Event Date16 April 2013 | Live auction 8061

Modern and Contemporary Arab,Iranian and Turkish Art Part I

Modern and Contemporary Arab,Iranian and Turkish Art Part I

Sale Overview

Collectors from around the world brought their passion and energy to drive the sale total at Christie’s 14th consecutive sale season of Middle Eastern art, well above the high estimate. 103 works of art representing 13 different countries made a total of $6,384,750 across two evening sales held on April 16 and 17, 2013. This was against a pre-sale high estimate for the sales of $5.5 million, and the auctions averaged 93% sold by lot, a clear indication of the success of Christie’s commitment to bring art from the Middle East to a global audience. Among the 28 lots in the part I sale, 5 auction records were set for leading artists from the region, a measure of the quality of the works offered. The saleroom applauded as Farhad Moshiri’s The Secret Garden, 2009, sold for $987,750, with 9 collectors, 2 in the room and 7 on the telephones, competing fiercely against one another to acquire it. The giant bear made entirely of light-reflecting crystals, had created quite a following during the exhibition in Dubai, and was a masterpiece by the artist.

Michael Jeha, Managing Director of Christie’s in the Middle East, said: "We are very pleased with these results. Last night’s Part I sale out-sold the previous two sale seasons by value, proving the market responds extremely well to carefully curated sales with great works by artists of high caliber, a pattern not restricted to our sales in Dubai. The auction was 95% sold, with only two works unsold. The price for the Moshiri was just shy of the record price set at the height of this market in 2008. Since then, the increasing interest of international buyers and the maturing of an ever-increasing group of informed and committed local collectors, continues to provide us with a sustainable market from which we will continue to build our business in the region."

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