Christie’s CEO Guillaume Cerutti on the Future of Global Art Market: New Asia HQ in Hong Kong and the Challenges in European Market

Christie's Chief Executive discusses expectations for their new Asian headquarters in Hong Kong and its role in the worldwide art trade

Guillaume Cerutti talks about Christie's transition to continuous sales from their new Asian base in Hong Kong and the issues confronting the European market.

The typical seamless interaction between the auctioneer and the bidder experienced an unforeseen glitch during the highest bid at Christie's night auction in Hong Kong on September 26.

Xin Li, who is the deputy chairman at Christie's, signaled to experienced auctioneer Adrien Meyer that her client on the call was interested in bidding for Vincent van Gogh's Les Canots Amarrés (1887).

Rather than simply raising the previous bid, which had already reached approximately HK$200 million (US$25.7 million), she paused before abruptly stating, "26 million!" It appeared that her client was adamant about placing their bid in US dollars.

This minor hiccup was hardly a problem for a global corporation that, while owned by the French, is headquartered in London, operates auctions across three continents, and has recently inaugurated a new branch in Saudi Arabia. Unfazed, Meyer simply requested a conversion and continued with his work.