MARKET INTELLIGENCE 56 | JNA Jan/Feb 2022 maturity of the market in these different geographic areas play a substantial role in determining the preferences of consumers. Auction strategies and lists are adjusted based on the profile of the buyers,” explained Tian. Cultural differences however do not hinder mainland activity at auctions. Christie’s Sek noted that buyers from mainland China are receptive to the concept of auctions and are avid participants in Hong Kong sales. “They buy at auctions because of the quality, design and selection of gemstones. Provenance is another draw – pieces once owned by royalty, imperial courts and esteemed families are attractive to this market,” the company official revealed. Aside from buying at Hong Kong auctions, some mainland Chinese collectors also look to sell items at the sales. Travel limitations due to Covid-19 restrictions however currently prevent them from bringing their jewellery pieces to Hong Kong. Tian of Yongle Auction agrees that auctions are making headway in the mainland China market, as evidenced by growing participation in local sales. “At first, I was worried that Chinese consumers would be bound by traditional thinking and have concerns about buying pre-owned jewellery. But, in fact, most of our customers, especially younger people, embrace the concept of auctions. Many of them have good knowledge of European art history and are fascinated by the exquisite craftsmanship and unique designs of antique jewellery. They use jewellery to showcase their own personality and taste,” said Tian. Customer outreach Christie’s engages clients from mainland China through previews, art talks and academic courses by Christie’s Education to help them expand their knowledge and cultivate their interest in jewellery and in buying at auctions. It provides condition reports for every lot at its auctions upon request. Detailed catalogues list the certifications for particular lots. Buyers from mainland China and the rest of the world can also take part in the jewellery live auction by placing absentee bids, phone bidding and using Christie’s Live – a wholly owned platform that allows real-time bidding at live auctions on Christie’s website and mobile app. While the pandemic adversely impacted business across all industries in 2020, the auction market adapted and quickly rebounded. The main auction houses started online auctions in China, geared mainly towards junior collectors. Aside from investment purposes, bidders are motivated by collecting valuable, interesting items and improving their quality of life, said Tian. Due to limitations in the display of lots, categories at online auctions tend to be confined to mostly jadeite and other jade jewellery, postage items, woodblock printings and small works of art. High-specification lots are usually reserved for traditional auctions, she remarked. Christie’s is bullish about business prospects in mainland China, pulling out all the stops to reinforce its brand and engage the market despite upheavals brought about by the Covid-19 pandemic. Vickie Sek, chairman, Department of Jewellery, Christie’s Asia Pacific 佳士得亚太区珠宝部主席石丽华 Artist's impression of Christie's new location in Shanghai, opening in Spring 2022 (Picture courtesy of Christie's) 佳士得上海新址效果图，将于2022年春季入驻(图片由佳士得提供)
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