CHRISTIE’S CROWNS AUCTION WEEK IN DUBAI WITH 29 NEW WORLD AUCTION RECORDS FOR 2012

Modern And Contemporary Arab, Iranian And Turkish Art Part I and Part II from 23 – 24  October 2012 realised a combined total of $5,900,350/AED21,665,204

Mahmoud Saïd (Egyptian, 1897-1964)

Pêcheurs à Rashid (Rosette)

oil on panel

Estimate 400,000 – 600,000 U.S. dollars

Price Realized 818,500 U.S. dollars

Christie’s concluded its 13th sales season in the region, realising a combined total of $5,900,350/AED21,665,204 and establishing 29 new world auction records for Middle Eastern artists. The Christie’s October auction of Modern and Contemporary Arab, Iranian and Turkish Art was carried out in two parts.The 29 lot strong Part I sale totalled $3,640,100/AED 13,370,087 and was 96% sold. The sale took place in a dynamic and buzzing sale room with bidders from 13 countries participating either in person, by phone or online via Christie’sLive. The works of art represented 8 different nations of the Middle East and new records were set for 5 artists, Gazbia Sirry (lot 8), Hayv Kahraman (lot 14), Ramazan Bayrakoglu (lot 16), Shirazeh Houshiary (lot 22) and Timo Nasseri (lot 30) with 50% of lots sold above their high estimate.

The success of first part of the sale continued the next day. Part II 103 lot sale realised $2,260,250 /AED8,295,117, selling 88% by value, this evening’s sale offered works by 16 artists who had never before been represented at auction, all of which sold within or above their high estimate. Top lot of the evening was lot 106 Louay Kayyali’s The strange Lady Arlette Anhoury, painted in 1962, realising $170,500 /AED625,735 after a fierce bidding battle between room and telephone.

Over the past six years Christie’s in the Middle East has supported a number of charities by offering works of art at auction, raising a combined total of $20 million. This evening we are delighted to have added another $370,000, which will support two further charities: Caspian Art Foundation, which aims to help young students from the region to complete their postgraduate studies at the University of the Arts London; and The Prince’s School of Traditional Arts which was founded in 2004 by HRH The Prince of Wales, and which teaches the practical skills of the traditional arts.

Fuente- www.christiesrealestate.com

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