Christie's Dubai sets 19 new auction records at last night's art auction

Christie's Dubai sets 19 new auction records at last night's art auction

Exceeded pre-auction estimates by $4 million

On Wednesday evening, works from eight important family collections from across the region and around the world created $12.5 million at Christie’s Dubai – surpassing the $8.5 million estimate

Yesterday, following the sale of Modern and Contemporary Arab, Iranian and Turkish Art, Christie's Dubai rose the $8.5 million high estimate to $12.5 million – the highest sale total for the category since 2010.

The sale was 95% sold by value, an indication of the continuing strength of the art market and the demand from collectors around the world for works of top quality by the leading artists from the region. Among the 121 lots in the sale, 19 new artist records were set, achieved by works from Hamed Ewais, Shafic Abboud, Bahman Mohassess, Koorosh Shishegaran and Samia Halaby.

Michael Jeha, Managing Director of Christie's Middle East, said: "An esteemed group of private collectors and artists' estates entrusted us with the sale of their works tonight. They have followed this market closely since we held our first sale here in 2006 and decided that  now was the right time to offer them for sale at auction. Demand was high for all the works  that the Christie's experts selected for this curated sale. Bidding came from international and regional collectors who had to compete fiercely on the telephone, in the room and online, to acquire them. Tonight's sale truly re-affirmed the international appeal of the best Middle Eastern art."

The Rashid Centre for Disabled in Dubai also benefited from the $120,000 sale of an F.P. Journe Chronomètre Bleu Byblos.