RIYADH: Sotheby’s inaugural auction in Saudi Arabia, titled “Origins,” concluded on Saturday with a total of $17,283,840 in sales in the fine art and luxury categories.
The historic event at Diriyah’s Bujairi Terrace was a turning point for the Kingdom’s art and luxury scene, with Saudi artists garnering significant attention.
Jerry Inzerillo, CEO of Diriyah Company, highlighted the significance of the collaboration between Diriyah and Sotheby’s.
“A few years ago, we decided that Sotheby’s, as a 277-year-old brand, had to match up with Diriyah because the value systems were the same, and you can’t be Sotheby’s without being in Diriyah,” he said in his opening remarks.
The modern and contemporary art section featured works by Saudi artists that collectively realized $1.1 million in sales.
Abdulhalim Radwi’s vibrant 1984 market scene set a personal auction record, selling for $264,000 after fierce bidding online and in the room. (Supplied)
Mohammed Al-Saleem’s untitled work, sourced directly from the artist’s daughter, led the Saudi work on offer.
The piece, blending abstract Arabic calligraphy with Al-Saleem’s vision of Saudi landscapes, sparked intense competition among four bidders before selling for a remarkable $660,000 — triple its pre-sale estimate.
Abdulhalim Radwi’s vibrant 1984 market scene set a personal auction record, selling for $264,000 after fierce bidding online and in the room.
Ahmed Mater’s “Illumination Diptych (Makkiah Tale)” exceeded expectations at $102,000.
Mater, one of Saudi Arabia’s most acclaimed contemporary artists, is internationally celebrated, with works displayed by institutions throughout the Arab world, the UK and the US.
Rene Magritte’s “L’Etat de veille” sold for $1.2 million. (Supplied)
Maha Malluh’s “Magadeer” (from the “Food for Thought” series), inspired by the cultural and spiritual heritage of the Najd area of the Kingdom, sold for $84,000, also surpassing its estimate.
When it came to international works, surrealist Rene Magritte’s “L’Etat de veille” sold for $1.2 million and Fernando Botero’s “Society Woman” made $1 million. Meanwhile, Banksy’s “Subject to Availability” from his series of vandalised oils, sold for $1.2 million.
The luxury segment dazzled collectors with an extraordinary selection of rare items, such as a Patek Philippe Grand Complication watch, a Cartier diamond necklace from the Art Deco era, and a limited-edition Hermes Birkin bag crafted from exotic leather.
Collectors from 45 countries took part in the auction, demonstrating its global appeal, while nearly one-third of the lots were bought by buyers from Saudi Arabia.
Additionally, more than 30 percent of participants were under the age of 40, reflecting the growing interest in art and luxury items among younger generations.
