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Hong Kong Auction Houses: History, Digitalization, Prominent Players | Green Auctioneers

香港钟表拍卖行:历史、电子化、参与者 | 古艺拍卖(全英)

Explore the growth of auction houses in Hong Kong, from their history to technology integration. Discover prominent watch auction houses and showcase the remarkable watches auction event of Green Auctioneers.

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In recent years, the auction house industry in Hong Kong has witnessed tremendous growth and success. Hong Kong has been undoubtedly a hotspot for auctions due to its strategic location and vibrant economy, attracting both domestic and foreign bidders. 
In this article, we will explore the fascinating world of auction houses in Hong Kong, showcasing their historical background, major players with various watch auctions conducted, and delve into the unique offerings of Green Auctioneers, specializing in ladies’ watches, pocket watches, and vintage timepieces.

Hong Kong Auction House’s History

The Hong Kong auction house sector has a rich history and has witnessed remarkable transformations over the years. From its beginnings as a tiny market to becoming a global auction hub, Hong Kong has emerged as a prominent destination for art, collectibles, and luxury goods auctions. 

The roots of the auction industry in Hong Kong can be traced back to the early 20th century. Initially, auctions were primarily concentrated on Chinese antiques and art. During the 1970s, prominent international auction houses like Sotheby’s and Christie’s strategically established branch offices in Hong Kong to position the city as a pivotal hub within the global market for Chinese art. Prior to the emergence of a dynamic auction scene, the trade of Chinese art and objects was primarily facilitated by established galleries, antique dealers, and bookstores owned by esteemed local connoisseurs. 

Hong Kong Auction for Chinese Art in the 1980s

Sotheby’s groundbreaking auction of Chinese art in 1980-81 marked the onset of their renowned single-owner sales in Hong Kong, capturing unprecedented worldwide interest. At the forefront of this milestone event was the exceptional collection of Edward T. Chow, which shattered records and solidified its status as an extraordinary provenance. The Edward T. Chow Collection stands as a highly sought-after provenance, embodying the pinnacle of desirability for collectors seeking a treasured piece of Chinese art.

Hong Kong Auction for Chinese Art in the 1980s

Recognized as an eminent authority in the realm of Chinese ceramics, Edward T. Chow (1910–1980) is celebrated as one of the foremost connoisseurs. (Source: Sotheby’s Official Website)

But then, auctions’ diversity further expanded when we gained an international reputation continuously. Today, Hong Kong hosts a diverse variety of auctions, including art, jewelry, watches, wine, and property. Live auctions, sealed bid auctions, and online auctions have all played a role in the industry’s evolution.

Digitalization of Hong Kong Auctions

In the ever-evolving auction industry in Hong Kong, the digitalization of auctions has certainly played a transformative role. Online bidding platforms and virtual auctions have now emerged as key components of this digital landscape. 

In a Hong Kong-based online sale of watches in 2021, it was revealed that 35% of the bidders were new buyers. This situation aligns with the global trend, as evidenced by the substantial growth of the online auction industry in the United States, where the market experienced a remarkable 12.1% annual increase from 2016 to 2021. This surge in popularity reflects the increasing preference for the convenience and accessibility offered by online bidding, marking a significant development in the auction landscape.

This technological integration has revolutionized the way auctions are conducted. Live auctions offer a unique atmosphere and the opportunity for bidders to physically experience the excitement, while online auctions provide convenience and accessibility. This digital transformation has expanded the possibilities of auctions, making them more accessible and inclusive for both buyers and sellers.

Moreover, the active participation of younger bidders in auctions is evident as they display a more open-minded approach and enthusiasm for investing in various forms of digital art, such as immersive virtual reality experiences, digital paintings, and NFTs. The affordability and accessibility of online platforms and digital marketplaces have also played a significant role in attracting younger bidders, enabling them to engage in auctions from the comfort of their own homes. 

Phillips Online Auction “Jewels: Online Auction”

The temptation of online luxury auctions has grown so strong during the epidemic age that even Phillips, a firm advocate for the timeless allure of live auctions, is now hosting dedicated digital sales more frequently.

Phillips Online Auction “Jewels: Online Auction”

Phillips has regularly held online auctions for Jewelry luxuries in Hong Kong, named “Jewels: Online Auction” since 2021. The Van Cleef & Arpels ‘Magic Alhambra’ long necklace sold for HK$138,600 incl. buyer’s premium (Estimate: HK$65,000 – HK$95,000) in the 2022 online auction event. (Source: Phillips’ Official Website)

Jewelry and Watch Auctions in Hong Kong

The jewelry and watches auction market in Hong Kong is thriving. The city’s reputation as a global financial hub and its strong affinity for luxury makes it an ideal platform for high-end auctions. From exquisite gemstones to rare timepieces, Hong Kong auctions have witnessed the sale of remarkable pieces. The demand for jewelry and watches, particularly among Asian buyers, has contributed to the market’s growth. Trends in the industry include the rising interest in vintage and unique designs, as well as the increasing participation of online buyers.

Jewelry and Watch Auctions in Hong Kong

This shows a watch live auction “The Champion Collection Part VI: The Finest Watchmaking” that was hosted by Christie’s on Nov 2022 in Hong Kong. (Source: Christie’s Official Website)

Prominent Watch Auction Houses in Hong Kong

Hong Kong is home to several renowned big auction houses, including Sotheby’s, Christie’s, and Phillips, which are internationally acclaimed for their expertise in various fields. While they are not exclusively dedicated to Watch Auctions, these prestigious auction houses have established dedicated departments for watches and offer a platform for watch collectors and enthusiasts to explore and acquire exceptional timepieces.

Sotheby’s Auction House

Sotheby’s is an internationally recognized auction house known for its expertise in Old Master Paintings, jewelry, watches, wine, and collectibles. It has presented a nicely curated online auction on masterpieces. Leading the sale is a magnificent Patek Philippe reference 5961 in platinum.

Sotheby's Auction House

Patek Philippe, Annual Calendar Chronograph, Reference 5961

Sold for: HK$825,700 incl. buyer’s premium  (Estimate: HK$750,000 – HK$1,500,000)

(Source: Sotheby’s Official Website)

Christie’s Auction House

Christie’s is known for its global reach and prestigious sales, often setting record-breaking prices for exceptional pieces. Christie’s Hong Kong has held an online auction event in March this year, called “Watches Online: Top of the Time”. It offers timepieces by the world’s most illustrious watchmaking brands including Patek Philippe, Audemars Piguet, Rolex, and Cartier.

Christie's Auction House

Patek Philippe, Sky Moon Tourbillon, the reference 6002G

Sold for: HK$45,450,000 incl. buyer’s premium (Estimate: HK$28,000,000 – HK$45,000,000)

(Source: Christie’s Official Website)

Phillips Auction House

Phillips is one of the notable auction houses established by Harry Phillips and has rapidly gained prominence in the auction world in recent years with a focus on contemporary art, design, and photography. Phillips Hong Kong presented a watch auction event called “The Hong Kong Watch Auction: XVI” in May 2023.

Phillips Auction House

Rolex, Cosmograpgh ‘Rainbow’ Daytona, Reference 116598RBOW

Sold for: HK$2,794,000 incl. buyer’s premium (Estimate: HK$1,400,000 – HK$2,400,000)

(Source: Phillips’ Official Website)

Green Auctioneers Auction House: Advocate for Vintage Watch Auction

Green Auctioneers is the first French auction house established in Hong Kong, with a specialty in ladies’ watches, pocket watches, and vintage timepieces. With a deep appreciation for horological craftsmanship and a keen eye for rare timepieces. 

Renowned for their professionalism and expertise, Green Auctioneers showcases a diverse range of vintage watches, including iconic models and unique limited editions. The auction house has carved a niche for ladies’ watches, pocket watches, and vintage timepieces. 

With a strong background in horology and a team of experts, Green Auctioneers offers exceptional knowledge and curated auctions focused on these specialties. Fine Watches Online Auction in December 2022 and Spring Auction: Fine Watches & Cartier Jewelry Live Auction in April 2023 were two notable auctions hosted by Green Auctioneers. The events showcased an exquisite collection of timepieces which captured the attention of watch enthusiasts and collectors.

Notable watches sold by Green Auctioneers

A. Lange & Söhne Tourbograph Perpétuel Watch “Pour le Mérite”

Notable watches sold by Green Auctioneers-A. Lange & Söhne Tourbograph Perpétuel Watch "Pour le Mérite"

One of the notable watches sold during this auction was the A. Lange & Söhne Tourbograph “Pour le Mérite”, making it the second-highest selling A. Lange & Söhne to be offered at auction in 2022.

Sold for HK$2,437,500 incl. buyer’s premium (Estimate: HK$1,800,000 – HK$2,800,000)

Click here to view the lot details

Extremely rare and exceptional, this A. Lange & Söhne Tourbograph “Pour le Mérite” represents the pinnacle of German watchmaking craftsmanship. It features a sophisticated combination of complications, including a tourbillon, a chronograph, a rattrapante function, and a fusée-and-chain transmission system. The intricate details and precision engineering of the Tourbograph “Pour le Mérite” make it a true masterpiece that exemplifies the technical prowess of A. Lange & Söhne.

Piaget, Asymmetrical 18k White Gold with Opal Dial and Diamond-set Bezel Lady Vintage Watch, Circa 1970s

Notable watches sold by Green Auctioneers - Piaget, Asymmetrical 18k White Gold with Opal Dial and Diamond-set Bezel Lady Vintage Watch, Circa 1970s

Another remarkable watch that garnered attention during the auction was this extremely rare 18K white gold with opal dial and diamond-set bezel, 36mm diameter, manual winding movement Piaget lady vintage wristwatch. 

Sold for HK$237,500 incl. buyer’s premium (Estimates: HK$120,000 – HK$200,000)

Click here to view the lot details

An astounding vintage lady’s Piaget from the early 70s stands out with its elegant and distinctive design: an asymmetrical 18k white gold case with opal dial and diamond-set bezel. The dial is frosted with diamonds in varying sizes for a dimensional effect. Piaget’s expertise in combining exceptional craftsmanship and artistic design is evident in this timepiece, making it a sought-after piece for collectors who appreciate both style and horological excellence.

Rolex, Cosmograph Daytona “Rolex Daytona Leopard”, Ref. 116598 SACO

Notable watches sold by Green Auctioneers-Rolex, Cosmograph Daytona “Rolex Daytona Leopard”, Ref. 116598 SACO

The “Rolex Daytona Leopard” with its exquisite Cognac Baguette-Cut Sapphires Bezel was yet another rare find timepiece that captivated the audience at the auction.

Sold for €127,260 incl. buyer’s premium (Estimates: €38,000 – €70,000) | *HK$1,080,000 incl. buyer’s premium (Estimates: HK$320,000 – HK$600,000)

Click here to view the lot details

Very rare and attractive, it merges the iconic Daytona design with a touch of exotic allure. Presented by Rolex with a very limited quantity, this remarkable watch “Rolex Daytona Leopard” features a bezel adorned with meticulously arranged cognac baguette-cut sapphires, creating a mesmerizing leopard print pattern. The combination of the striking leopard-inspired bezel and the classic Daytona style is a testament to Rolex’s commitment to innovation and bold design.

These excellent auction results brought by Green Auctioneers exemplify the auction house’s commitment to offering exceptional timepieces with unique characteristics and historical significance. With their curated auctions, Green Auctioneers provides a platform for collectors to discover and acquire rare and special watches that represent the finest examples of horological artistry. Their dedication to quality and expertise ensures that each auction event showcases timepieces that leave a lasting impression on the watch industry and enthusiasts alike.

Green Auctioneers’ Auction Calendar

Green Auctioneers opens to bidders and collectors all around the world – 3 to 4 live or online auctions featuring rare and sought-after watches, striving diligently to provide diversity of watches on offer. Green Auctioneers is thrilled to continue to expand to jewelry, rare find accessories, Hermès handbags, Chanel handbags, Louis Vuitton and more in the upcoming auctions.

Explore more upcoming auctions in Green Auctioneers:

https://www.green-auctioneers.com/upcoming-auctions/

Green Auctioneers’ BUY NOW

BUY NOW is an immediate way to purchase from Green Auctioneers outside the auction calendar. Green Auctioneers provides buyers to discover and acquire quality watches, jewelry and many more exciting items coming up on its BUY NOW, exquisite pieces from private collections and ateliers.

Explore items available for immediate purchase on BUY NOW:

https://www.green-auctioneers.com/buy-now/

Highlight Item

Patek Philippe Lady Gondolo, Ref.7041R

HK$ 188,000

View Detail

Green Auctioneers Presents: The Art of Piaget – 150 years celebration

Green Auctioneers is thrilled to announce an exceptional sale in 2024 to celebrate the 150 years anniversary of PIAGET – the legendary watch and jewelry Maison of creativity and craftsmanship.

Green Auctioneers will feature a curated collection of Piaget timepieces, highlighting their exquisite craftsmanship, creativity, and timeless elegance. From iconic models to rare and unique pieces. With this auction, you have a unique opportunity to acquire coveted Piaget pieces that encompass the rich heritage and creative spirit of the Maison.

An early 70s exceptional and possibly unique Piaget 18k yellow gold and coral stone dial cuff watch manchette curated by Green Auctioneers

Green Auctioneers Goes From Strength to Strength

The auction industry in Hong Kong has a vibrant history and continues to evolve with the digitalization of auctions. Traditional prominent auction houses such as Sotheby’s, Christie’s, and Phillips have played an important role in establishing Hong Kong as a global auction hub.

Green Auctioneers stands out with its specialty in ladies’ watches, pocket watches, and vintage timepieces. Watches and jewelry sold by Green Auctioneers have achieved excellent auction results, the year 2024 will establish Green Auctioneers as one of the major auction houses for ladies’ watches, pocket watches, and vintage timepieces.

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