logo

The Official Christie’s Press Release

RELEASE: CHRISTIE’S CROWNS AUCTION WEEK IN DUBAI WITH PART II REALISING $2,260,250

Christie’s concluded its 13th sales season in the region realising a combined total of $5,900,350/AED21,665,204 and establishing 29 new world auction records for Middle Eastern artists.

Tonight’s Part II sale followed the success of last night’s auction and realised $2,260,250 /AED8,295,117, selling 88% by value. In a busy and animated room, this evening’s sale offered works by 16 artists who had never before been represented at auction, all of which sold within or above their high estimate.

Top lot of the evening was lot 106 Louay Kayyali’s The strange Lady Arlette Anhoury, painted in 1962, realising $170,500 /AED625,735 after a fierce bidding battle between room and telephone.

Over the past six years Christie’s in the Middle East has supported a number of charities by offering works of art at auction, raising a combined total of $20 million. This evening we are delighted to have added another $370,000, which will support two further charities: Caspian Art Foundation, which aims to help young students from the region to complete their postgraduate studies at the University of the Arts London; and The Prince’s School of Traditional Arts which was founded in 2004 by HRH The Prince of Wales, and which teaches the practical skills of the traditional arts.

The two lots offered from the private collection of Robert Douaihy to fund the building of the Saliba Douaihy’s gravestone in Ehden, Lebanon raised $106,000 against a low pre-sale estimate of $40,000.

“The October 2012 sales season has demonstrated again the depth of this market and the continuously growing interest in the arts. With 41 young artists represented for the first time at auction in 2012, and with most of them being sought after in the auction room, we continue to lead in the region by offering the most exciting sales platform with the best international reach. We would like to express our thanks to the Islamic Arts Museum in Malaysia, the Farjam Collection, HRH Princess Wijdan M. Al-Hashemi of Jordan and the galleries, all of whom donated works to support the two charities tonight. We look forward to the next sales at Christie’s Dubai, which will be held on 16 and 17 April 2013,” commented Hala Khayat, Specialist of Middle Eastern Art.

 

OVERVIEW 2012

APRIL 2012

OCTOBER 2012

PART I $4,016,300AED14,751,870 $3,640,100AED13,370,087
PART II $2,386,525AED8,763,320 $2,260,250AED8,295,117
SALE TOTAL $6,402,825AED23,515,190 $5,900,350AED21,665,204
SOLD BY VALUE 91% for Part I93% for Part II 96% for Part I88% for Part II
SOLD BY LOTS 85% for Part I88% for Part II 86% for Part I80% for Part II
NEW RECORDS 4 for Part I18 for Part II 5 for Part I24 for Part II
ARTISTS FIRST TIME AT AUCTION 25 16
COUNTRIES PARTICIPATING IN AUCTION 11 for Part I12 for Part II 13 for Part I14 for Part II
TOP LOT Mahmoud Saïd, Marsa MatrouhSelling for $602,500AED2,212,983 Mahmoud Saïd, Pêcheurs à Rosette, selling for $818,500AED3,006,350

 

Related Sale Sale 8060
Modern and Contemporary Arab, Iranian and Turkish Art Part II
24 October 2012
Dubai

 

About Christie’s
Christie’s, the world’s leading art business, had global auction and private sales in 2011 that totaled £3.6 billion/$5.7 billion. Christie’s is a name and place that speaks of extraordinary art, unparalleled service and expertise, as well as international glamour. Founded in 1766 by James Christie, Christie’s has since conducted the greatest and most celebrated auctions through the centuries providing a popular showcase for the unique and the beautiful. Christie’s offers over 450 auctions annually in over 80 categories, including all areas of fine and decorative arts, jewellery, photographs, collectibles, wine, and more. Prices range from $200 to over $100 million. Christie’s also has a long and successful history conducting private sales for its clients in all categories, with emphasis on Post-War and Contemporary, Impressionist and Modern, Old Masters and Jewellery. Private sales totaled £502 million / $808.6m in 2011, an increase of 44% on the previous year.

Christie’s has a global presence with 53 offices in 32 countries and 10 salerooms around the world including in London, New York, Paris, Geneva, Milan, Amsterdam, Dubai, Zürich, and Hong Kong. More recently, Christie’s has led the market with expanded initiatives in growth markets such as Russia, China, India and the United Arab Emirates, with successful sales and exhibitions in Beijing, Mumbai and Dubai.

*Estimates do not include buyer’s premium. Sales totals are hammer price plus buyer’s premium and do not reflect costs, financing fees or application of buyer’s or seller’s credits.

Complete catalogue available online at www.christies.com or via Christie’s Mobile, iPhone, iPad and Android apps.

IF YOU WOULD LIKE TO DOWNLOAD THE PDF VERSION PLEASE FOLLOW THIS LINK :

http://www.christies.com/about/press-center/releases/pressrelease.aspx?pressreleaseid=5897