CoverPage
Page3Page4

Middle East & North Africa: Modern and Contemporary Art Report – July 2017

No. Pages9
ResearchersSarah Aziza Hameed, Peter Gerdman
Report TypeAuction Analysis
MembershipAnalyst

Christie’s Dubai kicked off the auction season with their March 2017 Modern and Contemporary Art sale, resulting in a total of $6,410,500 (excluding buyer’s premium) against the pre-sale estimate of $4,714,00 to $6,482,000. This was 26.4% higher than Christie’s Dubai sale in October 2016, and 3.7% lower than in March 2016.

Tehran Auction’s 7th sale in Tehran of Classical and Modern Iranian Art took place in July 2017, achieving a total of $8,020,070, within the pre-sale estimate of $6,351,386 to $9,044,890. The result was 4.3% lower than their previous sale in May 2016.

Sotheby’s 20th Century Middle Eastern Art sale took place in London on April 25th and totalled $3,644,692, above its pre-sale estimates of $2,605,093 to $3,483,727. The auction total was 20% higher than the previous sale in October 2016. The majority, 95%, of the sale was focused on modern Arab masters, with only few contemporary lots.

Bonhams raised $2,342,069 in London on April 26th, 19.5% higher than their 2016 spring sale. Following the trend of the other auction houses, Bonhams also had a larger representation of modern artists, accounting for 83% of the lots.


REPORT CONTENT:
COMPARATIVE PERFORMANCE (SOTHEBY’S, CHRISTIE’S, BONHAMS AND TEHRAN AUCTION).
TOTAL SALES VS ESTIMATE (2007 – 2017).
AVERAGE PRICES 2007 – 2017.
HAMMER VS ESTIMATE RATIOS 2007 – 2017.
SECTOR ANALYSIS – BY MODERN &  CONTEMPORARY ART 2007-2017.
SECTOR ANALYSIS – BY COUNTRY OF ORIGIN 2016 & 2017.
TOP AUCTION PRICES.