Editor’s Note
Christie’s Hong Kong Spring Elegant Treasures series concluded with strong results, achieving HK$722.7 million in total sales and surpassing low estimates by 27%. The success underscores robust demand for luxury collectibles in the auction market.
Hong Kong – From May 25 to 27, Christie’s Hong Kong held its Spring Elegant Treasures series of auctions, covering categories including Handbags & Accessories, Fine Watches, and Magnificent Jewels. To date, the series has achieved a total sales figure of HK$722,729,720 / US$92,991,248, with the hammer total reaching 127% of the total low estimate. The carefully curated rare treasures of the season, supported by appropriate valuation strategies, attracted active participation from collectors across 44 countries on six continents. The overall sell-through rate reached 92%, with nearly half of the lots selling above their high estimates. The most rare and sought-after top-tier treasures spurred enthusiastic bidding from collectors on-site, via telephone, and through online platforms—including the Cartier-designed gemstone “Cartier India Tutti-Frutti” necklace (HK$67,775,000 / US$8,720,386) and the Patek Philippe Ref. 2523J (HK$65,475,000 / US$8,424,452). The Elegant Treasures category remains a key entry point for the new generation of tech-savvy young buyers into auctions—52% of new buyers were Millennials, and 42% of all buyers secured their lots through the online bidding platform.
The outstanding results of the Elegant Treasures series auctions marked a successful start to Christie’s final season of major auctions at the Hong Kong Convention and Exhibition Centre. Christie’s will relocate to its new Asia-Pacific headquarters in The Henderson this September.
The Spring live auction achieved total sales of HK$46,119,780 / US$5,934,080. The meticulously curated auction achieved a high sell-through rate of 95%, with the hammer total reaching 117% of the low estimate. The total sales for the Handbags & Accessories department in the first half of the year reached a record high in Christie’s Asia history and led the market: HK$72,228,870 / US$9,293,450, reaffirming Christie’s continued leadership in the Asian handbags and accessories auction market.
On May 25, Christie’s Hong Kong grandly presented the Handbags & Accessories live auction, recording total sales of HK$46,119,780 / US$5,934,080. This pushed the category’s first-half total sales to HK$72,228,870 / US$9,293,450, setting a new record for the highest first-half total sales in Asia for this category and witnessing our decade-long market leadership. This season’s auction featured a curated selection of 34 Mini Kelly bags, which attracted eager bidding from various collectors and achieved a perfect 100% sell-through rate. The top lot was a rare Himalaya Niloticus Crocodile 25cm Sellier Kelly Bag with Diamonds, which sold for HK$2,394,000 / US$308,028. The Handbags & Accessories category continues to attract a new generation of young buyers—40% of buyers were Millennials.
The Spring live auction achieved total sales of HK$206,291,340 / US$26,542,826. The meticulously curated auction achieved a high sell-through rate of 92%, with the hammer total reaching 128% of the low estimate. The single-owner collections “Generational Legacy” and “Timeless Appeal” both achieved 100% sell-through. The total sales for the Watches department in the first half of the year led the Asian market: HK$222,452,730 / US$28,622,259.
On May 26, Christie’s Hong Kong presented the Fine Watches live auction, recording total sales of HK$206,291,340 / US$26,542,826, with the hammer total reaching 128% of the low estimate, strongly leading the watch auction market. The season’s outstanding results bear witness to the top quality of the selected timepieces and their powerful market appeal. The extremely rare Patek Philippe Ref. 2523J led the auction, sparking enthusiastic bidding from collectors and achieving a price of HK$65,475,000 / US$8,424,452. The watch category continues to attract the attention of a new generation of young buyers, with many collectors participating digitally—55% of new buyers were Millennials, and 55% of buyers secured their lots through the online bidding platform. Both the “Generational Legacy” and “Timeless Appeal” series achieved 100% sell-through, demonstrating Christie’s consistent excellence in presenting top-tier single-owner collections to collectors.
The Spring live auction achieved total sales of HK$476,215,400 / US$61,273,064. The hammer total reached 127% of the total low estimate. The total sales for the Jewellery department in the first half of the year led the Asian market: HK$495,836,120 / US$63,797,597.
On May 27, Christie’s Hong Kong presented the Magnificent Jewels & Jadeite Jewellery live auction, recording total sales of HK$470,318,600 / US$60,514,342, with a sell-through rate of nearly 90%, highlighting the keen global demand for exquisite jewellery. Nearly half of the lots sold above their high estimates, and the auction attracted enthusiastic bidding from collectors on-site, via telephone, and through online platforms. Highlights included the Cartier-designed gemstone “Cartier India Tutti-Frutti” necklace, which, after over 10 minutes of heated bidding, sold for HK$67,775,000 / US$8,720,386. Another magnificent ruby and diamond ring sold for HK$49,985,000 / US$6,431,405, more than three times its pre-sale estimate.
The Spring live auction has a total low estimate of HK$56,000,000 / US$7,180,000.
On June 1, Christie’s is pleased to present “The Immortal Cellar,” a selection of fine wines from the most sought-after Bordeaux and Burgundy estates. This cellar brings together top vintages, including wines from Bordeaux First Growths and renowned Right Bank estates such as Cheval Blanc, Petrus, and Le Pin, in a variety of formats up to 6 liters, primarily from the 1980s to the 2000s. It also features legendary bottles like Haut Brion 1989 in 5L and 6L formats, Lafite 1982 in 1.5L format, and Petrus 1982 in 5L format.
The Burgundy focus includes 90 lots from Domaine de la Romanée-Conti, featuring selections of Romanée-Conti from the 1960s to 2013, totaling over 100 bottles. Additionally, there is a small collection of Henri Jayer wines from 1978 to 2000, including Échezeaux, Richebourg, and Cros Parantoux. This meticulously selected cellar collection is sure to impress discerning collectors.