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Thu 17 Sep 2009 01:07 PM

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Christie's expects $11m sales at Dubai auction

Global auction house brings together collection of Middle East art on Oct 27.

Christie's expects $11m sales at Dubai auction
AUCTION DATE: Christies hopes to achieve up to $11m in sales at an auction in Dubai next month.

Christie’s is set to hold its seventh auction of International Modern and Contemporary Art in Dubai next month, with lots expected to fetch up to $11 million.

The auction house said it will bring together an important selection of pictures and sculptures from the Middle East region including impressive examples of Lebanese, Syrian, Egyptian and Saudi Arabian art.

There will also be Indian, Pakistani and Iranian art on offer, and the most important selection of Turkish art ever offered at auction in the Middle East.

The auction will take place at the Jumeirah Emirates Towers Hotel on October 27 and will present a total of 167 paintings and sculptures with individual estimates ranging from $10,000 to $800,000.

The top lot will be Remembrance and Gratitude, a large diptych by Ahmed Moustafa, the celebrated Egyptian artist who holds the world record price for any modern Arabian work of art sold at auction (estimate: $600,000-$800,000).

Christie’s auctions in the Middle East have achieved more than $127 million to date, and totalled $8.8 million in its most recent sales in April.

The global art business had global auction and private sales in 2008 that totalled $5.1 billion.

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