the previews of Sotheby’s London June Sales of Impressionist & Modern and Contemporary Art, we strive to nurture and cater to the collecting tastes of our clients in the region as we accompany them along their collecting journey.” As Jing Daily pointed out last month, interest in non-Chinese art is growing among budding collectors in the Greater China region, though their buying continues to lean strongly towards Chinese art and antiques. As Bill Ruprecht, President and Chief Executive Officer of Sotheby’s, said this weekend, “We conceived of Sotheby’s Hong Kong Gallery in response to the exponential growth of our business in Asia in recent years which last year reached US$1 billion for the first time.” Ruprecht added that this is only the "first of many developments" that the auction house is planning in the region, particularly in China, to meet the needs of a growing client base. In an attempt to tap not only the growing regional appetite for art and antiques but also jewelry, the new gallery will also feature a permanent salon for Sotheby's Diamonds, a partnership between the auction house and the Steinmetz Diamond Group. Designed by project architects Richards Basmajian -- who recently refurbished Hong Kong's Maritime Museum and a number of Louis Vuitton boutiques in the city -- the Sotheby's Diamonds salon will give buyers the chance to purchase directly from the collection all year long.

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With New Hong Kong Gallery, Sotheby's Digs In For The Long Haul