Christies in Dubai sets record for most pricey Arab artwork

CONTEMPORARY MIDDLE EASTERN ART

DUBAI- Christies auctions Ahmed Mustafa's diptych "Remembrance and Gratitude" on October 24, 2009 for a record breaking $662,500.

A Christies auction in Dubai set a new record for the price of a contemporary Arab artwork, fetching $662,500 for a double calligraphy piece by Egyptian artist Ahmed Mustafa titled “Remembrance and Gratitude.” Matoob Business reports Mustafa already held the record for the highest selling Arab artwork, and broke his own auction sales record set with a different artwork in 2007.

Christies not surprised

The record breaking sale was little surprise to Christies, however. The Daily Star reveals Christies had given the work the highest-ever guide price, valuing Mustafa’s diptych at $600,000-$800,000. Christies Middle East and Europe president Jussi Phylkkanen notes:

“Expectations were high, especially with regards to the exhibited works of exceptional quality”

Other high sellers

The second highest selling artwork at $578,500 dollars was “Untitled (Yellow Heads)” painting by India’s Tyeb Metha. Turkish artist Burhan Dogancay’s “Rift” sold for $242,500, and Iranian Charles Hossein Zenderoudi’s “Kharjee Spirit” fetched $218,500 dollars.

Middle Eastern market shows growth

The October 24th auction in total sold 6.7 million dollars worth of artworks, twice the value reached in the last auction that was held in April. The October sale was being viewed by experts as a test for the Middle Eastern art market, which has struggled in the recession as the mega rich expressed less interest in purchasing artworks.

Regarding the sale, AFP reports that Michael Jeha, Christies Middle East managing director commented:

“Despite the global economic crisis… the appetite for art in the Middle East continues to grow, and also the appetite for Middle Eastern arts.”

Jeha continued by saying that since the first auction in 2006, Christies sales in Dubai have risen by 400%.

Related Posts

• Review round up- Saatchi Middle East art show unveiled- which artists are critic favorites? Feb 09
• Abu Dhabi art- a major new art calendar event just announced– July 09
• Latest update on the market for Iranian art– Dec 08
• The Dubai art market and its future– Dec 08

Subscribe to Art Radar Asia for the latest art market news and auction results

First forays for Saudi art in international art market

SAUDI ART MARKET

A group of Saudi artists will appear for the first time at international auction at Christies April sale in Dubai. This follows the inaugural entry of Saudi Arabia to Art Dubai fair last month.

Lulwah Al Homoud

Christies:

Christie’s will be offering a selection of works by Saudi Arabian artists in their sale of International Modern and Contemporary Art that will be held on April 29 in Dubai.

This is the first time that a group of work from Saudi Arabia has been included in their international auction.

The sale will include works by six contemporary artists including Ahmed Mater Al Ziad Aseeri and Lulwah Al Homoud, reflecting the vibrancy of the Kingdom’s young artistic talent.

Michael Jeha, Managing Director of Christie’s Middle East said: We have noticed a significant increase in the number of buyers at our sales from the Middle East with 75 per cent of the Dubai art sale buyers last year from the region, up from an average of 50 per cent in previous years. With the introduction of this group of Saudi Arabian lots we are hoping to continue this trend and further extend the reach of the sales to collectors throughout the region.”

Emirates Business 24/7

Ahmed Mater

Art Dubai

Speaking at a packed press conference full of foreign journalists, Co-Founder and Director of Art Dubai John Martin said  “Among the 26 participating countries, Saudi Arabia has entered the show for the first time with a gallery display of Saudi-based artists,” he added.

Noha Al Sharif

The Jeddah-based Athr Gallery, which recently featured in the “Edge of Saudi Arabia” show in London, will present works by artists such as Shadia Alem, Lulwah Al-Homoud, Baseim Al-Shargi, Noha Al-Sharif, Abdullah Hammas, Ahmed Mater, Bakur Sheikhoon and Ayman Yusri.

Arab News

Related posts:

• Radar picks at Cairo Biennial – Dec 2008 –  Saudi artists on show at the Biennial

Subscribe to Art Radar Asia for the latest Middle Eastern news and trends