Christie's and Sotheby's plan to expand in Hong Kong with new spaces in 2022, aiming to boost sales in 2024.

Major auction houses Christie's and Sotheby's plan to open new spaces in Hong Kong, with Christie's set to open a 50,000 sq ft headquarters at The Henderson in September, and Sotheby's opening a 24,000 sq ft space at Landmark Chater in July. The companies hope these expansions will boost sales in 2024, amid increased interest in the art market from a new generation of culturally astute millennials and younger people in Asia.