Christie’s, the world’s leading arts business, will hold their fifth auction of International Modern and Contemporary Art in Dubai, on October 30.

The auction will present 157 exceptional paintings and sculptures from the leading artists of the UAE, Iran, Iraq, Syria, Lebanon, Egypt, Algeria, Turkey, Europe and the United States. It is expected to realise $12 million to $18 million.

On October 29, Christie’s will present an auction of Jewels and Watches, which will include jewelry from the world’s leading contemporary designers, natural pearls, rare vintage Cartier and antique Indian jewels.

“Christie’s auctions of ‘International Modern and Contemporary Art’ and ‘Jewels and Watches’ in April 2008 realised over $40 million and saw 6 works sell for over $1 million; the global interest in the Middle Eastern art market is attracting ever-increasing numbers of international collectors and seeing prices move to new levels,' said Michael Jeha, managing director, Christie’s Middle East.

“The market for Arab and Iranian art continues to grow stronger as more and more international collectors compete for the best works on offer,' stated William Lawrie, International Modern and Contemporary Art specialist and head of sale.

Leading highlights of the auction this time include a huge and spectacular triptych by the Algerian artist Rachid Koraichi, two important works by Syrian artist Fateh Moudarres and a strong selection of Iranian masterpieces of the Saqqa-Khaneh School ever seen on the international marketplace.

Other important pieces include the Egyptian works of sculptor Adam Henein and Omar El-Nagdi, a section dedicated to Modern and Contemporary Turkish art, Lebanese works by Paul Guiragossian and Chafic Abboud and leading Iraqi contemporary artist Ismael Fattah.-TradeArabia News Service