Sotheby’s International Realty to Strengthen Presence in China

Hainan_3Sotheby’s International Realty Affiliates LLC announced Tianjin Zeng Yi Real Estate Brokerage Co. Ltd., which is owned by Plus Investment Holding Group (Beijing), will open Hainan Sotheby’s International Realty in China, furthering the brand’s expansion in Asia.

Kevin Corbett will serve as chief executive officer, and Jim Hao will serve as general manager.  The firm is expected to open in mid-November of this year.

“Following the planned opening of Beijing Sotheby’s International Realty in October, Kevin and Jim look to continue the momentum in Hainan,” said Philip White, president and chief executive officer, Sotheby’s International Realty Affiliates LLC.  “Hainan, with its tropical climate, is a tourist hot spot.  We are proud of their efforts in creating a strong presence in this market, as we continue our expansion in Asia.”

With the opening of Hainan Sotheby’s International Realty, the Sotheby’s International Realty® brand will have 27 independently owned and operated offices throughout Asia in Australia, Beijing, Hong Kong, Japan, New Zealand, the Philippines, Taiwan, Thailand and Vietnam.

“Hainan is often referred to as the Hawaii of China, and the No. 1 tropical resort destination there,” said Corbett.  “With the strength of the Sotheby’s International Realty network and our robust resources in Hainan, we are opening new doors to this exotic haven and to those seeking to invest in China’s world-class resort real estate.  With the opening of Hainan Sotheby’s International Realty, we foresee further growth and expansion in mainland China’s luxury real estate market.”

Story courtesy of Sotheby’s International Realty

2014 Luxury Lifestyle Report

Luxury Lifestyle Report Image

If the top wishes of wealthy Americans could be encapsulated in a single dream home, it would a self-designed “lifestyle property'” on the waterfront with a multi-car collector’s garage. This was among the key findings of the 2014 Sotheby’s International Luxury Realty Lifestyle Report, which surveyed affluent consumers in the United States, United Kingdom, Brazil and China to determine their purchasing behaviors. The study found that buyer confidence has been increasing. The majority of people surveyed in all four countries were more likely to purchase a lifestyle property now more than they were five years ago, and will most likely make that property their primary residence. The report gives a comprehensive look at the luxury real estate market with regard to location, family needs and return on investment. It also takes a detailed look at what lifestyles and amenities are trending right now. To view the entire report, click here.

Property from the Collection of Mrs. Paul Mellon: Masterworks

Sotheby’s will offer a curated selection of important fine art from the collection in a dedicated evening auction on 10 November. Ranging from 17th-century still lifes through to masterpieces of the 20th century, the incredible breadth and depth of Mrs. Mellon’s fine art reveals her ultimate connoisseurship, and an approach to collecting across styles and genres that is increasingly rare. The Masterworks auction is led by Mark Rothko’s Untitled (Yellow, Orange, Yellow, Light Orange) from 1955, which captures the ephemeral magic of daybreak (right, est. $20/30 million). The work belongs to the most pivotal moment in the artist’s career — he painted only 22 works in this pinnacle year, 13 of which reside in prestigious museum collections. The collection also offers Rothko’s Untitled from 1970, classified as the penultimate painting in the artist’s prodigious oeuvre (est. $15/20 million). Both works have remained in the Mellons’ collection for more than 40 years. The sale offers three monumental canvases from Richard Diebenkorn’s famed Ocean Park series, each acquired by the Mellons in the 1970s shortly after they were created. Old Master Paintings from the collection are led by Ambrosius Bosschaert the Elder’s Still Life (est. $3/4 million), and the American Art includes works by Winslow Homer, Georgia O’Keeffe and Edward Hopper.

http://www.sothebys.com/en/news-video/videos/2014/09/first-look-property-collection-mrs-paul-mellon.html