Middle-East: Auction Analysis – May 2015

No. Pages4
ResearchersAnders Petterson
Report TypeAuction Analysis

Momentum is building in the Middle Eastern Modern and Contemporary art market, as more auction houses join in.

Middle Eastern modern and contemporary art market sales grew 21% in 2014; the last sale by Christie’s in Dubai (March 2015) came in 7.6% higher than the previous year, demonstrating continued confidence in art from the region, despite the difficult geo-political situation in the Middle East. With both Sotheby’s and Bonhams holding sales this spring season, the total sales of Modern and Contemporary art from the Middle East amounted to $14,736,227; this is up more than 71.4% compared to last spring ($8,599,042), and up 5.9% from Autumn 2014.

Includes comparative analysis between Bonhams, Christie’s and Sotheby’s.