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Bonhams fourth Dubai sale makes $1.8m

  • United Arab Emirates: Tuesday, October 13 - 2009 at 15:32
  • PRESS RELEASE

Bonhams, the international fine art auction house, sold over 70% by lot on Monday 12th October, at its Modern & Contemporary Middle Eastern & South Asian Art auction, held at the Royal Mirage Hotel, Dubai (UAE).

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The auction achieved total sales of over $1,800,000, comfortably in line with estimates.

Mathew Girling, Chief Executive (UK & Europe) Bonhams, said:

"I am very encouraged by the turn out at the sale which indicated return in confidence in the art market and in particular the market here in Dubai. The region has seemingly weathered the downturn in the economic market and collectors were notably enthusiastic to bid for the works of art we had on offer. I am optimistic that in 2010, we shall see the Dubai art market firmly back on the road to recovery."


Mehreen Rizvi, Head of South Asian and Middle East Art at Bonhams, added: "The South Asian (India and Pakistan) paintings sold a lot better than expected. The Tagore 'Illumination of the Shadow' went at ten times asking, which was incredible. It shows the strong demand in this region. This has given us a platform to work from and we look forward to the next sale in May 2010 with renewed vigour."
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Bonhams, 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 offers more sales than any of its rivals, through two major salerooms in London: New Bond Street, and Knightsbridge, and a further seven throughout the UK. Sales are also held in San Francisco, Los Angeles, New York and Boston in the USA; and Switzerland, France, Monaco, Australia, Hong Kong and Dubai. Bonhams has a worldwide network of offices and regional representatives in 25 countries offering sales advice and valuation services in 50 specialist areas.

For Press Enquiries please contact:

Karen Talty on +971 50 453 0644
Julian Roup on 0207 468 8259
Rima Ali Al Mashni Posted by Rima Ali Al Mashni
Tuesday, October 13 - 2009 at 15:32 UAE local time (GMT+4)

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