Auction home SwampThe e -commerce business has now been abolished in mainland China, though it will continue the business in Hong Kong.

Now the purchase program was Delivery in this market has been closed in China in recent months amid the slowdown in demandFinancial Times (Fit) Reported Sunday (February 2).

Sutbi also left several employeesFor, for, for,. While keeping some of the key personnel in the role of the adviserAccording to the report.

Suthebi launched the Bai Nao program in Hong Kong in 2022, which offers online finer art and luxury equipment online and extended it to the mainland China in the first half of 2023.According to the report.

The auction house told FT that China is “key market for both art and luxury”, that Sutbi’s Beijing and Shanghai offices are open and dynamic, and that the company is now client relationships. Focus on.

Sutbi is also closed On According to the report, the office in Bangkok.

Major To sell during epidemic diseases to sell Sutbi Launched online platforms such as auction homes and to Appeal to the clients Who were New in excellent art and luxury marketsAccording to the report.

Now the purchase shutdown is part of a widespread retreat that has seen the sale of the global auction of Sutbi in 2024 decreased by 23 % and Seen According to the report, the company started holidays with about 50 staff at its London office during the first half of 2024.

Suthebi introduced a by -nau feature in September 2021 – six months after the onset of pandemic disease – between 600 % increase in price Online auctionAt this time the shanks reported.

Now buying people to go online, without waiting for auction, to go online and buy collectively from the Sutbi market.

Immediately to his introduction. Later, about three -quarters of the transaction were new to the transaction by buying now.

It was reported in June They Luxury brands Was resorting to “unprecedented” waiver to sell non -selling inventory in China and lure careful consumers China Economic slowdown.

China’s middle class, an important section of the luxury market, Used to Become more violent and cautious In them Spend

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