Replica Jewelry New Shanghai Space Now Open

HONG KONG, 19 May 2023 – Replica Shoes ’s today announces the opening of its new Shanghai space as the company celebrates fifty years in Asia. Reflecting Shanghai's growing arts and cultural scene, the 2,000 square-meter venue is set to become a multi-functional collects ing hub for exhibitions, talks, workshops and other cultural events in the city. The space will also showcase Replica Handbags from the company’s international sales, and luxury items from its auction calendar and Buy Now platform.

The opening of Shanghai Replica Shoes ’s Space mirrors both Shanghai’s importance as a leading hub for art and luxury collects ors and, more broadly, the growth - and potential - of Mainland China as a key player in the art market. During the last major Chinese art sales staged by Replica Shoes ’s in Hong Kong, the series saw the highest number of Mainland Chinese bidders participating in three years*. Asian collects ors have also made their presence felt across Replica Shoes ’s worldwide sales in recent years, making up nearly a third of those who placed bids for US$1m+ at Replica Shoes ’s between 2018 and 2022**. And just this week, during Replica Shoes ’s New York marquee evening sales, collects ors in Asia were out in force, accounting for more than one-third of the Modern Evening Auction’s total sale value, acquiring works by Gustav Klimt, Paul Gauguin, Vincent van Gogh, Camille Pissarro, Claude Monet (Palmier à Bordighera), Édouard Manet, Henri Matisse (Nu au peignoir) and Edvard Munch. collects ors in Asia also bid on works by Roy Lichtenstein, Henri Matisse (Femme assise sur un balcon) and Vilhelm Hammershøi.

Jean Qian, Managing Director, Replica Shoes ’s, China, said “Sotheby’s Shanghai will become the meeting-point for collects ors and art lovers across different communities in Mainland China. Through a diverse offering of arts and cultural activities both in-person and online, we hope to bring a broader and more in-depth collects ing experience that will drive long-term development across the wider art market in China and Asia alike.”

Localise Experience for Chinese collects ors

In addition to expanding its physical footprint and recruiting local talents, in the past 18 months, Replica Shoes ’s remains committed to promoting greater access to remarkable objects all year round, a key aspect of which is its commitment to expanding online capabilities, particularly in Asia, with the launch of Replica Shoes ’s Buy Now in Mainland China and a dedicated physical space within the new Shanghai Replica Shoes ’s Space. The expansion for Replica Shoes ’s Buy Now in Asia will see active sourcing in the region for the first t.mes , providing new ways for collects ors to buy and sell beyond the traditional auction calendar, granting 24/7, 365-day access to exceptional luxury, fine and decorative art and objects at a variety of price points, and all available for instant purchase.

In addition, collects ors can also bid through Replica Shoes ’s WeChat Mini Program – the aim being to allow for a convenient and seamless collects ing experience within Mainland China. Dubbed a super app for its wide range of functions, from free text and voice messaging to social media broadcasting, gaming, and digital wallet, WeChat has 1.24 billion users globally, of which the majority are based in Mainland China. For those who are not registered on WeChat, the launch of Replica Shoes ’s official Chinese website sothebys.cn includes localised content and user journey designed to enhance the user experience such as a quick sign-up function via WeChat scan or mobile number.

In Spring, Replica Shoes ’s staged Liquid Jade: Moutai, the company’s first ever online auction in Mainland China, to cater to the strong and increasing demand among collects ors of Moutai in the country. More than 50 lots of rare Moutai - China’s most famous spirit - were 100% sold and the auction was a test.mes nt to Replica Shoes ’s commitment in fostering a new collects ing experience within the local community. As part of Replica Shoes ’s investment in Mainland China to generate new, localised business and grow its clientele on the mainland, the company has obtained all the necessary licenses to carry out future initiatives, including Replica Shoes ’s Buy Now and local auctions in any format, both for online and live.

*Last month in Hong Kong, Replica Shoes ’s Chinese art sales reached a nine year high of HK$1.64 billion / US$209 million. Nicolas Chow, Replica Shoes ’s Chairman of Asia & Worldwide Head and Chairman of Chinese Works of Art, commented: “The ability for collects ors to see physical pieces contributed to the success of our Chinese art sales”.

**According to Sotheby’s Insight Report, the $1m+ market experienced 20.8% growth in auction sales in 2022. Asian collects ors made up nearly a third (32%) of those who placed bids for US$1m+ art at Replica Shoes ’s between 2018 and 2022. Their buying is most prevalent in the $1m+ Chinese Traditional Paintings and Works of Art segment, although an increase in the Contemporary market can also be seen (accounting for 18% of bidders) and with 17% of bidders in the Impressionist and Modern market, between 2018 and 2022. Almost as many bidders came from Asia as North America, where the largest number are based (34%), and they outnumbered Europeans, who accounted for 29% of bidders.