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‘Spring’ by Jaber Alwan was sold for $24,417.8

Abu Dhabi auction house art sale rakes in over $160,000

ABU DHABI, June 26, 2018

The latest art sale at Abu Dhabi's premier auction house, Estuary Auctions, created a buzz in the capital as collectors snapped up lots totalling Dh600,000 ($163,330) by highly regarded artists including Faiq Hassan, Faraj Abou and Jaber Alwan.

The highest grossing lot was an oil on board featuring a dye worker by Faiq Hassan which sold for Dh133,000 ($36,204.7) including buyer’s premium. Other featured lots included a 1972 oil on canvas by Iraqi artist Faraj Abou entitled “The Workers”, which provided a vivid depiction of working life on an oil rig and was bought by a private buyer for Dh63,000 ($17,149.6) including buyer’s premium.

The star lot, an acrylic on canvas by Jaber Alwan entitled ‘Spring’, featured a woman reclining by a window, in vivid shades of green and soft pink. This particular lot received a great deal of interest on social media and sold for Dh89,700 ($24,417.8) including buyer’s premium to an absentee bidder.

Speaking of the sale, Steven Poole, auctioneer, said: “We are delighted with the result. As well as being able to bid in person, we live-stream the auction to allow remote real-time bidding, which was key for one of our clients who was unable to attend this time.”

CEO and Founder Ali Al Bayaty, added: “The positive response from art collectors serves to demonstrate that the market for high-quality art in the region is buoyant and we are seeing significant interest in art and antiques from investors who are looking for alternative ways of securing future growth as part of their investment portfolio.”

The auction house is currently accepting consignments for the upcoming auction of antique rugs on October 3 and contemporary art and sculpture on October 31. The auction house can also provide professional appraisals and valuations for art investors and collectors who may be considering realising the value of their investment. - TradeArabia News Service

Tags: Art | auctions | Abu | Dhabi | estuary |

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