Tonight Christie’s concluded the live auction sales of its 15th season in the Middle East which collectively realised $12,001,375 / AED44,064,000, representing a 100% increase to April 2013 with sell through rates of 83% by lot. Clients from 20 countries participated in these auctions while the 51 lots which are for sale online until November 11, continue to attract similar international interest. A total of 24 new word auction records for artists from the region have been established during these two days of sales.
Christie’s, the undisputed market leader in Middle Eastern Modern and Contemporary Art, established the highest price ever paid for a painting by an artist from the region, when Fahr El-Nissa Zeid’s Break of the Atom and Vegetal Life sold for $2,741,000 (AED10,064,952). The sale of the piece by Fahr El-Nissa Zeid (Turkish / Jordanian, 1900-1991) also makes her the highest valued female artist from the Middle East, far surpassing the previous record for her work of $1 million set three years ago.