CHRISTIE’S DUBAI AUCTIONS TOTAL $6.4 MILLION

CHRISTIE’S DUBAI AUCTIONS TOTAL $6.4 MILLION

& ARE 93% SOLD

STRONG BIDDING SEES AUCTIONS

EXCEED EXPECTATIONS

 

MOSHIRI’S SECRET GARDEN SELLS FOR

JUST SHORT OF $1 MILLION

 

24% OF BUYERS IN SALES NEW TO CHRISTIE’S DUBAI 

 

RECORDS SET FOR ARTISTS INCLUDING

CHAFIC ABBOUD, SAFWAN DAHOUL & MARWAN

 

GLOBAL INTEREST IN MIDDLE EASTERN ART

CONTINUES TO FLOURISH 

WORKS BY TURKISH ARTISTS 100% SOLD 

Modern and Contemporary Arab, Iranian and Turkish Art

Sponsored by Zurich

 

Dubai – Collectors from around the world brought their passion and energy to drive the sale total at Christie’s 14th consecutive sale season of Middle Eastern art, well above the high estimate. 103 works of art representing 13 different countries made a total of $6,384,750 across two evening sales held on April 16 and 17, 2013. This was against a pre-sale high estimate for the sales of $5.5 million, and the auctions averaged 93% sold by lot, a clear indication of the success of Christie’s commitment to bring art from the Middle East to a global audience. Among the 28 lots in the part I sale, 5 auction records were set for leading artists from the region, a measure of the quality of the works offered. The saleroom applauded as Farhad Moshiri’s The Secret Garden, 2009, sold for $987,750, with 9 collectors, 2 in the room and 7 on the telephones, competing fiercely against one another to acquire it. The giant bear made entirely of light-reflecting crystals, had created quite a following during the exhibition in Dubai, and was a masterpiece by the artist.

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Hala Khayat, Head of Sale for tonight’s auction, commented: “This was my first auction as Head of Sale and so I am delighted that the total of $4.1 exceeded the pre-sale high estimate of $3.5 million. Our top lot, Farhad Moshiri’s giant bear from his Secret Garden sold for just under $1 million to applause from the room. Overall the sale was 95% sold by value, proving that our clients continue to support our strategy of selling art from the region in the region. We set five new auction records, three of which are reflected in the top ten. The auctions continue tomorrow with the Part II sale at the Emirates Towers Hotel.”

Sale highlights:

  •   Farhad Moshiri’s (Iranian, b.1963) The Secret Garden, 2009, sold for $987,750, with 9 collectors competing against one another.

  •   An auction record was set for Chafic Abboud (Lebanese, 1926-2004), when his LE CHEMIN D’ALEP sold for $387,750 and for Safwan Dahoul’s (Syrian, b. 1961), Rêve 16 which sold for $219,750.

  •   Three exclusive works from Lalla Essaydi’s (Moroccan, b.1956) latest series, sold to raise funds for a monograph of her work, made a total of $213,750 and her Bullets Revisited #3triptych set a new world auction record when it sold for $81,250.

  •   The part II sales continue to attract new buyers and offer emerging artists an international platform for their work. This season, across both sales, of those that registered to bid, 24% were new to Christie’s Dubai.

  •   Ayman Baalbaki’s Al Moulatham, 2010, sold for $105,750 against a pre-sale estimate of $15,000- 20,000.

  •  The top lot of the part II sale was Louay Kayyali’s, Flower Boy, which sold for $135,750. This strong price followed strong prices for the artist in part I and shows there is still strong demand for good works by modern masters. 

(Press release from Christie’s)

 
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