Sotheby's ‘Origins' Inaugural Auction at Diriyah Secures Over $17 mln in Sales
Sotheby's concluded its inaugural auction in Saudi Arabia 'Origins,' on Feb. 8, with a total sale of over $17 million in the fine art and luxury categories. Promising Bids Sotheby's 'Origins' Inaugural Auction at Diriyah
In collaboration with Diriyah Company, the auction captured promising bids from collectors across 45 countries.
Held at Diriyah's Bujairi Terrace, Sotheby's auction marked a turning point for the artistic and luxurious scene in Saudi Arabia.
Interestingly, the auction started with a stunning performance by the Kingdom's pioneering opera singer, Reemaz Oqbi.
'The decision by Sotheby's, one of the most prestigious auction houses in the world, to host Saudi Arabia's first international art auction in Diriyah has reinforced our commitment to becoming a global hub for arts and culture at the City of Earth,' Jerry Inzerillo, Group CEO of Diriyah Company, said. Sotheby's 'Origins' Inaugural Auction at Diriyah
The CEO also stated that the record-breaking auction results stand as a testament to the growing appeal of fine art, culture, and luxury in Saudi Arabia. Moreover, the auction's remarkable success boosts Diriyah's attraction as a premier global gathering place. Saudi Artists
The modern and contemporary art section highlighted works by Saudi artists that surprisingly exceeded their estimates, collectively achieved $1.1 million in sales.
Mohammed Al-Saleem's untitled work witnessed intense competition among four bidders. Through its magnificent prospective that blended between abstract Arabic calligraphy and the artist's vision of Saudi landscapes, the artwork secured a remarkable $660,000 — triple its pre-sale estimate. Abdulhalim Radwi's vibrant 1984 market scene
The auction also featured an online and in the room biddings for Abdulhalim Radwi's vibrant 1984 market scene. After a fierce competition, the painting was sold for a record $264,000. Historic Milestone Sotheby's 'Origins' Inaugural Auction at Diriyah
'For many years, Saudi Arabia's cultural expansion has been a source of great inspiration to us at Sotheby's. The auction marked a historic milestone in the art market of the region, set against the backdrop of Diriyah, the birthplace of the Kingdom and a burgeoning new hub for culture,' Ashkan Baghestani, Head of Sale for Fine Art, Sotheby's, stated.
Baghestani illustrated that the results of the inaugural sale represent a clear signal of the depth of appetite that exists for art, as well as 'the thirst that is ready to be unlocked, of which tonight was a successful next step.' International Sales
As for international sales, Fernando Botero's Society Woman sold for $1 million and Banksy's Subject to Availability secured $1.2 million. Moreover, René Magritte's L'État de veille gained $1.2 million and Fleurs by Pablo Picasso went for $204,000, more than 3 times its estimate. Rene Magritte's 'L'Etat de veille'
Surprisingly, Louay Kayyali's Then What?? fetched $900,000, setting a record for the artist and a pair of 2024 UEFA European Championship-worn boots signed by Cristiano Ronaldo went for $33,600. Meanwhile, a diamond Himalaya Birkin by Hermès surpassed its estimate, totaling $336,000.
Related Topics:
'Origins': Sotheby's to Host First International Auction in Saudi Arabia's History
Sotheby's Launches Historic Auction, Gallery in Saudi Arabia
Visual Artists' Works Rise to Prominence Posthumously: Saudi Mohamed Al-Saleem as an Exemplary Symbol
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