In the epicentre of Hong Kong, a city synonymous with luxury and commerce, legendary auctioneer Christie’s has established its new Asia-Pacific headquarters at The Henderson. This monumental move not only signifies the auction house’s commitment to the region but also reflects a broader trend in the art market, one that is increasingly influenced by Asian collectors and their growing appetite for fine art. Francis Belin, president of Christie’s Asia-Pacific, recently shared insights into this strategic transition in an exclusive interview with Robb Report Hong Kong and what it means for the future of art auctions in Asia.
The decision to relocate to The Henderson, a whopping 50,000 square feet of gallery and exhibition space with high-ceilings and an open, versatile real estate with movable walls and smart lighting, is rooted in Christie’s recognition of the burgeoning market for art in Asia.
“This is the new crown jewel of Christie’s globally,” Belin says, highlighting the importance of a dedicated space in Asia-Pacific that mirrors the established auction houses in London, New York, and Paris. Christie’s new regional headquarters are designed not just for auctions and sales, but to host a year-round programme of exhibitions and events aimed at engaging a variety of collectors and fostering a deeper appreciation for art. It’s the marriage of commerce and community that the city has been missing among art and culture.
Hong Kong’s unique position as a hub for art, watches, jewellery, vintage porcelain, bags, accessories, and just about anything under the vast umbrella of the term “luxury transactions” cannot be overstated. Belin notes that approximately 80 per cent of the value transacted by collectors in Asia originates from the Greater China region, and this demographic shift has positioned Hong Kong as the focal point for operations in Asia, allowing the auction house to engage directly with its clientele and cultivate relationships that transcend mere transactions.
Belin’s journey into the art world is particularly fascinating. Despite not having a formal education in art, his upbringing in a family of collectors instilled in him a profound appreciation for beautiful objects. His academic background in business and psychology has equipped him with the skills necessary to navigate the complexities of the luxury art market.
“Collecting is not merely about wealth preservation; it is about finding one’s identity and emotional connection to objects,” he explains. Belin’s philosophy resonates deeply in a market where emotional engagement often drives purchasing decisions. He emphasises the importance of understanding the stories behind the artworks—stories that add layers of meaning and value beyond the palette and their monetary worth. In an era where art is increasingly seen as an asset class, this focus on narrative and provenance is crucial for collectors seeking to make informed decisions, he explains.
Christie’s new headquarters are not just a local endeavour; it is part of a wider global strategy. With offices spanning Mumbai to Tokyo, Christie’s is interconnected with its international counterparts, allowing for a seamless exchange of information and expertise. As Belin notes, this interconnectedness is essential, with a significant portion of the value sold in Hong Kong being purchased by international clients. The global nature of the art market also means that Hong Kong auctions are often a melting pot of cultures and influences, creating a unique atmosphere that distinguishes them from sales in New York or London. Belin highlighted the importance of having a team of specialists on the ground who are attuned to local tastes while remaining connected to global trends. This dual approach enables Christie’s to curate auctions that resonate with both local and international collectors.
Describing the atmosphere at a Christie’s auction, Belin conveys a sense of excitement that permeates the room. “Christie’s is a very unique place,” he states as we walk by a library of rare art books, “where the essence of eternity meets the fast-paced world of commerce.” Each auction is an emotional journey, not just for the bidders but for the specialists and staff who curate these exceptional collections. The thrill of witnessing a piece of art change hands often transcends the financial aspects, creating a bond between the collector and the artwork.
Belin recounts a particularly memorable auction, where the price of a piece soared dramatically in the final minutes, illustrating the unpredictable nature of the volatile market. Such moments underscore the exhilarating blend of strategy and emotion that defines the auction experience, which must be witnessed in person for the palpable tension. Just look at how Christie’s first auction in its new home skyrocketed past the billion-dollar mark.
Looking ahead, Belin is optimistic about the future of art collecting in Asia. He believes that as collectors become more sophisticated, their interests will evolve, leading to a broader appreciation for various forms of art, including contemporary pieces and lesser-known artists. “There’s a wealth of talent in the region that is yet to be fully recognised,” he says, pointing to the potential for Asian artists to gain prominence on the global stage. “The interest is there; it is gaining momentum.” Moreover, the integration of technology in the auction process is set to transform how collectors engage with art. Online platforms and virtual previews have made it easier for a broader audience to access the auction experience, democratising the art market to some extent. Belin views this evolution as an opportunity to reach new collectors, particularly younger generations who are more comfortable with digital mediums.
When discussing luxury, Belin offers a nuanced perspective that goes beyond mere opulence. For him, luxury is intrinsically linked to beauty and emotional connection. “It’s not just about rarity or exclusivity,” he explained. “True luxury is about the experiences and emotions that objects evoke.” This philosophy is evident in Christie’s offerings, where each piece carries its own narrative, inviting collectors to become custodians of history.
Belin’s vision for Christie’s in Asia is one of growth, connection, and emotional engagement. As the art market continues to evolve, Christie’s stands poised to embrace these changes, fostering a deeper appreciation for art in a region that is rapidly becoming a powerhouse of collecting. The new headquarters are not just a testament to Christie’s commitment to Asia, but a beacon of the vibrant future that lies ahead for the art world in the region.
Original images by Chris Yau, shot exclusively for Robb Report Hong Kong.
