Christie's Hong Kong July Auction fetches $239 mln despite pandemic
Ding Siyue
03:14

From Asian and Western masterpieces to Modern and Contemporary Art, Christie's Hong Kong July Auction came close to fetching 239 million U.S. dollars.

13 world auction records were set, and three works sold for over 100 million Hong Kong dollars (nearly 13 million U.S. dollars).

Due to the pandemic, the number of lots was less than last year, but sell-through rate still managed to hit 88 percent.

Global buyers from 35 countries bid through online channels, many of them millennials.

"We've seen the resilience of the art market, achieving very strong results from all categories," said Fracis Belin, President of Christie's Asia Pacific.

Christie's Hong Kong July Auction. /Christie's

Christie's Hong Kong July Auction. /Christie's

A major highlight was an event called "ONE: A global sale of the 20th century."

Utilizing streaming technology, the first-of-its-kind relay-style auction involved four of the art-world's major hubs: Hong Kong, Paris, London and New York.

More than 20,000 art lovers followed the four hours of sales online. Collectors could bid on the internet, using their phones. In Hong Kong, Paris and London, collectors were able to attend the sale in person, but New York was closed to the public due to social distancing restrictions.

The landmark global sale from four cities came after the delay and cancellation of Christie's spring auctions. The auction house said that even though the pandemic has posed great challenges, it has also forced them to think smarter and form new partnerships.

Utilizing streaming technology, the first-of-its-kind relay-style auction involved four of the art-world's major hubs: Hong Kong, Paris, London and New York. /Christie's

Utilizing streaming technology, the first-of-its-kind relay-style auction involved four of the art-world's major hubs: Hong Kong, Paris, London and New York. /Christie's

"We feel the pandemic is a very unfortunate matter, but it's a great opportunity for us to bring more fluidity across geography, across channels and across categories," said Belin.

Christie's and China Guardian said they will present a themed cooperation project named "2020+" in Shanghai this September. It will involve various exhibitions and auctions.

They say the move is aimed at further expanding the regional market, and to draw in more collectors and art connoisseurs.

Christie's Hong Kong July Auction. /Christie's

Christie's Hong Kong July Auction. /Christie's