Before I mention the Hong Kong sales, I wanted to make a note on my post of yesterday on the UCC filings. A good comment came to me stating that appraisers should be aware the UCC-1 form is usually submitted with the Secretary of State in your State of residence and/or the State of domicile of the Consignee, and possibly both. In any event, check with your state on how to file, because if done incorrectly or with the wrong jurisdiction, the true owner may not be covered and be protected in the event of an unauthorized sale.
The main auctions in Hong Kong are ongoing this week. Just a few short weeks between the success of the Asia Week sales in NY, the Hong King sales are looking extremely strong.
Since there are so many different sales, I will wait until the consolidated updates are out and then post the final results. But by all indications, the Chinese mainland buyers are still spending.
Stay tuned.
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