The auction achieved total sales of over US$13 million - almost three times the expected result, with a phenomenal 94% of lots sold.
The auction witnessed the first Middle East artist to achieve an auction sale of over US$1 million with Iranian Farhad Moshiri's stunning Swarovski crystals and glitter on canvas 'Eshgh' (Love) - a sale which also wrote Moshiri into record books as the highest achieving Iranian artist at auction.
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.
"This is an unbelievable result for our first auction in this market, and proves beyond doubt that the United Arab Emirates is an emerging commercial hub for modern contemporary art from the region," said Matthew Girling, Bonhams; Chief Executive Europe & Middle East.
"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."
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Bonhams break three world records at inaugural Middle East auction
- United Arab Emirates: Tuesday, March 04 - 2008 at 11:44
- PRESS RELEASE
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, United Arab Emirates.
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Abut BonhamsBonhams, founded in 1793, is one of the world's oldest and largest auctioneers of fine art and antiques. The present company was formed by the merger in November 2001 of Bonhams & Brooks and Phillips Son and Neale UK. In August 2002, the company acquired Butterfields, the principal firm of auctioneers on the West Coast of America and in August 2003, Goodmans, a leading Australian fine art and antiques auctioneer with salerooms in Sydney, joined the Bonhams Group of Companies.
Today, Bonhams is one of the largest one of the largest and fastest growing auction houses in the world. It offers more sales than any of its rivals, through two major salerooms in London: New Bond Street, and Knightsbridge, and a further 10 throughout the UK. Sales are also held in San Francisco, Los Angeles, New York and Boston in the USA; and Switzerland, France, Monaco, Australia and Hong Kong.
Bonhams has a worldwide network of offices and regional representatives in 25 countries offering sales advice and valuation services in 50 specialist areas.
For more information please contact:
Kelly Smith, MCS/Action, Dubai UAE
Mobile: +971 50 498 3085
Or
Julian Roup
Bonhams Press Office in London
Tel: +44 20 7468 8259
Posted by Eman HassanTuesday, March 04 - 2008 at 11:44 UAE local time (GMT+4)
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