Sotheby’s will host its first auction in Saudi Arabia on February 8, 2025, marking the first international auction to take place in the country. This landmark sale, “Origins,” will be held in the historic town of Diriyah, located on the outskirts of Riyadh.
“This is an important milestone in our relationship with the Kingdom, and we look forward to hosting our inaugural auction to mark the occasion, fittingly in a historic location of such immense cultural significance,” said Charles F. Stewart, CEO of Sotheby’s.
The two-day evening auction will feature a selection of work by Saudi artists alongside international figures. In addition to artwork, luxury items such as jewelry, watches, cars, sports memorabilia, and handbags will be on offer. The lots featured in “Origins” will be on view in a free public exhibition from February 1 through 8, 2025.
“We wanted to inaugurate our official new home in Saudi Arabia with a taste of what Sotheby’s can bring to the doorsteps of both those who have started their own collections, and others who are about to enter this world for the first time,” said Ashkan Baghestani, Sotheby’s head of sale and contemporary art specialist. “As such, we wanted this first sale both to serve as an introduction to our offering and to embody the cross-category spirit we pride ourselves on curating.”
The decision to host the auction follows Sotheby’s formal incorporation in Saudi Arabia at the end of last year. A new Sotheby’s office is set to open in Riyadh’s Al Faisaliah Tower, the first skyscraper in the country.
“This is a very dynamic time for culture in Saudi Arabia. Sotheby’s has been active in the Kingdom for a number of years now, and we’ve witnessed the blossoming of the cultural scene with great interest,” said Stewart. “In committing to a physical presence in Riyadh, we’re supporting the enrichment of the artistic landscape of the country, which will empower the large youth demographic of Saudi.”
Sotheby’s presence in Saudi Arabia can be traced back to 2013, when the auction house hosted a highlights exhibition in the country. Sotheby’s went on to host Saudi Arabia’s first-ever charity auction in 2017, and later supported its first Contemporary Art Biennale and participated in the Riyadh International Book Fair.
Just last week, Sotheby’s closed a deal with the Abu Dhabi–based wealth fund ADQ, which delivered a $1 billion investment in the auction house. Shortly thereafter, the auction house announced that it had closed a deal to acquire the Breuer building on New York’s Madison Avenue, the former home of the Whitney Museum of American Art, which will become its new global headquarters.
from Artsy News https://ift.tt/KpO5k0T
No comments:
Post a Comment