Top auction houses Sotheby's, Christie's, and Bonhams expand in Hong Kong during pandemic-induced art market slump, targeting young Asian buyers.

Top auction houses Sotheby's, Christie's and Bonhams expand in Hong Kong amid pandemic-induced art market slump. Aiming to attract young Asian buyers, they're upgrading regional headquarters, focusing on sales under $1.3m and showroom auctions, and adapting to digital platforms. Despite pandemic challenges, they believe Hong Kong's strategic location, logistics, and legal frameworks make it ideal for tapping into other Asian cities.