Staggering figures were attained but the real surprise was how many vintage pieces found new homes among the new generation.
Late last month, Christie’s concluded its Spring Luxury Week in Hong Kong, achieving remarkable results across various categories, including jewellery, watches, wine, and handbags—and the sale of a Kashmiri sapphire we had our eyes on earlier. Spring Luxury Week culminated in total sales of HK$725 million, with an impressive 95 per cent sell-through rate by lot and a hammer price exceeding the low estimate by 111 per cent.
Christie’s continues to lead the luxury auction sector in Asia, successfully selling eight of the 10 most expensive lots this season, and the auction house’s ability to attract a diverse range of buyers is evident, with 22 per cent of participants being new to their sales—an increase of 19 per cent from spring 2024. Notably, nearly half of these new buyers belong to the Millennial generation or younger, indicating a significant shift in the demographics of luxury collectors, which have traditionally leaned towards a more mature age-bracket.
Read the entire feature here at Robb Report Hong Kong.
