A new team of professionals is headlining Sotheby’s luxury team in Asia as the auction house further strengthens its growth strategy in the luxury sector. 

As newly appointed chairman, Jewellery and Watches, Asia, Wenhao Yu is tasked to grow Sotheby’s Jewellery and Watches businesses in Asia. He will be supported by Regine Ngan, who recently joined as head of Department, Jewellery, and Joey Luk, who was promoted to head of Department, Watches. 

“The growth of our luxury business in Asia is a strategic priority for the company,” said Josh Pullan, head of Global Luxury Division. “With his innovative vision, strong client network and deep understanding of the market, Wenhao will further strengthen business synergies between these two fast-growing categories, foster growth and expand market opportunities in his new role.”

Sotheby’s luxury auctions generated more than US$1 billion in 2021 – a new record for any auction house – driven by a record number of bidders. Watches established a new benchmark for its annual auction total while jewellery sales reached their highest total since 2017. Asian collectors were the main growth drivers, acquiring more than 40 per cent of the value of all global watches sales and 52 per cent of the value of all jewellery sales, the company said.