"Without question, COVID-19 is a time for experimentation. You've seen different houses and art businesses try different things. It's too early to say what the future might hold but we're certainly not against experimenting with new things," Belin said.

Despite the economic downturn, auction houses in Hong Kong have outshined all other platforms of art trade in the past year. COVID-19 was perhaps the trigger that helped them break free of the traditional business model. Perhaps it was the Asian buyers' time to shine. Or perhaps it was a serendipitous coming together of all of the above. Regardless, Hong Kong's auction houses have survived the great pandemic challenge and emerged as key players in the market - one more reason to feel optimistic about the city's future as an economic powerhouse and art hub.