London Daily

Focus on the big picture.
Thursday, Jul 31, 2025

Auction house Philips to become first tenant at West Kowloon

Leading auction house Phillips will move its Asian headquarters from Central to the West Kowloon Cultural District next September, becoming the first and major tenant of the art hub.
The new office will consist of six floors -- a total of 48,000 square feet -- in the West Kowloon Cultural District Authority Tower, including the top two floors for exhibition and auction halls.

The global auctioneer, which is currently located at the St George's Building on Ice House Street in Central, is the first tenant at the 16-story WKCDA Tower.

The company’s new headquarters in the building covers over 48,000 square feet spreading over six floors, including three retail floors on the first to the third floor of the building, one floor of office space on the 14th floor, and two upper floors of auction and exhibition space on the top 15th and 16th floor of the building.

The auctioneer said its new office also has direct access to the airport via the airport express, as well as mainland cities via the high speed rail station in West Kowloon.

Chief Executive Officer of Phillips, Stephen Brooks, said Asian clients have become a significant force in the company’s auctions and expanding presence in Asia is a critical component of the auctioneers’ growth strategy.

“We have seen over 30 percent increase in Asian client interaction with Phillips since the start of lockdown last year. I am delighted we will have a state of the art permanent sale room presence in such an exceptional, and world-class, cultural destination in West Kowloon,” Brooks said.

Chairman of the auctioneer’s Asia branch, Jonathan Crockett, also said the permanent exhibition space will allow Phillips Asia to hold exhibitions, auctions and other events throughout the year.

“Being located at the heart of the West Kowloon Cultural District will allow us to work alongside M+, the Hong Kong Palace Museum and the wider District on complementary programming and events, further enhancing the area as a world-class global destination for arts and culture,” Crockett said.

“It is with tremendous anticipation that we look forward to offering our clients an enhanced experience that is unrivaled in Asia and aligns with our headquarters in New York and London,” he added.

Betty Fung Ching Suk-Yee, Chief Executive Officer of the West Kowloon Cultural District Authority, said the SAR authorities will launch a long-term collaboration with Philips in contributing to local, regional and international arts and cultural development.

“Both West Kowloon Cultural District and Phillips, which has a strong network and renowned expertise in auction, share a common vision for promoting arts and cultural development,” she said.

“We believe that Phillips’ new home in the district is poised to become a worldwide destination for collectors in Hong Kong, Asia and beyond.”

Founded in 1796, Phillips is one of the three major auction houses in the world, along with Sotheby's and Christie's. Its branches scatter to 13 different countries while most auctions take place in New York, London and Hong Kong.

In 2015, Philips stepped up its market and entered Asia as it opened its Asia headquarters in Hong Kong and launched its first auction. The first auction broke sales records in Asia for wristwatches, with a Patek Philippe reference 3450 sold for US$1.55 million (HK$12 million).

Stretching out its business, the auction house extended its operations to Japan, South Korea, Taiwan, mainland China and countries in Southeast Asia in the next four years. Asia-based buyers constituted 34 percent of total Philips’s global sales by 2020.

Whilst the pandemic hit the global economy, Philips announced record-breaking sales of over HK$2.1 billion in Hong Kong this year, doubling their record last year.
Newsletter

Related Articles

0:00
0:00
Close
Former Judge Charged After Drunk Driving Crash Kills Comedian in Brazil
Jeff Bezos hasn’t paid a dollar in taxes for decades. He makes billions and pays $0 in taxes, LEGALLY
China Increases Use of Exit Bans Amid Rising U.S. Tensions
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Procter & Gamble to Raise U.S. Prices to Offset One‑Billion‑Dollar Tariff Cost
House Republicans Move to Defund OECD Over Global Tax Dispute
Botswana Seeks Controlling Stake in De Beers as Anglo American Prepares Exit
Trump Administration Proposes Repeal of Obama‑Era Endangerment Finding, Dismantling Regulatory Basis for CO₂ Emissions Limits
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
A family has been arrested in the UK for displaying the British flag
Mel Gibson refuses to work with Robert De Niro, saying, "Keep that woke clown away from me."
Trump Steamrolls EU in Landmark Trade Win: US–EU Trade Deal Imposes 15% Tariff on European Imports
ChatGPT CEO Sam Altman says people share personal info with ChatGPT but don’t know chats can be used as court evidence in legal cases.
The British propaganda channel BBC News lies again.
Deputy attorney general's second day of meeting with Ghislaine Maxwell has concluded
Controversial March in Switzerland Features Men Dressed in Nazi Uniforms
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
Thai Civilian Death Toll Rises to 12 in Cambodian Cross-Border Attacks
TSUNAMI: Trump Just Crossed the Rubicon—And There’s No Turning Back
Over 120 Criminal Cases Dismissed in Boston Amid Public Defender Shortage
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
Trump Announces $550 Billion Japanese Investment and New Trade Agreements with Indonesia and the Philippines
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
×