Sotheby’s will be holding its first series of luxury Marquis Auctions in Abu Dhabi in December this year. Sales will be known as Abu Dhabi Collectors Week from December 3-5 and will span the art exhibitions of cars, watches, jewelry and real estate, as well as the “Museum Quality” from the old masters to the modern day.
The auction organized in partnership with the Abu Dhabi Investment Office (ADIO) will be held at the St. Regis Saadiyat Island Resort during “one of the busiest and most active weeks in the region”, Sotheby’s said in a statement that Abu Dhabi Grand Prix said Abu Dhabi Grand Prix, Abu Dhabi Grand Prix.
Saadiyat Island is home to the Louvre Abu Dhabi and the upcoming Guggenheim Abu Dhabi and the Zayed National Museum.
“This is a major strategic moment for Sotheby’s and an expansion of our global footprint,” Josh Pullan, global head of Sotheby’s luxury division, told Artnews. “The rise of the Middle East’s participation in our global auctions has been building momentum in recent years, especially for customers from the UAE. That’s why the auctions are held in Abu Dhabi is so ambitious, important statement–we intend to have a real impact on our business and market. Abu Dhabi has experienced a huge moment in the outline of culture and luxury.”
Abu Dhabi Collector Week will follow Sotheby’s first foray into Saudi Arabia when the Kingdom’s first international auction was held in February. According to a report by Dubai retailer and distributor Chalhoub Group, the House’s tilt to the Middle East appears to be aimed at taking advantage of the region’s booming luxury market, which grew 6% last year to nearly $13 billion.
The move seems to pay off: Sotheby’s reported earlier this year that it set a record buyer from the region in 2024.
“Abu Dhabi has become a leading global destination for culture and luxury anyway,” Katia Nounou Boueiz, head of UAE and vice president of the Middle East, said in a statement. “In this spirit, we are delighted to unite with Adio to demonstrate our vision for future collection and luxury experiences.”
Title batches include The desert risesthe largest bright orange pink diamond ever. The pear-shaped diamond weighs 31.86 carats, “radiates out a unique, pink and orange mixture like sunsets – a gem of aesthetic and gemological significance,” the auction house said. Its estimates are $5 million to $7 million. Rare Rolex “Oyster Albino” watches produced in the late 1960s and early 1970s will also be available, with an estimated $500,000 to $1 million. The top car on sale is the 2017 Pagani Zonda 760 Riviera (estimated $9.5 million – $10.5 million).
As art sales continue to struggle, Sotheby’s is increasingly relying on the luxury market. A spokesperson told Artnews This has brought luxury goods sales to more than $2 billion in 2024 (the third consecutive year) and accounted for one-third of Sotheby’s total $6 billion. According to the House, this result is three times its total luxury goods market in 2019 and remains the highest in the industry. Private luxury sales also increased by 350% over the previous year, a spokesperson added.
The relationship between the house and Abu Dhabi is deep. At the end of last year, Sotheby’s reached an agreement with Abu Dhabi-based Sovereign Wealth Fund ADQ to inject cash with $1 billion. This investment not only helps debt houses clean up books, but also positions it as a stronger future. CEO Charles Stewart has been pushing to develop Sotheby’s into a globally renowned luxury brand, beyond the art world, and a hub to the Middle East is part of the strategy.
“With the exclusive debut of the capital’s Global Collector Week, we launch far beyond rare and outstanding works, we reaffirm the cultural depth of the city, which is shaped by the quiet power of true luxury,” Noora Al Fourathi, head of retail at Abu Dhabi, said in a statement.
