On March 20, at the start of Art Basel Hong Kong, Phillips auction house unveiled its dazzling new Asian headquarters with a neon-lit party for about 800 collectors.

“No other auction house in Hong Kong has this,” declared Jonathan Crockett, Phillips’s chairman for Asia, dressed in a taupe Zegna ensemble and sneakers. He stood next to a gold Takashi Murakami flower sculpture that sold 10 days later for $1.78 million.