Ayyam Auctions’ eighth sale garners nearly $250,000 USD in sales
On May 20, Ayyam Auctions held its eighth public sale in Dubai, yielding nearly $250,000 USD via 65 lots. The first of two Young Collectors Auctions that are scheduled for 2011, the event attracted beginning and seasoned buyers from across the Middle East. Organized in an informal setting with moderately priced painting, sculpture, photography, limited edition prints and conceptual art, this recent sale was tailored for budding collectors who, although freshly introduced to the auction experience, are looking to cultivate significant holdings of art.
Working with leading galleries in Beirut and Dubai and drawing from a number of private collections, the Young Collectors Auction presented some of the biggest names in contemporary Arab and Iranian art. While attendees vied for paintings by long established artists such as Leila Nseir and Asaad Arabi, whose final hammer prices were $8,800 and $8,400 respectively, the highlights of the evening came with competitive bidding over works by emerging artists such as sculptor Ahmed Askalany, hyperrealist painter Othman Moussa and conceptual artist Qaswra Hafez, all of which also sold for $8,400. A relative newcomer to the regional art circuit, this was the first auction record to be established for the Saudi-born Hafez. The top position, however, went to young Syrian painter Mohannad Orabi whose whimsical mixed media canvas “Self Portrait” (2010) ceased the attention of several buyers, earning $9,000 in the end.
Now in its third season, the Young Collectors Auction has proven to be immensely popular within the regional art scene, encouraging the development of more patrons every year. With this latest installment being its largest and most diverse to date, this groundbreaking take on the traditional auction house model has allowed countless art lovers to acquire a stake in one of today’s hottest art markets.
(information kindly provided by Ayyam)