A Yen for Yuan: Sotheby’s to Open Chinese Office

Bullet Shih Mar, 2012 0
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While Sotheby’s has had an office in Hong Kong since 1973, they have recently upped the ante.  Art Market Monitor has reported that yesterday CEO Bill Ruprecht held a conference call to state that Sotheby’s was currently “under-penetrated” in China.  Ruprecht then went on to say,

We’re opening new premises in Hong Kong in 8 weeks where we are building our capability to engage clients from Hong Kong, from greater China and from all of Southeast Asia 300+ days a year rather than 15 days a year. That’s a transformation of in terms of the level of activity, the level of products, the level of range of things we’ll have on offer to clients there on a regular basis. … We’re taking this step because we think it is really important to understand how far and how fast we can build our engagement and success through a much larger and more exciting platform rather than renting a convention center a couple of weeks a year.

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