Christie’s Dubai Art Sale takes $16.9 Million
Christie's International sold $16.9 million of paintings and jewels in a two-day sale in Dubai . "This is our best collection of Arab and Iranian art ever," said Michael Jeha, Managing Director of Christie's Middle East.
London based Christie's has held two sales of jewellery and art a year in Dubai since 2006. Dubai's first auction of this year raised $40 million, the same as its total sales in 2007. Christie's sold 70 percent of the lots offered yesterday.
The highlight, a trio of vast calligraphy works called 'Triptych (La Passion avec croix, ame et bagages, and triangle bigames)' by Algerian artist Rachid Koraichi sold for $482,500, compared with a $400,000-$600,000 estimate. "It's a bargain for the buyers," said Tariq al-Jaidah, a collector from Qatar, at yesterday's art auction.
"The sale has done well," said Edward el-Shaer, a Syrian art collector. "In other places, works haven't even sold."
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