Scribd
Upload
53 views1 page

Heritage Auctions en

Kenneth Yung, Director of Asian Operations at Heritage Auctions, established their first Asia office in Hong Kong in 2015 to capture a larger share of the rare coins and currency market in Asia. Hong Kong is an ideal location for their first Asia office due to its free port status, easy customs procedures, and ability to easily access customers in Mainland China. The first rare coin auction held in Hong Kong in 2015 was very encouraging with over 960,000 registered online buyers. The Hong Kong office aims to further develop interest in rare coins and notes trading in the region using Hong Kong as a catalyst.

Uploaded by

cwmtemp
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
53 views1 page

Heritage Auctions en

Kenneth Yung, Director of Asian Operations at Heritage Auctions, established their first Asia office in Hong Kong in 2015 to capture a larger share of the rare coins and currency market in Asia. Hong Kong is an ideal location for their first Asia office due to its free port status, easy customs procedures, and ability to easily access customers in Mainland China. The first rare coin auction held in Hong Kong in 2015 was very encouraging with over 960,000 registered online buyers. The Hong Kong office aims to further develop interest in rare coins and notes trading in the region using Hong Kong as a catalyst.

Uploaded by

cwmtemp
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 1

Success Stories

“ Hong Kong is an ideal location


to open our first Asia office
because of its free port status,
easy customs procedures and
geographical advantage.”
Kenneth Yung, Director
Asian Operations, Heritage Auctions

US-based Heritage Auctions Enters Asia


Market through Hong Kong
With over 40 years of history, the US auction house has extended its presence in
Asia and plans to capture a larger share of the rare coins and currency market
Founded in 1976, the US based Heritage Auctions offers a wide December 2015 and it was Heritage’s first, focusing exclusively
range of auction services, such as US and world coins, rare on the coins and currency of Mainland China, Hong Kong, Macau
currency, art, jewellery and timepieces, vintage and couture and southeast Asia. The result was very encouraging and there
handbags and more. The auction house handles over 60 percent are already 960,000 registered online buyers. Yung is confident
in overall sales of rare US coins and currency sold at all report that the result of the upcoming auction in June 2016 with a wider
auction houses in the US. In view of the potential growth of the selection will be even better.
collectible rare coin and currency note market in the region, the
There are four staff in the Hong Kong office and all of them can
auction house has established a Hong Kong office in 2015, its first
speak English, Cantonese and Mandarin. Yung commented, “It
in Asia.
is not difficult to find talent who can speak all three languages
in Hong Kong and this helps us communicate with our US office
Numismatic Auctions
and customers speaking Cantonese and Mandarin effectively”.
Headed by rare coin and currency note collector and enthusiast
Kenneth Yung, Director of Asia Operations, the Hong Kong office
is focused on numismatic auctions. He revealed that Hong Kong
is an ideal location to open their first Asia office thanks to its Heritage Auctions
simple tax system, so buyers do not have to bear additional sales
tax; free port status and easy customs procedures that encourage
a thriving import and export of rare coins and bank notes for • Founded in 1976 in the US and is the third largest auction
individual buyers and sellers. In addition, because of Hong house in the world
Kong’s geographical advantage, Mainland Chinese buyers can • The Hong Kong office is the first Asia office which focuses
easily access the city to view the products instead of travelling to
on rare coins and currency
the US. As Mainland China is a great potential market for Heritage
Auctions, the Hong Kong office can act as a catalyst to further
develop interest in rare coin and notes trade in the region. ha.com
The first semi-annual Hong Kong Coin Auction was held in

investhk.gov.hk

Original date of publication: March 2016 © Copyright Invest Hong Kong, March 2016. All rights reserved.

You might also like