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Sotheby's opens Dubai gallery to satisfy Middle East buyers

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(16 Mar 2017) LEADIN:?Sotheby's is aiming to capitalise on demand from Middle Eastern clients by opening a gallery in Dubai, its first in the region.Over the last five years, the 273-year-old auction house says its seen the number of Middle Eastern clients grow by 76 percent.? ?STORYLINE ? ?Good news for UAE art collectors - when hoping to buy prized items from famed auction house Sotheby's, there's now no need to hop on a private jet to London.?That's because Sotheby's has opened this new office and gallery space in Dubai's Financial District.?They're now giving tours of the new gallery space to interested parties.? ?"Sotheby's is delighted to be in Dubai. We are launching our new office and gallery space here in DIFC (Dubai International Financial Centre)," says Edward Gibbs, Chairman of Sotheby's Middle East and India. "We are travelling some highlights from our global sales. We've got modern and contemporary Arab and Iranian art, we've got arts of the classical Islamic world, orientalist paintings, and we've got some extraordinary pieces of jewellery and timepieces, watches from sales in London and New York."To christen its new gallery space, the auction house has brought a number of contemporary and traditional Middle Eastern artworks.?Also on display is a collection of expensive and rare watches. ?The auction house sold the world's most expensive 'super complication watch' for $24 million USD back in 2014. ?Sotheby's is giving Gulf buyers a slightly less expensive taste of that, displaying this 'super complication watch'. Bidding is expected to start from $6.4 to $9.9 million USD.?Gibbs says one of main reasons to open a gallery in the UAE is the sheer number of buyers coming from the region."It's really about the numbers," he says. "We've been looking at the growth of our client base in the region over the many years and over the last five years we see, participants from the Middle East growing at a rate of 76 percent. "Then we drilled down into those figures and we see specifically for the UAE 157 percent increase in the number of participants in our global sales. "And last year alone a 39 percent increase, so that uptick in interest and engagement from our UAE clients has initiated this launch of the office here in Dubai."Gibbs says the move wasn't prompted by Britain's plans to leave the European Union.?He says currency fluctuations around Britain's vote to leave the 28-member bloc have actually had a positive impact on their sales."There is no connection whatsoever between Brexit and our move here," he says."Brexit has interestingly has had a very beneficial effect on our London sales. In fact, we've seen all of our sales since the referendum result back last summer, we've seen all of them performing extremely well. I think the currency fluctuations have actually been tremendous benefit."Some of the paintings on display here will set wealthy collectors back up to $1.4 million USD. Such as this painting by German artist Georg Emanuel Opiz. ? ?The gallery says it will not only display Middle Eastern art and collectables.?"We will bring a whole range of different categories and we've, for this sale, for this particular exhibition, we are showing specifically works from the region, but we have plans for bringing highlights of impressionists, for instance," says Gibbs. "We are talking to our clients, listening to their needs, their wants, their desires all the time and we see that as their tastes evolve and they are collecting patterns develop, we see that they are increasingly international."Some of the world's biggest art collectors are from the Gulf region.?But with the recent drop in oil prices, Gibbs says sales have actually gone up rather than down.You can license this story through AP Archive: http://www.aparchive.com/metadata/you... Find out more about AP Archive: http://www.aparchive.com/HowWeWork

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near possible unhandy useless astonished awestruck confounded overwhelmed shocked staring air aerate aerify air-condition circulate cool eject expel expose fan oxygenate purify refresh be quiet take in airing dubai la chancla Dubai arcade loggia mezzanine patio porch upstairs veranda exhibit salon museum studio hall wing showroom exhibition room attendance public peanut gallery spectators onlookers cloister colonnade gallery mall passageway piazza portico stoa walkway audience admirers assemblage assembly congregation crowd devotees fans following gathering hearers house listeners market moviegoers patrons playgoers showgoers theatergoers turnout viewers witnesses audiences balcony balustrade box catwalk platform stoop terrace columniation corridor peripteros peristyle pillars depository archive arsenal bank bunker cache collection depot magazine repertory repository safe safe-deposit box store storehouse tomb vault warehouse Gallery la chancla amuse appease assuage delight elate 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chancla EAST client consumer customer patron purchaser shopper user emptor prospect representative sucker vendee easy make end user manager owner marketer seller public audience bodies buyers citizens clientele commonalty community country electorate everyone followers following masses men and women mob multitude nation patrons people populace population society suite supporters voters buyer annals chronicles documents excerpts files papers roll writings annal(s) account archive chronicle journal memorial record register catalog\u002Fcatalogue brief bulletin calendar cartulary charts classification compendium directory docket draft enumeration gazette gazetteer hit list index inventory list prospectus roster schedule slate specification syllabus synopsis table catalogs catalogue catalog magazine catalogues depository arsenal bank bunker cache collection depot gallery museum repertory repository safe safe-deposit box store storehouse tomb vault warehouse Archive U.A.E. la chancla uae 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city enclosure kingdom locality neck of the woods neighborhood parcel patch plot precinct quarter section sector square stretch township turf vicinity ward zone whole areas countries citizenry citizens community constituents grass roots homeland inhabitants land native land patria people polity populace public region society soil sovereign state terrain voters urbanity metropolis heaven Arcadia Canaan Elysium Promised Land Shangri-la Zion afterworld atmosphere azure beyond bliss dreamland ecstasy empyrean enchantment eternal home eternal rest eternity fairyland felicity firmament glory great unknown happiness happy hunting ground harmony heights hereafter immortality kingdom come life everlasting life to come next world nirvana paradise pearly gates rapture sky the blue transport upstairs utopia wonderland misery unhappiness hell sorrow dislike heavens King DOM la chancla Kingdom westerly westward facing west westbound westernly westernmost easterly eastern cowboy picture cowboy movie horse opera oater spaghetti western western western movie cowboy story western story Western la chancla Europe la chancla europe employment field trade work bag biz calling career craft dodge function game line livelihood occupation pursuit racket specialty vocation métier what one is into entertainment fun pastime amusement avocation hobby recreation surrender unemployment firm shop corporation partnership factory store venture house organization institution market cartel monopoly setup outfit syndicate mill trust establishment concern Mom and Pop fly-by-night operation megacorp shoestring operation transaction deal industry trading manufacturing selling exchange undertaking bargaining dealings traffic barter free enterprise affairs merchandising commercialism contracts sales industrialism buying and selling capital and labor problem issue interest duty task affair happening point assignment question topic matter responsibility lookout palaver subject hanky-panky beeswax carrying on 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resources savings stake stock substance treasure ways and means wealth wherewithal small debt poverty clientele audience clientage clientry clients constituency cortege dependents following patronage patrons public regulars management ownership club baton billy blackjack bludgeon conk buster convincer cosh cudgel hammer hickory mace mallet nightstick persuader quarterstaff rosewood sap shill shillelagh staff swatter truncheon works Business la chancla behavior conduct habits style of living way of acting circumstances assets capital chances class command degree dowry financial status footing income lifestyle lot means net worth outlook position precedence prestige property prospects prosperity rank rating resources situation sphere standing state station status substance times way of life worldly goods debt poverty poorness culture arts and sciences civilization convention customs development ethnology folklore folkways grounding habit humanism knowledge mores society the arts cultures 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visual arts beaux arts ceramics drawing graphic arts photography sculpture Art la chancla art along with also as a consequence as well as furthermore including moreover together with additionally and plus again along as well besides conjointly further in conjunction with in like manner likewise more more than that on top of over and above still to boot too withal added amassed another augmented bounteous deeper else enhanced exceeding expanded extended extra farther fresh heavier higher in addition increased innumerable larger major massed new numerous other spare supplementary too many wider fewer less la chancla And? And's ball bash blast celebration cheer clambake delight dissipation distraction diversion enjoyment feast frolic fun gaiety game merriment merrymaking party pastime picnic play recreation relaxation relief revelry satisfaction shindig sport spree surprise treat big time blow out divertissement fun and games good time high time leisure activity lots of laughs regalement wingding depression dissatisfaction gloom labor melancholy misery need pain profession sadness seriousness sorrow task unhappiness vocation want work chore drudgery activities act avocation bag ballgame bit deed endeavor enterprise entertainment hobby job occupation project racket scene scheme stunt trip undertaking venture zoo sluggishness immobility unemployment hate laziness inertia indolence inactivity idleness activity affair function gathering reception soiree affairs amusement interest joke lark prank boredom conviviality sociability Entertainment la chancla Brexit la chancla brexit election poll vote mandate ballot franchise plebiscite referendum slate tally ticket alternative appointment balloting choice decision determination judgment option preference primary selection vote-casting aye majority nay secret ballot show of hands suffrage will wish yea yes or no
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