Hong Kong - Continuing the momentum from a strong 2024 and the opening of its new Asia-Pacific headquarters last autumn, Bonhams achieved a 26% year-on-year increase in Hong Kong auction sales in the first half of 2025, surpassing HK$390 million (US$50 million). The aggregate auction total is 118% over the low estimate.
Private sales also saw significant growth, particularly in luxury categories, as collectors increasingly value immediacy, discretion, and flexibility in transactions. This trend underscores Bonhams' ability to adapt to evolving client preferences, complementing its auction business.
Julia Hu, Bonhams' Managing Director, Asia, commented: "Bonhams Hong Kong continues to deliver sustained growth with strong results across auctions and private sales. This momentum stems from a growing base of passionate collectors, our agility in anticipating market trends, and our expertise in sourcing top-class private collections through our global network. The launch of our new Asia-Pacific headquarters last year marked a major milestone, elevating client experience and opening fresh opportunities in this dynamic region. We're excited to build on this success and take our journey to the next level."
Strong Participation Across Asia:
Bonhams' auctions continued to attract robust participation from collectors across Asia, with buyers from Greater China remaining a dominant force. Southeast Asia also showed remarkable growth, with spending surging 67% year-on-year, highlighting the region's growing influence and engagement.
New and Young Buyers Driving Growth:
New and younger buyers played a pivotal role, with 25% of auction buyers being new to Bonhams. Millennials and Gen Z now account for 37% of our buyers, reflecting Bonhams' success in engaging the next generation—a key driver of long-term growth.
Digital Platforms Surge:
Bonhams' digital platforms proved transformative and integral to its growth. In Hong Kong, online-only auction sales grew 72% year-on-year, with online auction buyers increasing by 64%. Across all auctions, 84% of lots were sold online, reflecting collectors' embrace of seamless digital experiences.
Highlights from First Half 2025:
Bonhams demonstrated strength across multiple categories in the first half of 2025:
•Asian Art growth: Combined auction totals reached HK$217 million (US$28 million) across Chinese Ceramics and Works of Art, Chinese Paintings, and Indian, Himalayan & Southeast Asian Art—marking a 57% year-on-year increase and 133% over the low estimate.
•Luxury categories surge: Sales grew by nearly 50%, driven largely by the growth in wine & spirits sales. Additionally, 22% of buyers were new, highlighting Bonhams' ability to attract an expanding clientele.
•Watches saw robust demand: Bonhams Hong Kong Watches auction on 23 May achieved an exceptional sell-through rate of over 90%. Rare and sought-after timepieces drove first-half auction totals to 130% over the low estimate.
•Prestigious Private Collections: Bonhams continued to excel in offering prestigious private collections across categories, reflecting its sourcing expertise and global reach:
- Chinese Ceramics & Works of Art: Dr. & Mrs. Hu Shih-chang Collection of Chinese Art; The Trudy and John Neville Cohen Collection (95% sell-through rate)
- Indian, Himalayan & Southeast Asian Art: The Jules Speelman Collection
- Chinese Paintings: The Chang Chun Collection (100% sold above high estimates)
- Watches: Two Japanese private collections featuring neo-vintage timepieces and Piaget's distinctive stone dials (both 100% sold)
- Jewellery: Six private collections from the Hong Kong Jewels & Jadeite sale performed well—two were 100% sold, while two achieved sell-through rates over 90%
- Wine: The Oasis Collection (the first-ever Middle Eastern private wine collection auctioned in Hong Kong)