HONG KONG – WEBWIRE – Tuesday, November 28, 2023
MARKING A DECADE OF ASIA PACIFIC MARKET LEADERSHIP
Hong Kong Autumn Auction Sale Total
HK$55 million / US$7 million
94% Sold by Lot
115% Hammer Against Low Estimate
More Than Half of Lots Sold Over High Estimate
Christies proudly marks a decade of market leadership for Handbags & Accessories in Asia Pacific with a 2023 annual sale total of HK$154 million / US$20 million, the highest ever for the category globally. Through its meticulous sale curations in Asia, featuring the most iconic and coveted designs from renowned maisons, Christies is consistently presenting exciting and unique collecting opportunities for fashion lovers worldwide.
This record annual sale total was realised on 25 November 2023, after Christies Handbags & Accessories live auction in Hong Kong reached HK$54,986,400 (US$7,086,983), and was 94% sold by lot, achieving a hammer price 115% against the low estimate. Many of the sensational handbags presented exceeded expectations and over half of lots sold above their high estimates. The category continues to draw in new and younger buyers to Christies as well as significant digital engagement 28% of the buyers were new, millennials accounted for over 70% of new buyers, and more than 40% of collectors acquired pieces through online bidding. The sale attracted global participation from 24 countries across 4 continents.
About Christies
Founded in 1766, Christies is a world-leading art and luxury business with a physical presence in 46 countriesthroughout the Americas, Europe, Middle East, and Asia Pacific, andflagshipinternational sales hubsinNew York, London, Hong Kong, Paris and Geneva. Renowned and trusted for our expert live and online-onlyauctions, as well as bespokePrivate Sales,Christies unparalleled network of specialists offers our clients a full portfolio ofglobal services, including art appraisal, art financing, international real estate and education. Christiesauctionsspan more than80 art and luxury categories, at price points ranging from$500toover $100 million.Christies has sold 8 of the 10 most important single-owner collections inhistory, achieved the world record price for an artwork at auction, launched thefirstfully on-chain auction platformdedicated to exceptional NFT artand managesan investment fundto support innovative startups in the art market. Christies is also committed to advancingresponsible culturethroughout its business and communities worldwide.Tolearn more, browse, bid,discover, and join us for the best of art and luxury atchristies.comor by downloading Christies apps.
* Please note when quoting estimates above that other fees will apply in addition to the hammer price – see Section D of the Conditions of Sale at the back of the sale catalogue.*Estimates do not include buyers premium. Sales totals are hammer price plus buyers premium.