UAE | Heritage and Culture
Arab artist's work gets record price at Christie's
A spectacular Triptych by Algerian artist Rachid Koraichi fetched Dh1.8 million, a world record price for the artist and the second highest price for a modern Arab work of art, at Christie's Dubai auction on Thursday.
- Staff Report
- Published: 00:00 November 1, 2008
- Image Credit: Supplied Picture
- Christie's Dubai art auction saw a great turnout from private Middle East collectors. Dubai has become an important venue as an international sales centre, officials say.
Dubai: A spectacular Triptych by Algerian artist Rachid Koraichi fetched Dh1.8 million, a world record price for the artist and the second highest price for a modern Arab work of art, at Christie's Dubai auction on Thursday.
A triptych is a panel painting divided into three sections.
Christie's fifth auction of International Modern and Contemporary Art on Thursday netted a total Dh 31.8 million.
This sale follows an earlier auction of jewels and watches which fetched Dh 30.1 million.
Buyer activity at the auction (by lot) was 69 per cent Middle East and Iran, 19 per cent Europe including Russia, 11 per cent Americas and 1 per cent Asia.
William Lawrie, international modern and contemporary art specialist and head of sale, said: "We saw great commitment from private Middle Eastern collectors for many of the exceptional works at this evening's sale, and we saw strong results for Arab art in particular."
"Modern and Contemporary art of the Middle Eastern region has risen to international prominence in a very short time, and is now recognised and celebrated at an international level."
Notable fixture
Jussi Plekkenn, President of Christie's Middle East and Europe said: "Since our first auction in the Middle East in 2006, Christie's sales in Dubai have become a notable fixture of the international auction calendar. There is an enormous appetite and appreciation for art in the Middle East region."
"Not only has Dubai established itself as an international sales centre with increasing numbers of clients participating in its auctions, but we have also seen a significant number of Middle Eastern collectors engage in our auctions elsewhere around the world, including our sales in London, and New York."
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