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FINANCIAL NEWS
Christie’s sales at two Dubai auctions hit USD7.3m
01 Nov 2011
(MENAFN) Christie’s Middle East director, Isabelle de La Bruyere, said that during the recent two auctions that were held in Dubai, the firm’s sales of modern and contemporary Arab, Iranian and Turkish works reached USD7.3 million, reported Arabian Business.
Bruyere added that Christie’s Dubai was launched in the emirate five years ago, and recorded the highest-grossing auction of Middle East art in October with USD31 million.
She also said that the privately owned auction house had 85 percent of its buyers from the Middle East and North Africa (MENA) region when it was first launched in Dubai, however, at the current time, the number went down to 65 percent, since the number of international clients grew.
It is worth noting that Christie’s sales during the year’s first six months jumped 15 percent, driven by USD10.8 million in sales in the Middle East, in addition to auctions of contemporary works by artists including Andy Warhol.
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