Sotheby's Asia chairman Nicolas Chow (back-L), Nathan Drahi, managing director of Sotheby's Asia (back-C) and Alvin Kong, executive director of Hongkong Land (back-R) attend a media tour of the new two-storey, 24,000 square foot (2,230 square metre) Sotheby’s space at Landmark Chater in the Central district of Hong Kong on July 25, 2024. 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 years-long efforts to upgrade their regional headquarters in the southern Chinese city. (Photo by ISAAC LAWRENCE / AFP) / To go with 'HONG KONG-CHINA-AUCTION-ART-ECONOMY, FOCUS' by Holmes CHAN