A painting by a Lebanese artist was sold for almost AED1.5mn at Christie’s Modern and Contemporary Art and Important Watches auction in Dubai on October 18.
Les Années de l'oiseau, The Years of the Bird, by Shafic Abboud (1926-2004) was estimated to sell for between $120,000 (AED440,778) and $180,000 (AED661,167), but ended up selling for $391,500 (AED1.4m).
The second highest selling painting De Chaque Cote, Les Etoiles Fusent, On Each Side the Stars Fuse by French Iranian artist Charles Hossein Zenderudi, was sold for $307,500 (AED1.1m).
The auction also saw a vintage 1972 Panda Paul Newman Rolex and 1978 Patek Philippe Nautilus 40 sell for $199,500 (AED732,564) and $193,500 (AED710,532) respectively.
Total watch sales increased by 46 percent since March 2016 with results of over $3mn (AED14m).
Christie’s auction took place in Emirates Towers and included works from 113 artists in the region. It marked the British houses’ 250th anniversary during which it sold over $26m (AED97m) worth of art and watches in the Middle East in 2016.
“We saw dynamic and enthusiastic bidding throughout the entire auction, which offered the highest percentage of vintage watches since Christie’s held stand-alone watch auctions in the region. The new auction trend for the region is “vintage is king” - or queen, since we see more and more lady collectors participating in the auctions,” said Remy Julia, Watch Specialist, Christie’s Dubai.For all the latest art news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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