Sotheby’s Dubai Inaugural Auction Achieves Sales Of US$3.6m

Attracting participants from five continents and 33 countries, with bidders spanning the whole Middle East, Sotheby’s Dubai inaugural auction took in over three million Dollars this week, with 30 percent of the bids coming from the UAE.

Edward Gibbs, Sotheby’s Chairman for the Middle East, said, “The strong sale result is testament to the exciting evolution of the market here in the UAE and the international focus that has reached an all-time high. The sale’s offering was sourced internationally and united by the common thread of the appeal and influence of the Middle East across artistic disciplines and eras. Having seen the number of our UAE clients buying in our sales increase by over 80 percent in the last five years, tonight’s sale here in Dubai saw us take the next step. As much as 30 percent of of the participants in the sale were from the UAE, but of equal importance is our contribution to the market here by drawing international buyers, reflecting just how engaged the art world is with the region, as well as the extraordinary quality of the works.”