Bonhams creates record at debut ME auction
Dubai, March 4, 2008
Bonhams, the UK-headquartered international fine art auction house established since 1793, broke three world records at its inaugural Middle East art auction in Dubai.
The auction achieved total sales of over $13 million – almost three times the expected result, with a phenomenal 94 per cent of the lots sold.
The auction witnessed the first Middle East artist - Iranian Farhad Moshiri - to achieve an auction sale of over $1 million with his stunning Swarovski crystals and glitter on canvas titled ‘Eshgh’ (Love).
The sale also wrote Moshiri into record books as the highest achieving Iranian artist at auction, said a top Bonhams official.
“This is an unbelievable result for our first auction in this market, and proves beyond doubt that the UAE is an emerging commercial hub for modern contemporary art from the region,” said Matthew Girling, Bonhams; chief executive Europe & Middle East.
Breaking the world record for an auctioned Pakistani work of art, Gulgee’s ‘Polo Player’ sold for $336,000 – more than four times the reserve.
“We’re firmly committed to the region and Bonhams is now here to stay - we feel this is definitely the start of something big. With the support of our partners, the Al Tajir family, we now look forward to further building our business in the Middle East.”-TradeArabia News Service