Christie’s Stages its First International Art Auction in the Middle East

International art market history was made Wednesday evening as a new platform on the world stage was launched by Christie’s.

Christie’s first international modern and contemporary art auction in the Middle East took place in Dubai and totalled $8,489,400 (AED 31,173,925), far exceeding presale expectations. The sale saw 53 new artist records established as, in many cases, a wealth of new talent was showcased for the first time on the art market stage.

Offering over 120 works of art from the Arab world, Iran, India, Pakistan and the West, this was the first sale of its kind to take place in the region. Staged at the Jumeirah Emirates Towers, the stunning pre-sale exhibition was attended by hundreds of visitors over the three days of public viewing. The saleroom was crowded with over 600 clients, many new to the auction process.

“This auction was the first phase in our plan to develop within the Middle East and exceeded our expectation in terms of the prices achieved and the incredibly enthusiastic response from our new clients in the region,” said Edward Dolman, Chief Executive Officer, Christie’s International.

The sale sold 87% by lot and 94% by value. Buyer breakdown on the evening was 53% from the Middle East, 23% from Europe, 11% from the Americas, 11% from Asia and 2% elsewhere. Of the Middle East buyers, 80% were from the UAE.

While worldwide media attention has focussed particularly on other regions of the world as the contemporary art market has dramatically developed, the Arab world and Iran have also been vibrant centres in the production of modern and contemporary art, in particular during the second half of the 20th century. Often for the first time, pioneering artists from all over the region were included in the sale. Collectors, both new and established, competed fiercely in the auction with in many cases, European buyers bidding for works from the Middle East as well as Middle East collectors competing for the Western art.

Two major highlights of the evening were by Egyptian artist Ahmed Moustafa (b. 1943) whose Orbits of Praise (estimate: AED370,000-440,000/$100,000-200,000) realised $240,000/AED881,304 and Where Two Oceans Meet (estimate: AED370,000-440,000 / $100,000-120,000) sold for $284,800 /AED1,045,814, establishing a new world record price at auction for the artist. Additional highlights by Egyptian artists included Chant Avedissian’s (b.1951), Icons of the Nile, that sold for $48,000 / AED176,260.

Additional leading works this evening included Lebanese artist Paul Guiragossian’s Spring Festival (estimate:  AED110,000-130,000/US$28,000-35,000), that sold for $64,800/AED237,952, establishing a new world record for the artist. Other Lebanese artists whose work was very well received included Chafic Abboud and Hussein Madi.

The climate of Iraq and Syria has produced some of the most memorable images in all of Arab contemporary art. In this sale were powerful works by renowned artists including Dia Al-Azzawi whose (Iraq. B. 1939) Oriental Taqsim in red, 1999, sold for $45,600 / AED167,447 (estimate: $20,000-30,000). The first lot of the sale, The Peasant by Shakir Hassan Al-Said (Iraq, 1925-2004) sold for $31,200 / AED114,569, trebling expectations.

Suad Al-Attar (Iraq, b. 1942), Horses in a Forest sold for $14,400, again for three times its pre-sale estimate. A rare Landscape by Fateh Moudarres (Syria 1922-1999) (estimate: $7,000-10,000), dating from 1973, sold for $19,200 AED70,504, a new record for the artist at auction. Artists from Morocco, Tunisia, Algeria, Libya and elsewhere also sold extremely well.

Works of art from Iran were equally highly sought by collectors this evening. Record prices were established for artists Mohsen Vasiri, Massoud Arabshahi, Farhad Moshiri, Sadegh Tabrizi, Fatemeh Emdadian, Nasser Ovissi, Hossein Zenderoudi, Mohammad Ehsai, Faramarz Pilaram, Fereydoun Ave, Khosrow Hassanzadeh and Shadi Ghardirian.

The current strength of the Modern and Contemporary Indian Art market was witnessed in Dubai as the top prices achieved were in this exciting section that totalled $6 million and saw eight new artist records. This followed Christie’s most recent sale in March 2006 that realised over $15.6 million. The proximity of Dubai to the Indian sub-continent proved tempting for collectors as this superb inaugural sale provided the newest platform for this rising market in the international art market place.

The top lot of the sale as well as the Indian section was the sublime Numbers by Rameshwar Broota (b.1941). Titled Numbers, the painting (estimate: AED300,000-440,000/ $80,000-120,000) sold for US$912,000 AED3,348,955, a record price for the artist at auction. This significant work represents a shift in Broota's oeuvre following his discovery of a knifeblade technique that strips layers of paint to create subtle shading and texture without the benefit of preparatory works on paper.

Further highlights included Syed Haider Raza’s Sourya (Sun) (estimate: AED1,500,000-2,300,000 $400,000-600,000) which sold for $520,000 / AED1,909,492. Depicting an arrangement of shapes reduced to their essence as the earthy colours evolve from light to dark following the natural sequence of day into night. A further highlight by Raza was Ciel Blue that sold for $329,600 AED1,210,324.

The celebrated 91-year old artist, Maqbool Fida Husain (b.1915), who has a house in Dubai, was represented in the Dubai sale. Highlights included Mother Teresa, 2000, that sold for $273,600. 

Western artists were also represented, highlights included Andy Warhol (1928-1987)’s Double Mona Lisa, 1978 (estimate: AED450,000-590,000 $120,000-160,000) that realised $192,000 AED705,043.

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