Hong Kong to Compete with London and New York in Auctions

Hong Kong has begun to become one of the world’s most important art centres, and it is no big surprise that many events are being held to promote the city so that it can compete with cities like New York and London. In fact, there would be a number of auctions that would feature everything from high-end goods from fine wine to Imperial Chinese ceramics. The idea is to attract China’s growing millionaires who have the money to throw around. Christie’s is holding an auction which would feature a rare Patek Philippe watch.

It expects to rake in more than $308 million in the auction. Sotheby’s is not far behind either and they would feature paintings by Chinese artist Chang Dai-chien and they expect to make HK$130 million. Bonhams too would join the gang and try to make HK$38.3 million with Chinese snuff bottles.

The big money however would start rolling in once Christie’s comes to picture. Hong Kong is soon going to be the centre of luxury and art, and it is going to be a great way to celebrate the rising affluence of the Chinese. Hong Kong is a former British colony, and it is an autonomous region within Mainland China. However, Chinese rules are beginning to throttle local economy but the government plans to rake in money from the Chinese themselves. You could also read about Christmas in Hong Kong, Lady Gaga’s Urinal in Hong Kong which is an artwork, and also the auction at Gold Coast.

Via: google

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