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25th March 2017  admin  Category :

Total collections at the auction were the highest ever for a watch auction in the Middle East.

The most expensive watch has just been sold at a Dubai auction.

March auctions at Christie’s saw a 1981 Patek Philippe watch go for just under $500,000 (Dh1,836,450), while total collections for the auction came in at $13,437,688.

The Modern and Contemporary Middle Eastern Art sale held on March 18 achieved a total of $8,079,375, setting new world auction records for 18 artists, including Marwan Sahmarani (Lebanese, b. 1970), Nazir Nabaa (Syrian, 1941-2016), Mahmoud Sabri (Iraqi, 1927-2012) and Koorosh Shishegaran (Iranian, b. 1945).

The Important Watches auction realized $5,358,313, the highest total for any watch auction in the Middle East.

Michael Jeha, managing director Christie’s Middle East commented: “Christie’s reinforced its position as market leader in the region for the 12th consecutive year. The demand for top quality art remains extremely strong and the buyer base for Middle Eastern art continues to deepen and internationalize. There was fierce bidding in the room for the most established artists, with eighteen new auction records being set in the process.”

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