2022 in Review: Asia in Focus

2022 Highlights from Asia

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  New Shanghai Headquarters

  Announced in November during Shanghai Art Week, Sotheby’s will open its much-anticipated new Mainland China headquarters in Shanghai in early 2023 as part of the company’s ongoing expansion ambition in the region and testament to its vision of long-term investment in the Chinese market. Helmed by Jean Qian , who was appointed Managing Director, China, at the beginning of the year, the new headquarters in Shanghai will boast a large exhibition gallery and spacious office, set against a glorious view of the Suzhou River waterfront.
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  Spectacular Auction in Singapore

  A monumental milestone of 2022, Sotheby’s held its first auction in Singapore in 15 years of Modern and Contemporary Art achieving a robust SG$24.5 million (US$18 million) – the highest total for any sale held by Sotheby’s in the city-state. “The result surpassed our expectations and underlines the potential for Singapore and the Southeast Asia region as a whole,” said Jasmine Prasetio, Managing Director, Southeast Asia. The sale was led by a rare auction appearance of an oil painting by Walter Spies , and set new auction records for Georgette Chen and Michel Majerus .
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  Vietnam on the Rise

  In July, Sotheby’s mounted its first ever exhibition in Vietnam to great success showcasing more than 50 works by Le Pho, Mai Trung Thu, Le Thi Luv, and Vu Can Dam – four highly regarded Vietnamese masters and early generation graduates from the École des Beaux-Arts de I’Indochine who migrated to France in the early 20th century. Co-curated with independent researcher and writer Ace Lê, “Timeless Souls: Beyond the Voyage” is a testament to the continual commitment of the company to cultivating the Southeast Asian art market.
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  Sotheby’s Sets Foot in Seoul

  Continuing the company’s ambition to expanding its footprint across Asia and commitment to its markets, Jane Yoon joined Sotheby’s in the role of Managing Director, South Korea, to drive the company’s business opportunities in the country’s established but fast growing art and luxury sector and set up Sotheby’s Seoul office.
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  New Leadership for Thailand

  Sotheby’s also saw the new appointment of Kullachat (“Apple”) Charnsethukul as Head of Sotheby’s, Thailand, where she will lead the ongoing development of the company’s activities in the country, succeeding Wannida Saetieo, a Sotheby’s veteran who has been pivotal in the development of Sotheby’s presence in Thailand for more than 20 years and will now take on an advisory role.
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  LEFT TO RIGHT: REGINE NGAN; WENHAO YU AND JOEY LUK

  New Appointments in Luxury

  Following an outstanding record year for Sotheby’s luxury auctions in 2021, January 2022 saw new appointments to the luxury team in Asia – Wenhao Yu as Chairman, Jewellery and Watches, Asia, supported by Regine Ngan who joined shortly before as Head of Department, Jewellery, and Joey Luk promoted to Head of Department, Watches – affirming the strategic priority of the company to take its luxury business in the region from strength to strength.
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  Wine & Spirits Makes Leaps and Bounds

  Wine & Spirits also saw a shuffle in leadership in Asia as the region continues to drive the market accounting for 50% of global sales. George Lacey relocated from Sotheby’s London to Hong Kong to take on the role of Head of Wine, Asia, while Paul Wong assumed a new role as Head of Department, Wine & Spirits, China, to further develop the local clientele and eventually establish local wine and spirits auctions as part of Sotheby’s cross-channel China strategy.
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  Buy Now Expands to Asia

  To celebrate the Asia expansion of Buy Now – Sotheby’s premier digital destination for art and luxury – a two-week exhibition titled “Sotheby’s En Route” was hosted at Pacific House in Central, Hong Kong’s luxury district. The exhibition showcased more than 40 rare and exceptional handbags Hermès handbags, Chanel’s CC In Love Heart Belt Bag, Louis Vuitton Artycapucine, and more. Catering to a new cross-collecting era, the expansion of Sotheby’s Buy Now in Asia responds to the increasingly sophisticated purchasing habits and tastes of collectors in the region, of which account for 40% of the global spend at Sotheby’s core luxury auctions, demonstrative that collectors from Asia continue to be a strong force in Sotheby’s global business.