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Christie's to Open New Hong Kong HQ, Sees Growing Asian Gen Z Interest

People watch the sunset over Victoria Harbour from a mountaintop in Hong Kong, China March 12, 2024. REUTERS/Tyrone Siu/File Photo
People watch the sunset over Victoria Harbour from a mountaintop in Hong Kong, China March 12, 2024. REUTERS/Tyrone Siu/File Photo
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Christie's to Open New Hong Kong HQ, Sees Growing Asian Gen Z Interest

People watch the sunset over Victoria Harbour from a mountaintop in Hong Kong, China March 12, 2024. REUTERS/Tyrone Siu/File Photo
People watch the sunset over Victoria Harbour from a mountaintop in Hong Kong, China March 12, 2024. REUTERS/Tyrone Siu/File Photo

Auction house Christie's hopes its new 50,000-sq-ft Asia headquarters that opens in Hong Kong in September will boost sales in 2024 amid increased interest across the region from a new generation of culturally astute millennials and younger.
Francis Belin, Christie's Asia-Pacific president, said he is "cautiously optimistic" about sales in the region as they try to engage with clients with the right products, right price and "exciting" events, Reuters said.
"We think we'll continue to see a market in 2024 which is not as booming as in 2021, but it's one that we can navigate if we do the right thing like we did in 2023," Belin told Reuters on Monday.
Total auction sales in the Asia-Pacific region eased 4% to $805 million last year from 2022, contributing 28% to the group's total. The sales decline compared to 43% and 9% drops in Americas and EMEA (Europe, Middle East, Africa), respectively.
Greater China accounted for 80% of Asia-Pacific sales.
Christie's also saw a surge in new buyers among millennials, born between 1981 to 1996, and Gen Z, born since 1997. It said Asia-Pacific accounted for 66% of its global millennial buyers last year, and more than half of them were from mainland China. Gen Z buyers from Asia-Pacific also more than doubled.
Belin said the auction house had started to see a surge in buying from young Chinese collectors for Chinese works of art and paintings over the past three years, rising from a few percentage points to up to 20% now, thanks to the company's increasingly use of Chinese social media apps such as Wechat and Xiaohongshu.
"So you find collectors at the depth of collecting, not just the hip, new artist, but that goes back to their cultural roots. That's meaningful for them and their culture," Belin said.
The market was slower last year because collectors were not convinced it was the best time to sell, he added.
The auction house will open its new Asia-Pacific headquarters at The Henderson, a new office tower in Hong Kong's prime Central district, in September. Christie's four floors in the building, which is being designed by Zaha Hadid Architects and developed by Henderson Land, will launch a three-month program of sales, exhibitions and events until November.
Belin shrugged off the impact of new national security laws that the Hong Kong government has imposed on the city, saying the financial hub still has a free flow of capital and rule of law.
He said he recognised the Hong Kong government's efforts in developing the city's arts and culture by hosting international events and building the West Kowloon Cultural District, which overlooks Victoria Harbour.
"Hong Kong will be able to rebuild itself; art and culture is part of it."
The Knight Frank Luxury Investment Index (KFLII), which tracks the performance of 10 popular investments of passion, showed that art was the best-performing luxury asset class in 2023, followed by jewelry, with prices rising 11% and 8%, respectively.
Knight Frank said in a report last week clients in Hong Kong allocate 19% of their investment portfolio to luxury investments, in line with the global average.

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Varieties

Row Deepens Over Vanished River Wave in Munich

(FILES) Surfers ride the Eisbach (ice creek) wave during freezing conditions on the Isar River in the English Garden in Munich, southern Germany on January 4, 2017. (Photo by Mark RALSTON / AFP)
(FILES) Surfers ride the Eisbach (ice creek) wave during freezing conditions on the Isar River in the English Garden in Munich, southern Germany on January 4, 2017. (Photo by Mark RALSTON / AFP)
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Row Deepens Over Vanished River Wave in Munich

(FILES) Surfers ride the Eisbach (ice creek) wave during freezing conditions on the Isar River in the English Garden in Munich, southern Germany on January 4, 2017. (Photo by Mark RALSTON / AFP)
(FILES) Surfers ride the Eisbach (ice creek) wave during freezing conditions on the Isar River in the English Garden in Munich, southern Germany on January 4, 2017. (Photo by Mark RALSTON / AFP)

A row over the disappearance of a famous river surfing wave in Munich escalated on Sunday as authorities removed a beam inserted over Christmas to recreate the attraction.

The Eisbach wave on a side branch of the Isar River had been a landmark in the Bavarian city since the 1980s but it vanished in October after annual cleanup work along the riverbed.

Activists had placed a beam in the water early on December 25 to partially recreate the wave, according to German media reports, and hung a banner above the water that read "Merry Christmas".

But a spokesman for the Munich fire service told AFP the "installation was removed" on Sunday at the request of city authorities.

Activists have made several attempts to reinstate the wave in the city's Englischer Garten park since October -- only to see them reversed.

The local surfers' association IGSM on Thursday posted a statement on its website saying it had abandoned its campaign to save the wave, accusing city authorities of dragging their feet.

The Eisbach wave was considered the largest and most consistent river wave in the heart of a major city and had become a tourist attraction in Bavaria's state capital.

Franz Fasel, head of the IGSM, told AFP in July that 3,000 to 5,000 local surfers were using it.

Access to the wave was cut off for several months earlier this year after the death of a 33-year-old Munich woman who became trapped under the surface while surfing at night.

Varieties

New York Subway Ends its MetroCard Era and Switches Fully to Tap-and-go Fares

Lev Radin, a MetroCard collector, shows his collection of Inaugural Limited Edition MetroCards, Dec. 10, 2025, in New York. (AP Photo/Yuki Iwamura)
Lev Radin, a MetroCard collector, shows his collection of Inaugural Limited Edition MetroCards, Dec. 10, 2025, in New York. (AP Photo/Yuki Iwamura)
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New York Subway Ends its MetroCard Era and Switches Fully to Tap-and-go Fares

Lev Radin, a MetroCard collector, shows his collection of Inaugural Limited Edition MetroCards, Dec. 10, 2025, in New York. (AP Photo/Yuki Iwamura)
Lev Radin, a MetroCard collector, shows his collection of Inaugural Limited Edition MetroCards, Dec. 10, 2025, in New York. (AP Photo/Yuki Iwamura)

When the MetroCard replaced the New York City subway token in 1994, the swipeable plastic card infused much-needed modernity into one of the world’s oldest and largest transit systems.

Now, more than three decades later, the gold-hued fare card and its notoriously finicky magnetic strip are following the token into retirement, The Associated Press reported.

The last day to buy or refill a MetroCard is Dec. 31, 2025, as the transit system fully transitions to OMNY, a contactless payment system that allows riders to tap their credit card, phone or other smart device to pay fares, much like they do for other everyday purchases.

Transit officials say more than 90% of subway and bus trips are now paid using the tap-and-go system, introduced in 2019.

Major cities around the world, including London and Singapore, have long used similar contactless systems. In the US, San Francisco launched a pay-go system earlier this year, joining Chicago and others.

MetroCards upended how New Yorkers commute The humble MetroCard may have outlasted its useful life, but in its day it was revolutionary, says Jodi Shapiro, curator at the New York Transit Museum in Brooklyn, which opened an exhibit earlier this month reflecting on the MetroCard’s legacy.

Before MetroCards, bus and subway riders relied on tokens, the brass-colored coins introduced in 1953 that were purchased from station booths. When the subway opened in 1904, paper tickets cost just a nickel, or about $1.82 in today’s dollars.

“There was a resistance to change from tokens to something else because tokens work,” Shapiro said on a recent visit to the museum, housed underground in a decommissioned subway station. “MetroCards introduced a whole other level of thinking for New Yorkers.”

The Metropolitan Transportation Authority launched public campaigns to teach commuters how to swipe the originally blue-colored cards correctly, hoping to avoid the dreaded error message or lost fares. Officials even briefly toyed with the idea of a quirky mascot, the Cardvaark, before coming to their senses.

The cards quickly became collectors items as the transit system rolled out special commemorative editions marking major events, such as the “Subway Series” between baseball’s New York Mets and the New York Yankees in the 2000 World Series. At the time, a fare cost $1.50.

Artists from David Bowie and Olivia Rodrigo to seminal New York hip hop acts, such as the Wu-Tang Clan, the Notorious B.I.G. and LL Cool J, have also graced the plastic card over the years, as have iconic New York shows like Seinfeld and Law & Order.

“For me, the most special cards are cards which present New York City to the world,” said Lev Radin, a collector in the Bronx. “Not only photos of landmarks, skylines, but also about people who live and make New York special.”

Perfecting the correct angle and velocity of the MetroCard swipe also became something of a point of pride separating real New Yorkers from those just visiting.

During her failed 2016 presidential campaign, Hillary Clinton, a former US Senator from New York, took an excruciating five swipes at a Bronx turnstile. In fairness, her chief Democratic opponent at the time, US Sen. Bernie Sanders of Vermont, a native Brooklynite, didn't even appear to realize tokens had been discontinued.

Cost savings and lingering concerns Unlike the MetroCard rollout, OMNY has required little adjustment.

Riders reluctant to use a credit card or smart device can purchase an OMNY card they can reload, similar to a MetroCard. Existing MetroCards will also continue to work into 2026, allowing riders to use remaining balances.

MTA spokespersons declined to comment, pointing instead to their many public statements as the deadline approaches.

The agency has said the changeover saves at least $20 million annually in MetroCard-related costs.

The new system also allows unlimited free rides within a seven-day period because the fare is capped after 12 rides. It'll max out at $35 a week once the fare rises to $3 in January.

Still, new changes come with tradeoffs, with some critics raising concerns about data collection and surveillance.

Near Times Square on a recent morning, Ronald Minor was among the dwindling group of "straphangers" still swiping MetroCards.

The 70-year-old Manhattan resident said he's sad to see them go. He has an OMNY card but found the vending machines to reload it more cumbersome.

“It’s hard for the elders,” Minor said as he caught a train to Brooklyn. “Don’t push us aside and make it like we don’t count. You push these machines away, you push us away.”

John Sacchetti, another MetroCard user at the Port Authority stop, said he likes being able to see his balance as he swipes through a turnstile so he knows how much he’s been spending on rides.

“It’s just like everything else, just something to get used to," he said as he headed uptown. "Once I get used to it, I think it’ll be okay.”

Varieties

French Legend Brigitte Bardot Dead at 91

FILED - 01 April 1956, France, Cannes: Then French actress and singer Brigitte Bardot is photographed with a parrot in her hand on the beach during the Cannes Film Festival. Photo: -/AFP Intercontinentale/dpa
FILED - 01 April 1956, France, Cannes: Then French actress and singer Brigitte Bardot is photographed with a parrot in her hand on the beach during the Cannes Film Festival. Photo: -/AFP Intercontinentale/dpa
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French Legend Brigitte Bardot Dead at 91

FILED - 01 April 1956, France, Cannes: Then French actress and singer Brigitte Bardot is photographed with a parrot in her hand on the beach during the Cannes Film Festival. Photo: -/AFP Intercontinentale/dpa
FILED - 01 April 1956, France, Cannes: Then French actress and singer Brigitte Bardot is photographed with a parrot in her hand on the beach during the Cannes Film Festival. Photo: -/AFP Intercontinentale/dpa

French film legend Brigitte Bardot, a cinema icon of the 1950s and sixties who walked away from global stardom to become an animal rights protector, has died aged 91, her foundation said Sunday.

Bardot had rarely been seen in public in recent months but was hospitalized in October and in November released a statement denying rumors that she had died. The foundation did not say when or where she died.

"The Brigitte Bardot Foundation announces with immense sadness the death of its founder and president, Madame Brigitte Bardot, a world-renowned actress and singer, who chose to abandon her prestigious career to dedicate her life and energy to animal welfare and her foundation," it said in a statement sent to AFP.

Bardot became a global star after appearing in "And God created Woman" in 1956, and went on to appear in about 50 more movies before giving up acting.

She retired from film to settle permanently near the Riviera resort of Saint-Tropez where she devoted herself to fighting for animals.

Her calling apparently came when she encountered a goat on the set of her final film, "The Edifying and Joyous Story of Colinot.”

To save it from being killed, she bought the animal and kept it in her hotel room.