Great success for Christie’s during Dubai Art Week – March 19th 2014

Christie’s could not have chosen a better time than the Dubai Art Week to hold its art auctions in the cultural capital of the Middle East. The sale of March 19th totaled in fact the highest result since 2010 with $ 10.6 million, an increase of 65 % compared to a year ago.
Private collections have triumphed in the catalog of 140 lots, among which that of Modern Egyptian Art Pharos which from an estimate of $ 1.4 million was close to $ 4 million and has also led the top lot of the sale, Construction of the Suez Canal by Abdul Hadi El- Gazzar (1925-1965), sold at $1 million against a pre-sale estimate of $ 100-150,000. The previous record for the artist had been reached in 2011 at Christie ‘s for $ 746.500 for an oil painting. From the same collection, a painting by Mahmoud Said (1897-1964) entitled Haguer ,1923, tripled the high estimate reaching $ 663.750. But the lot with the higher estimate of the catalog has not found a buyer. It is a fiberglass sculpture of Iranian artist Parviz Tanavoli, estimated at $ 350,000. Among the most international artists of the contemporary scene of Iran, Ali Banisadr (1976) has beaten its own record with Black 3 sold at $ 339.750 from an estimate of $ 120-180000 . Farhad Moshiri (1963) follows among the top lots with an oil on canvas sold for $ 207.750.

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