Core Viewpoint - Christie's has appointed Rahul Kadakia as the new President of Asia-Pacific, effective January 2026, amidst significant changes in the auction market and a focus on expanding the company's presence in the region [1][2]. Group 1: Management Changes - Bonnie Brennan, CEO of Christie's, announced the appointment of Rahul Kadakia as the Asia-Pacific President, highlighting the importance of this role during a critical time for the art market in the region [4]. - Kadakia, a veteran with 29 years of experience at Christie's, has a rich background in the auction market, having worked in various global locations including London, Geneva, and New York [5]. Group 2: Market Performance - In the first half of 2025, Christie's global auction turnover was approximately $2.061 billion, a slight decrease of 1% compared to the previous year, with the Asia-Pacific region contributing 21% of this total [6]. - The Asia-Pacific region accounted for 40% of Christie's new buyer contributions, with over one-third of these buyers coming from mainland China [7]. Group 3: Future Challenges - The appointment of Kadakia comes at a time when the Asia-Pacific region's contribution to Christie's total sales has been declining, dropping from 28% in 2023 to 26% in 2024 [6]. - Kadakia is expected to focus on attracting younger collectors to revitalize the Asia-Pacific market and improve performance in the region [7].