Prominent sponsors join Christie's for their inaugural Middle East sale

"Both DMCC and Sarasin-Alpen are connected with a number of the region's leading decision-makers, and will help ensure that the forthcoming auction is well-attended by current and potential collectors," said Lydia Limerick, general manager Christie's Dubai.

"In addition, it is interesting to note that by introducing professional auctioneering to Dubai -ostensibly initiating a highly regulated means of 'buying and selling' - we actually highlight the trading and investment activities offered by DMCC and Sarasin-Alpen," Limerick added.

Commenting on the partnership, Mr. Ahmed Bin Sulayem, Chief Operating Officer, DMCC said: "Christie's has established a name for itself as the leading global market place for works of art, in addition to being a safe guardian for the passage of works of art from one collection to another. By hosting this sale, it is also providing a common networking platform for regional art lovers."

"As the very first international auction house to open its office in the region, Christie's is a very valuable member of the DMCC community and its presence enhances our role as the leading commodities market place in Dubai," said Mr. bin Sulayem.

"We are very happy to partner Christie's in this initiative and look forward to playing a key role in developing the region's appetite for art," he added.

DMCC is a strategic initiative to foster trading of gold, metals, gems and other commodities in the UAE. Launched in 2002, DMCC is creating a series of industry-specific marketplaces in the UAE, aimed at increasing the value and volume of goods traded in and through the region.

Bank Sarasin-Alpen (ME) Limited - a subsidiary of Swiss financial institution Bank Sarasin Group, founded in 1841 - is a private banking boutique based at Dubai International Financial Centre (DIFC).

"The concept of professional auctioning is new to the region and we hope, through our link with Christie's, to encourage the concept of what we call 'Value and Perception,' a critical proposition for all businesses in the region," Mr. Rohit Walia, CEO & Managing Director of Bank Sarasin-Alpen (ME) Limited stated.

Alpen Capital specializes in combining the disciplines of strategy, organization, leadership and finance into an integrated approach, with the aim of helping clients to grow and increase their long-term value.

"By supporting Christie's in the Middle East, we are introducing a new concept of professional selling to the region. It could effectively lead to a financially healthy long-term proposition," Walia concluded.

Christie's forthcoming sale - which will be staged on May 24 at Emirates Towers - is the company's first commercial auction to be held in the Middle East. It is predicted, through the professional code of conduct for which the house is renowned, to set new standards for art buying in the region.