Sotheby’s sent out a release today revealing the location of its new, expanded presence in Hong Kong. The wording of the release suggests the new facility will have its own sale room but the company provides no details and the amount of space they are taking (the equivalent of less than a floor in their New York headquarters) is not very large as auction facilities go:

Sotheby’s is delighted to announce that it will unveil its newly-constructed state-of-the art gallery space in Hong Kong on 19 May, 2012, with opening exhibitions running through the end of May – an exciting month filled with international cultural events in Hong Kong.

This unique, flexible space will be unequalled in Hong Kong, and will afford Sotheby’s the opportunity to regularly host auctions, exhibitions, lectures, special events and other cultural programmes throughout the year, offering a new and exciting dimension to the Sotheby’s experience in Asia.

Comprising the entire 5th Floor of One Pacific Place – over 15,000 square feet – this facility will allow Sotheby’s to significantly expand its business in Asia beyond its traditional twice-annual series of auctions in April and October.