HONG KONG — Three of the world’s top auction houses are racing to expand in Hong Kong, eager to woo young Asian buyers even as the global art market retreats from pandemic-era highs.

In the span of two months, Sotheby’s, Christie’s and Bonhams will each see the culmination of yearslong efforts to upgrade their regional headquarters in the southern Chinese city.

Sotheby’s on Thursday unveiled showrooms at an upscale mall in Hong Kong’s finance district, a two-story space previously occupied by fashion label Giorgio Armani.

“We envision for this state-of-the-art space in Hong Kong to be the epicenter of culture for global visitors,” managing details ⇒

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