Words Eric Jurado
August 19, 2024

If you’re looking to invest in an art or auction business without the hassle of starting one from scratch, consider exploring and buying pieces from these top publicly traded art and auction businesses in Asia. Below, you’ll find details about each business, including their financial performance and investment potential. Discover which ones might be worth buying.

New Art Holdings

New Art Holdings operates the following businesses in Japan: art sales, art auctions, and art investment funds. The company also offers bridal and fashion jewelry, operates aesthetic salons, manufactures and sells cosmetics and health food products, and develops and sells sporting goods.

New Art Holdings is one of Asia’s longest-running auction houses, wholesaling and retailing contemporary paintings and running the Karuizawa New Art Museum. It promotes overseas expansion with new outlets, including a museum in Singapore designed by Kengo Kuma, and galleries in Seoul and Beijing. The company plans to grow its operations in Japan, Hong Kong, and Singapore to become Asia’s top auction house. Additionally, New Art Fintech, the financial services arm, manages and trades contemporary art pieces, leveraging the group’s expertise and international networks to enhance customer convenience through innovative financial technologies. 

New Art Holdings was incorporated in 1966, has 710 employees, and is headquartered in Chuo, Japan.

New Art Holdings’ annual revenue declined by 20%, from US$173 million in 2020 to US$139 million in 2024. Annual earnings before interest, taxes, depreciation, and amortization (EBITDA) also declined by 34%, from US$33.5 million in 2020 to US$22 million in 2024. 

Seoul Auction

Seoul Auction operates as an auction house in South Korea. It provides art storage, corporate art marketing and promotion, space rental services, and provides loans using art and antiques as collateral.

Seoul Auction, the first art auction house in South Korea, has significantly impacted the Korean art market with notable sales and market penetration since its founding. It hosts online and offline auctions catering to diverse tastes, featuring Korean, modern, and contemporary art, as well as collectible art, jewelry, wine, and architecture. With branch offices in Gangnam, Busan, and Hong Kong, alongside its Pyeongchang-dong headquarters, Seoul Auction enjoys global customer trust. As South Korea’s leading auction house, it aims to integrate culture and the arts into daily life, popularize them for broader public engagement, and revitalize cultural appreciation.

Seoul Auction was founded in 1998, has 114 employees, and is headquartered in Seoul, South Korea.

Seoul Auction’s annual revenue declined by 23%, from US$39 million in 2019 to US$30.1 million in March 2024. Annual earnings before interest, taxes, depreciation, and amortization (EBITDA), on the other hand, grew from a loss of US$-1.6 million in 2019 to US$1.6 million in March 2024.

Shinwa Wise Holdings

Shinwa Wise Holdings, together with its subsidiaries, operates as an auction company in Japan. The company operates the following businesses: art dealing, gallery management, asset defense diamonds, microfinance, medical and cultural support, and real estate. It also sells electricity and is involved in the solar power generation business.

Formerly known as Shinwa Art Auction, Shinwa Wise Holdings was the first business in Japan to hold auctions for the public. It has revitalized the artwork trading industry by making it more predictable and transparent. Guided by its philosophy of “Creating and Expanding a Fair and Reliable Auction Market,” the company has reformed the process of transferring items from seller to buyer, securing a respectable share of successful bids in the market. As a result, the company is one of Japan’s top auction businesses.

Shinwa Wise Holdings was incorporated in 1989, has 42 employees, and is based in Chuo, Japan.

Shinwa Wise Holdings’ annual revenue declined by 27%, from US$27.1 million in 2019 to US$19.8 million in February 2024. Annual earnings before interest, taxes, depreciation, and amortization (EBITDA), on the other hand, grew from a loss of US$-18.5 thousand in 2019 to US$1.8 million in February 2024.

K-Auction

K-Auction operates as an auction house in South Korea. It revitalizes the domestic art market by holding major, special, charity, and private collection auctions, featuring modern and contemporary artworks by major Korean and international artists, as well as Korean traditional arts and crafts. By conducting around 80 online auctions annually, K-Auction introduced fair and transparent market pricing in a market previously monopolized by Seoul Auction, fostering healthy competition and reasonable pricing. Committed to a robust and transparent art market, K-Auction continues to support the development of the art market and cultural sector.

K-Auction was founded in 2005, has 94 employees, and is based in Seoul, South Korea.

K-Auctions’ annual revenue declined by 64%, from US$26.5 million in 2019 to US$9.6 million in March 2024. Annual earnings before interest, taxes, depreciation, and amortization (EBITDA) also declined from US$3.9 million in 2019 to a loss of US$-2.6 million in March 2024.

SBI Art Auction | SBI Holdings

SBI Art Auction is a subsidiary of SBI Holdings. SBI Holdings engages in the online securities and investment businesses in Japan. It operates through five business segments: financial services, asset management, investments, crypto-assets, and non-financial businesses.

SBI Art Auction aims to meet the needs of art lovers and collectors by offering a range of services, including auctions, dealing, brokerage, financial services, and advisory. With professional expertise, the company seeks to make acquiring artworks more accessible and to preserve important legacies for future generations.

SBI Art Auction was incorporated in 2011 and is headquartered in Tokyo, Japan.

SBI Art Auctions’ revenue and earnings are part of SBI Holdings’ total revenues and earnings. SBI Holdings’ annual revenue grew by 133%, from US$3.42 billion in 2020 to US$7.98 billion in 2024. Annual earnings before interest, taxes, depreciation, and amortization (EBITDA) also grew by 95%, from US$751 million in 2020 to US$1.47 billion in 2024. 

SBI Holdings is forecast to grow its net profit by 12% per year over the next three years.

Conclusion

The performance of Asia’s leading art and auction businesses indicates a mixed outlook. New Art Holdings and Shinwa Wise Holdings have both seen revenue declines, with New Art Holdings experiencing a substantial drop in earnings, suggesting potential struggles in maintaining profitability. Conversely, Seoul Auction has improved its earnings despite a decrease in revenue, signaling better operational efficiency or cost management. K-Auction has faced severe revenue and earnings declines, indicating significant market challenges. SBI Art Auction, a subsidiary of SBI Holdings, is part of a larger financial services group with strong growth, hinting that its art auction operations may benefit from its parent company’s overall success. Investors should be cautious about firms with declining revenues and profitability, but may find opportunities in businesses like SBI Art Auction, which are positioned within a growing financial services framework.