Official results are out! Christie’s, the international auction house, achieved $5,900,350 sales in Modern and Contemporary Arab, Iranian and Turkish Art auctions held in Dubai on October 23 and 24, 2012. Part I of Christie’s Modern and Contemporary Arab, Iranian and Turkish Art auctions reached US$3,640,100 with 96% of lots sold, half of them above high estimate. Bidders from 13 countries competed for works from across the Middle East, with world auction records set for Gazbia Sirry, Hayv Kahraman, Ramazan Bayrakoglu, Shirazeh Houshiary and Timo Nasseri. The top lot was $818,500 forPêcheurs à Rosette, the 1941 masterpiece by Egypt’s Mahmoud Saïd (below), while modern and contemporary works by Iranian artists Sohrab Sepehri, Farhad Moshiri and Nasrollah Afjehei achieved high prices well above their pre-sale low estimates.
Part II concluded the 13th season at Christie’s Dubai, a year that saw 29 world auction records and participation by new registrants reaching 37%. The sale total of $2,260,250 was led by Louay Kayyali’s The Strange Lady Arlette Anhoury at $170,500 (Above) . Alongside high and record prices for works by Omar El-Nagdi, Ali Banisadr and Reza Derakshani, two oils donated to fund the building of Saliba Douaihy’s gravestone in Lebanon raised $106,000 more than double the low estimate. The auction offered works by 16 artists who had never before been sold at auction; each sold within or above pre-sale expectations.
For full results details, click here.
The upcoming Christie’s Modern and Contemporary Arab, Iranian and Turkish Art will be held 16 and 17 April 2013.
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We may not have such established and valuable artists on our walls in Dubai, but does anyone insure the art they do have ?