Christie's forthcoming spring sales set to offer more than $30m worth of art, jewellery and watches to the Middle East market

Christie's, the world's leading art business and auction house, has announced today further details of its forthcoming series of sales taking place in Dubai this week, supported by Credit Suisse.

The two-day event will feature an impeccable array of rare Jewels and Watches, followed by an exclusive selection of museum-quality art by renowned Arab, Iranian and Western artists in the International Modern & Contemporary Art sale, staged at Jumeriah Emirates Towers Hotel on April 29 and April 30, respectively.

The much-anticipated series of sales follow the success of the house's autumn auction held in October 2007, which collectively sold for $15,235,725/Dhs55,915,111 worth of art and jewels, establishing 62 new world records.

Private collectors and institutions from across the Middle East and further afield will be among the first to view and acquire a calibre of art never before presented in the region from the most sought-after Arab and Iranian artists including Parviz Tanavoli, Mahmoud Said, and Paul Guiragossian.

In addition to the top echelon of the region's artists, a specially-curated section of 30 works by celebrated Western artists spanning several periods will be a main feature of the modern art sale, including the works of Andy Warhol, Robert Indiana and Anish Kapoor.

"Our latest series of sales brings together the highest quality pieces currently available to collectors, both in terms of contemporary art and jewellery. With each sale we've aspired to raise the bar by offering collectors and art connoisseurs alike an opportunity to experience and come away with pieces that are truly exceptional, by artists and artisans that are great influencers of the region's fast changing cultural landscape," said Michael Jeha, Managing Director of Christie's Middle East.

"We are delighted to continue a sponsoring partnership with Credit Suisse, one of the leading global providers of financial products and services in Private Banking, Investment Banking, and Asset Management. With the backing of Credit Suisse Christie's is proud to be continuing to drive the local art market, and in bringing to Dubai works from across the globe, making art more accessible to the region," Jeha continued.

"As Credit Suisse expands its commitment to the meeting point between art, innovation, and the financial sector, our continued support of Christie's sales in Dubai is a vivid representation of that confluence," said Raj Sehgal, Acting Branch Manager of Credit Suisse Dubai.

This season's International Modern & Contemporary Art sale will offer the works of venerated artists spanning the Middle East and incorporating a diverse cross-section of styles and periods ranging from an exceptionally complex gold leaf, sand and oil on canvas by Syria's Fateh Moudarres titled Wedding in The Kalamoom Mountains, to an elaborately intricate acrylic, crystal, glitter, pigment and vitrail oil on canvas titled I Love You Until Eternity by Iranian artist Farhad Moshiri.

A selection of works by Lebanese painter Paul Guiragossian is also expected to command considerable attention, particularly his oil on canvas titled Celebrations, which is the largest of the artist's work ever to be auctioned off. A recent work by UAE's Abdul Kader Al Rais, Bishra, is a large and powerful calligraphic triptych painting and is expected to outperform its pre-sale estimate.

"We have experienced tremendous growth in the Middle East art scene since entering the market in 2005. The shift in perception is undeniable as the superior quality of art emerging from this region continues to develop in a manner that has significantly impacted regional and international collectors alike," said Jussi Pylkännen, President of Christie's Middle East.

"Since our inaugural auction in May 2006, sales have increased strongly in the international contemporary art arena, jumping from $8.5m in 2006 to $25m within a year. The significance of this growth underscores how collectors have been quick to take notice of art emerging from this region," added Michael Jeha, Managing Director of Christie's Middle East.

Preceding the much-anticipated contemporary art sale is the Jewels and Watches auction offering an exceptional selection of rare gemstones, jewels and watches, valued at an estimated $20m, nearly double that of the first sale in January 2007, for almost exactly the same number of lots offered.

"Exceptional quality and rarity define this third sale of jewels and watches," said David Warren, Director of Jewellery, Middle East. Particular importance will fall on pearls in this jewellery sale season. The 31 lots of gem quality pearls, featured in the sale are significant owing to their exceptional size, fine shapes, beautiful lustre and unusual color range, including grey, black, brown, yellowish orange, purplish grey and greenish grey.. Along with two of the largest pearls ever recorded, this sale also includes one of the most important pearl necklaces to have been auctioned.

Generating considerable pre-sale interest is the extraordinary natural pearl necklace presented as a gift to legendary Arab icon, Umm Kulthum, by His Highness Sheikh Zayed Bin Sultan Al Nahyan, the late ruler of the UAE, being sold by family descendents as a star lot.

"The jewellery and watches sold at Christie's auctions have generated considerable international interest resulting from the pre-sale private viewings held across Europe and the US, and with an average lot value of over $100,000, the pieces selected in this sale are exclusive and appeal to a wide spectrum of discriminating tastes," continued David Warren. The house's jewellery sales have experienced a healthy growth since its inaugural sale in January 2007, with an increase of 40%.

As well as the two superb sales, Christie's is also proud to be exhibiting over $10m of important international auction highlights, to be sold throughout the world in the coming season, in Dubai this week. This is the sixth time that Christie's have staged such an exhibition, and it will include exciting works from South Asian Modern and Contemporary Art in London on 11 June, 19th Century European Art including Orientalist pictures in London on 2 July, Post-War and Contemporary art from New York in May, and London in June, and Jewels and Watches from the forthcoming sales in Geneva in May.

Christie's latest sale series follows the auction house's YouGov Siraj commissioned survey of Gulf residents, released last month, which revealed that in the last year, 60% of participants have purchased some form of art; the most common form being paintings (70%) followed by jewellery and watches (50%). In addition, 90% of respondents had visited a museum/gallery or exhibition in the last year; 60% of respondents demonstrated a wish to further educate themselves about art.