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💡 Exploring the Vibrant Market for Middle Eastern Art in Autumn 2024 October and November brought exciting developments for the art world, with six auctions dedicated to modern and contemporary #MiddleEasternArt across London and Paris. Hosted by global leaders—Sotheby's, Christie's, Bonhams, and MILLON Auction—these events featured 438 works by 235 MENA-region artists, achieving an impressive $13.14 million in total sales. Egyptian and Iranian artists made notable strides, driving over $5 million in sales, while works by Saudi, Palestinian, Lebanese, and Syrian artists commanded the highest average values. Mahmoud Said's "Vue de la plage à Cassata en Grèce" alone surpassed $1 million, highlighting a pivotal moment in these auctions. Iranian art, in particular, left a strong mark, making up 16% of the total market with 43 artists and 81 works. With a 65% sell-through rate and $2.1 million in sales, Iranian pieces underscored a growing global interest in the region's cultural narrative. 👉 Dive into the full report here: https://lnkd.in/duQgE5ua What do you think lies ahead for Middle Eastern art on the global stage? Share your insights in the comments! #MiddleEasternArt #ArtMarket #ContemporaryArt #ModernArt #MENAArt #AuctionResults #ArtCollectors #IranianArt #Sothebys #Christies #Bonhams #ArtTrends #ArtInvesting #GlobalArtMarket #ArtExhibition #CulturalNarrative

2024 has been a remarkable year for the Middle Eastern art market, Arab artists and curators. The highlights are many and among them: 1. the largest participation of Arab artists at the #VeniceBiennale 2. the listing of 4 Arab artists on the ArtReview Power 100 list 3. Sheikha Hoor Al Qasimi topped the annual ArtReview Power 100 list and was named the artistic director of the 6th #AichiTriennale and the 25th #Biennale of #Sydney, which will take place in 2025 and 2026 respectively. 4. Lebanese curator Christine Tohmé was appointed curator of 18th #IstanbulBiennale 5. Mohammed Al-Saleem became #SaudiArabia's best-selling artist. His works fetched the highest prices for Saudi artists at both Christie's and Sotheby's 6. Christie's London Modern And Contemporary Middle Eastern Art Including Highlights From The Dalloul Collection achieved stellar results 92% sold by value / 80% sold by lot resulting £4,944,240 / US$6,427,512 in total sales 7. Sotheby's revealed their first office in Riyadh 8. #BeirutNationalMuseum opened the Nuhad Es-Said Pavillion for Culture 9.#GrandEgyptianMuseum has opened its 12 main galleries after more than a decade of delays 10. And Aref Al Rayess made history and became the best selling artist at Middle Eastern Art auctions #arabart #artmarket #assests #investment

📊 Market Report: Performance of Modern and Contemporary Middle Eastern Art at Sotheby’s and Christie’s in 2024 In 2024, Sotheby’s and Christie’s collectively held five auctions dedicated to Modern and Contemporary Middle Eastern art, achieving a total sales value of $13.8 million. Across these events, 319 artworks by 163 artists were presented, with a sales rate exceeding 70%.  Top Performing Nationalities:   Iranian artists led the market with $3 million in sales, followed by Lebanese artists with $2.9 million and Egyptian artists with $2 million.  Top Artists by Sales:   - Bahman Mohasses (Iran): $1.5 million   - Mahmoud Said (Egypt): $1.1 million from a single artwork   - Aref El Rayess (Lebanon): $939,000  The highest-selling artwork across all auctions was "Vue de la plage à Cassata en Grèce" (1963-64) by Mahmoud Said, which achieved a remarkable price of $1.1 million.  For a more detailed analysis of these auctions, explore Artchart’s database or visit the link below for more analysis: 🔗https://lnkd.in/dKNptjqu #ArtMarket #MiddleEasternArt #ModernArt #ContemporaryArt #AuctionReport #Sothebys #Christies #ArtSales #ArtAnalysis #ArtInvesting #ArtCollectors #ArtChart #ArtInsights #ArtWorld #TopArtists

November is the most important month of the annual auction calendar. The action got started in Shanghai and Hong Kong where Christie’s and Sotheby’s staged their respective auctions. The auctions resulted in a rather disappointing sell-through rate of 83%. While these results might suggest a cooling market, they should be viewed cautiously, as the auctions in question were relatively minor within the broader annual context. Attention now turns to New York's highly anticipated auctions, widely regarded as the true barometer of the international auction market. Read our brief report for an overview of the Shanghai and Hong Kong auctions, including highlights of two standout pieces sold. #arteducation #diversification #artinvesting #artinvestment

The Global Appeal of Islamic Art: A Market Rich in History, Geography, and Growth Spanning 14 centuries, three continents, and an array of mediums, the genre of Islamic art holds an unparalleled place in global art history. This term encompasses creations from regions under Islamic rule, producing one of the most diverse art markets in terms of geography, historical periods, and materials. Despite headline-grabbing sales—such as Tipu Sultan’s $14.9 million sword, an $8 million page from the Shahnameh of Shah Tahmasp, and a $7.8 million brass candelabrum—geopolitical and economic fluctuations in the Gulf region have led to considerable volatility in both the value and volume of this market. In 2023, the combined sales of Islamic art at Sotheby’s, Christie’s, and Bonhams in London reached a significant $57 million. Bonhams distinguished itself with an impressive 936.8% increase in sales, primarily driven by the record-breaking sale of Tipu Sultan’s 18th-century sword. This remarkable piece sold for nearly double the previous record for Islamic art objects and seven times its minimum estimated value of $1.86 million. On the other hand, Sotheby’s and Christie’s saw contrasting results in their Islamic art sales, with Sotheby’s experiencing a modest 0.1% increase, while Christie’s faced a significant 54.8% decline. The 2024 Islamic Art auctions began their activities in early autumn, with Sotheby’s, Christie’s, and Bonhams leading the field in showcasing masterpieces from the Islamic world. Sotheby’s Arts of the Islamic World & India auction in October 2024 in London reached total sales of £9.65 million. The highlight of the auction was an 8th-century Umayyad bronze buck, signed by Abdallah ibn Thabit and made for Ubaydallah ibn Jabir, likely from Iraq, which sold for £4.2 million. #IslamicArt #ArtMarket #Auction #GlobalArt #ArtHistory #Sothebys #Christies #Bonhams #CulturalHeritage #InvestmentInArt #ArtCollectors

Mark Rothko’s ‘Untitled (Yellow and Blue)’, sold by Sotheby’s in Hong Kong for USD 32.8 million, highlights the contrasting sentiments currently shaping the art market. On one hand, the sale marked the fourth-highest price ever achieved for a painting in Asia. On the other hand, it fell 30% short of its 2015 auction price. Does this suggest that the Asian art market is thriving or struggling? Can a single transaction truly reflect the market’s overall sentiment? At Partasio, we firmly believe that success in this market requires a bottom-up approach, where each artist and individual painting is analyzed in meticulous detail. #diversification #artinvesting #artinvestment #bluechipart

💥 The New York auctions delivered a much-needed morale boost for the global art market, exceeding expectations in impressive fashion with the blue-chip contemporary paintings segment generating sales of 20% above pre-auction estimates. 🍌 And let’s not forget Maurizio Cattelan’s much-hyped banana artwork, which sold for over USD 6 million, making headlines around the world. 🌟 Once again, these auctions proved a vital truth: quality sells. Top-tier works by globally established artists continue to command premium prices - a reflection of their rarity and the continued demand from collectors worldwide. #diversification #bluechipart #artinvesting #artinvestment

🚨 Art Enthusiasts! The results are in from the Sotheby's Modern British & Irish Art Day Auction held on November 15, 2024, in London, and the insights are compelling. While the auction showcased notable artists and achievements, it encountered some market challenges with a sell-through rate of just 64.9%. Key takeaways include a surprising preference for mid-range artworks, particularly those priced between £10,000 - £50,000, which made up 54% of total value. This trend reflects a conscientious shift among collectors favoring quality over high-end pieces during uncertain economic times. Exciting highlights featured works by Laurence Stephen Lowry and Henry Moore, illustrating the strong emotional connection collectors seek in art today. However, several lots didn't find buyers—an indication of changing tastes in the art world. Curious to know more about the auction's results and what they mean for the future of Modern British and Irish art? Click here to explore the full report! [Read more](https://lnkd.in/ewzbMWNx) #ModernBritishArt #IrishArt #Sothebys #LaurenceStephenLowry #HenryMoore #ArtMarketInsights #AuctionResults

The November auctions in New York, a cornerstone of the art world's calendar, are a critical barometer of market health. This year, Christie’s made waves with the record-breaking sale of René Magritte's ‘L’empire des lumières’ for an extraordinary USD 121 million - the first artwork to surpass USD 100 million at public auction in 2024. These results underscore a highly selective market, where collectors focus their investments on works that meet the highest standards of quality and provenance. Want to stay informed on the latest developments in the global art market? Check out our experts' short report on the November New York auctions. #arteducation #diversification #artinvesting #artinvestment

Ruchir Sharma decodes the 'Top 10 Trends of 2025' with Prannoy Roy on deKoder - presented by India Sotheby's International Realty Trend #1: Reversal in recent pattern of American dominance. Watch the full show: https://lnkd.in/d3hPdJQV