HONG KONG.- Christie’s Luxury auctions in Hong Kong from 25-27 May, spanning handbags, watches, and jewellery, achieved a running sale total of HK$722,729,720 / US$92,991,248, with a hammer price 127% of the pre-sale low estimate. Collectors from 44 countries and 6 continents responded to the sales’ meticulous curations and astute pricing, driving the running sell-through rate to 92% by lot and close to half of lots selling above high estimates. There was intense bidding in the saleroom, on the telephone, and online for luxury masterpieces at the highest value level – from the "Cartier "India" Tutti-Frutti" necklace (HK$67,775,000 / US$8,720,386) to the Patek Philippe ref 2523J (HK$65,475,000 / US$8,424,452). Luxury continues to be a key gateway to collecting for new, younger, and tech savvy buyers – 52% of new buyers were millennials and 42% of buyers bought online.

The sales spectacularly commenced Christie’s finale season at the Hong Kong Convention and Exhibition Centre, ahead of the auction house’s relocation of its Asia Pacific headquarters to The Henderson building this September.

CHRISTIE’S HONG KONG | LUXURY AUCTIONS OVERVIEW

Handbags & Accessories | 25 May
Spring Live Sale Total: HK$46,119,780 / US$5,934,080

• Expert sale curation resulted in 95% sold by lot, 117% hammer over low estimate

Highest Ever and Market Leading First Half Running Total in Asia: HK$72,228,870 / US$9,293,450

• Reaffirming Christie’s market leading track-record in Asia for exquisite handbags and accessories

On 25 May, Christie’s Hong Kong continued its decade-long market leadership in Handbags & Accessories with a live auction which realised HK$46,119,780 / US$5,934,080, driving the category to the highest ever first half running total in Asia of HK$72,228,870 / US$9,293,450. There was passionate bidding for a lineup of 34 unique Hermès Mini Kelly bags which were 100% sold, and the top lot of the sale was the highly coveted Himalaya Kelly 25 with diamonds, which realised HK$2,394,000 / US$308,028. A new generation of buyers continue to be enticed by the category – millennials accounted for 40% of all buyers in the sale.

Watches | 26 May
Spring Live Sale Total: HK$206,291,340 / US$26,542,826

• Quality selection resulted in 92% sold by lot, 128% hammer over low estimate
• Single-owner collections ‘The Generations Collection’ and ‘Timeless Opulence’: 100% sold

Market-Leading First Half Running Total in Asia: HK$222,452,730 / US$28,622,259

On 26 May, Christie’s Hong Kong attained a significant lead in the Watches market with the Important Watches live sale which achieved a total of HK$206,291,340 / US$26,542,826, and 128% hammer over the pre-sale low estimate, reflecting the quality and appeal of the timepieces presented. The auction’s headliner was the rare and prestigious Patek Philippe reference 2523J, which reached HK$65,475,000 / US$8,424,452 after intense bidding. The category is a gateway for younger buyers and attracted substantial digital engagement – millennials accounted for 55% of all new buyers, and 55% of collectors bought via online bidding. Both ‘The Generations Collection’ and ‘Timeless Opulence’ were 100% sold, as Christie’s continues to be the auction house of reference for renowned single-owner collections.

Jewellery | 27 May
Spring Live Sale Total: HK$476,215,400 / US$61,273,064

• Outstanding 127% hammer price achieved against the pre-sale estimate
• Market-Leading First Half Running Total in Asia: HK$495,836,120 / US$63,797,597

On 27 May, the Magnificent Jewels live sale at Christie’s Hong Kong totalled a market-leading HK$470,318,600 / US$60,514,342 and was almost 90% sold by lot, attesting to the global appetite for exquisite jewellery and gemstones. Almost 50% of lots sold over high estimate, driven by very lively participation from collectors in the saleroom, on the telephones, and online. Highlights include a unique “Cartier “India” Tutti-Frutti” necklace, which realised a phenomenal HK$67,775,000 / US$8,720,386 after over 10 minutes of competitive bidding, and a superb ruby and diamond ring, which soared to HK$49,985,000 / US$6,431,405, more than tripling its pre-sale estimate.