• Home

Christie’s expects record sale at art and jewellery auction in Dubai

DUBAI — Middle East buyers are expected to make up more than half the bidders for $30 million worth of renowned regional and international art, jewellery and watches at auctions to be staged by Christie’s this week.

The leading art business and auction house Christie’s yesterday held a preview for the art works and jewellery which will be sold at the Jumeirah Emirates Towers hotel on October 31 and November 1 at 6.30 pm, respectively.

Attendees of the Dubai auction will also be among the first to see an exhibition of $21.4 million of international jewellery and impressionist pictures which comprise highlights of Christie’s sales in Geneva and London later in the year.

Christie’s Dubai managing director Michael Jeha said Arab expatriates and Iranians made up 53 per cent of the buyers from the Middle East at the previous auction.

But a strong international contingent is also expected this time including bidders from London, the Far East and the United States.

“The pre-sale estimate for the Arab and Iranian art section of the International Modern and Contemporary Art is projected to be $5 million — exactly double the pre-sale estimate for the Arab and Iranian art category in Christie’s inaugural sale in May 2006 for approximately the same number of lots. This increase in value reflects the quality of pieces offered and demonstrates the considerable growth of this collecting category in the space of less than two years,” says Jeha.

Christie’s Contemporary Arab and Iranian Art specialist William Laurie said as the awareness of the auctions had grown, collectors had now come forward with pieces that might not have been seen or offered to the market for 40 years.

In the International Modern and Contemporary Art sale, Christie’s will offer works by leading UAE, Syrian, Lebanese, Egyptian, Iranian as well as Western artists with standout pieces including Ahmed Moustafa’s ‘Qur’anic Polyptych of Nine Panels’ (estimate $300,000-350,000), painted in 1995, and four works by Iranian artist Charles Hossein Zenderoudi, including ‘First Name’, 1972 (estimate: $80,000-100,000). Works by Andy Warhol including ‘Farah Ashraf Pahlavi’ ($80,000 - $120,000) will also be auctioned.

Watches with a pre-sale estimate of $15- 20 million, nearly double the pre-sale estimate of the inaugural event in January 2007, will also be auctioned, including an 18-carat white gold diamond Aura wristwatch by Piaget (estimate: $80,000-120,000).

Jewellery lots include a necklace by Van Cleef & Arpels (estimate: $1.2-1.5 million). Set with a graduated fringe of marquise-cut diamonds, ten of which are D colour and seven potentially flawless, this example of pure, timeless elegance was created in New York in 1957.

For the first time at the Dubai auction, bidders worldwide will have the opportunity to bid live online through the e-service — Christie’s Live.