The Corona effect – Sotheby’s relocates its Modern and Contemporary Art sale from Hong Kong to New York

Coronavirus has hit the world like a storm, especially the countries in Asia. Apart from China, the region around Hong Kong has also been affected by the outbreak with over 24 affected cases confirmed in the state so far. This has deterred art houses from scheduling events in the country, one of which happens to by acclaimed auction house- Sotheby’s.

Around March – April each year, Sotheby’s holds several art exhibits in Hong Kong. This year as well, it was scheduled to conduct the modern and contemporary art auctions in the region. However, the coronavirus scare has forced the event to be moved to New York. Commenting on the situation, Kevin Ching, CEO of Sotheby’s Asia, said, ‘we have made the strategic decision to continue to hold our major Modern and Contemporary Art auctions in April but relocate them to New York, and to postpone the balance of our spring auctions to early July in Hong Kong.’

Also read -  Sotheby’s Hong Kong lines up scintillating range for Magnificent Jewels and Jadeite Autumn Sale

Sotheby’s rival – Auction house Christie’s has also decided to postpone the spring sales in both Hong Kong and New York from March to May/June to evade the effects of coronavirus on its revenues. Asia, especially Hong Kong is a hub for art sales across the world. It’s going to be interesting to note how these events fare in the wake of the coronavirus!

Tags from the story
Written By
A lawyer with a zeal for writing, Ekta has a deep love for linguistics, travel, and philosophy. Not an adrenalin junkie but likes going on occasional hikes to beat the weekday blues. Her bucket list includes escapades to Vietnam, Cambodia, and Morocco.