SOTHEBY’S AUTUMN 2019 SALES SERIES IN HONG KONG TOTALS HK$3.35 BILLION / US$426 MILLION

6th-Consecutive Hong Kong Series to Exceed US$400 Million

3,423 Lots Sold Across 20 Auctions in 5 Days *86% Sold by Lot*

Five Works Sell for Over HK$100 Million (US$12 Million)

Achieving World Auction Records Led by Benchmark Prices for Sanyu and Yoshitomo Nara

Buyers Hailing from Nearly 40 Countries

Sales Attract New Generation of Buyers: 25% of All Buyers Throughout the Series are Under 40

HONG KONG, 9 October 2019 – Sotheby’s concluded our autumn sales series yesterday in Hong Kong, with 3,423 lots sold across 20 auctions conducted over five days at the Hong Kong Convention & Exhibition Centre for a grand total of HK$3.35 billion / US$426 million – the sixth consecutive Hong Kong series to exceed US$400 million (series estimate HK$2.5 – 3.57 billion / US$318 – 456 million).

Tad Smith, Sotheby’s CEO, commented: “Our successful sales series in Hong Kong followed the closing of our acquisition by Patrick Drahi, which returned Sotheby’s to private ownership last week after 31 years of public trading. The confidence of our consignors this season and the demand demonstrated by buyers throughout our week of sales is a strong market signal as we look forward to our marquee November sales in New York and beyond.”

Patti Wong, Chairman of Sotheby's Asia, said: “Our Hong Kong saleroom is a truly international platform, attracting global participation every season. Across Asia in particular, we have always focused on a strategy of engagement with collectors throughout the region. This season we travelled property throughout Greater China, Japan, Korea, Thailand, Singapore and Indonesia in the lead-up to our sales, which contributed greatly to our results.”

Kevin Ching, CEO of Sotheby's Asia, added: “We sourced globally this season, always keeping our finger on the pulse of the market in Asia and our collectors' evolving tastes. That meant securing for sale everything from a Belgian collection of contemporary Chinese art to works by John Currin and Elizabeth Peyton from the collection of Marc Jacobs - collectors responded to the consistent high quality throughout our sales.”