Displaying an enthusiasm for art

The growing interest in arts and culture means the fine art market is thriving in the UAE.

In May 2006, Christie's held its first Middle East art auction in Dubai. Since then, the renowned auction house has sold approximately $100 million (about Dh367 million) of jewellery and art in auctions held here.

"In the Middle East, the interest in arts and culture has significantly increased over the years. There is a tremendous passion within the Middle Eastern collecting community," says Will Lawrie, international modern and contemporary art specialist at Christie's Middle East.

"This has created the opportunity for museums, galleries and art fairs such as Art Dubai to emerge in the region as a part of the local cultural fabric." Lawrie believes the multicultural nature of society in the UAE is reflected in the art that has proven popular in the region.

"Living in this part of the world allows people to get a sense of different cultures," he says. "For instance, Dubai sales have highlighted many Arab and Iranian artists."

Destination UAE

Sawsan Abdul Qader Qadan, owner of 4Walls art gallery in Dubai, agrees. "The UAE is a crossroads and a worldwide destination so the customer base is diverse," he says.

"This allows galleries to collect a wide variety
of art and artists for customers."

Among professionals in the art world, the Middle East is considered an emerging market where tastes are still being cultivated. Qadan believes this is advantageous to potential collectors. "The exciting thing is many up-and-coming artists produce beautiful works that are also quite reasonable in price," he says.

According to Qadan, buyers in the Middle East can be divided into two categories — private collectors and home owners — a trend that is global rather than regional. "Motivation to buy art for these two groups is different," he says. "Private collectors have a passion for art, and often, collect art for investment. Home owners buy art for personal enjoyment."

Auctions held by Christie's in Dubai usually attract
a large number of Middle Eastern and international collectors. Lawrie believes a passion for art is the key to being a successful art collector.

"The most successful investors in art have traditionally been those who collect because they develop a passion and an interest in acquiring art for its own sake," he says. "A collector should truly love the piece and have a connection to it, rather than to view art solely as an investment."