Phillips Auctioneers moves its Asia headquarters to the West Kowloon Cultural District

Renowned international auction house, Phillips Auctioneers Ltd, has announced that it will be moving to a new premium regional headquarters in the West Kowloon Cultural District Tower within this month, in what signifies its major commitment to Hong Kong’s hub status amid a fast growing art market in the region.

The new headquarters, which spans over 52,000 square feet across six floors, will open for business in phases beginning on 18 March 2023. It comprises a permanent purpose-built exhibition space, saleroom, café and VIP lounge, allowing the company to hold sales or exhibitions throughout the year, according to Chairman, Asia, Mr Jonathan Crockett.

Phillips Auctioneers held its first auction in Hong Kong in December 2015 and has since become a key operator in the market. Mr Crockett said that the company continues to see significant growth in Asia year on year with 34% of global auction sales accounted for by buyers in Asia in 2022. This continuous strong Asian growth underlies the decision to expand its Hong Kong operation.

He said, “Unlike many of its international counterparts, Hong Kong serves not just the local art community, but italso acts as the main pan-Asian hub for the trade in art. Dealers, galleries and auction houses in Hong Kong have long served the art collecting community both here and across the region. Hong Kong is home to international galleries, auction houses and art fairs. And it is now home to world- class museums such as M+ and the Hong Kong Palace Museum, on our doorstep, in the West Kowloon Cultural District.”

He added, “Hong Kong has a more open market compared with other Asian cities, if you take into consideration its free trade status, comprehensive legal system with low corruption, free port policies, low tax, long established and reliable infrastructure, and its strategic and convenient location in the centre of Asia, on the doorstep of the Mainland China. All of these factors are why we continue to reinforce our commitment to the city.”

Associate Director-General of Investment Promotion, Dr Jimmy Chiang, said, "The Hong Kong Special Administrative Region Government is committed to establishing Hong Kong as one of the most vibrant arts and cultural hubs in the world. The city has one of the world’s most efficient transport and logistics networks, a world-class international airport, and one of the world’s busiest container ports. Its professional service providers are equipped with extensive knowledge and experience in handling artworks. It is the ideal place for Phillips Auctioneers to spread its regional coverage."

About Phillips Auctioneers Ltd

Phillips Auctioneers is a leading global platform for buying and selling 20th and 21st century art and design. With dedicated expertise in the areas of 20th Century and Contemporary Art, Design, Photographs, Editions, Watches, and Jewelry, Phillips offers professional services and advice on all aspects of collecting. Auctions and exhibitions are held at salerooms in New York, London, Geneva, and Hong Kong, while clients are further served through representative offices based throughout Europe, the United States and Asia. Phillips also offers an online auction platform accessible anywhere in the world. In addition to providing selling and buying opportunities through auction, Phillips brokers private sales and offers assistance with appraisals, valuations, and other financial services. For more information, please visit https://www.phillips.com/.

About InvestHK

InvestHK is the department of the Hong Kong Special Administrative Region Government responsible for attracting foreign direct investment and supporting overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services for overseas and Mainland companies. For more information, please visit www.investhk.gov.hk.

For photos, please visit www.flickr.com/photos/investhk/albums/72177720306405073.

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