Sotheby’s hosted the first ever auction dedicated to fine art and luxury in Saudi Arabia. The 250-seat space was filled to capacity, with many additional attendees choosing to stand in order to witness the auction. The evening opened with a performance by Saudi Arabia’s leading opera singer, Reemaz Oqbi, who delivered a rendition of a piece from Bizet’s Carmen as well as ‘O Sole Mio’. Jerry Inzerillo, CEO of Diriya Company Group, then welcomed the full house of attendees before handing over to Oliver Barker, Sotheby’s chief auctioneer, to open the bidding on what marked a landmark moment for the region’s art market, and an historic moment for Sotheby’s. Later in the sale, the gavel passed to Jessica Wyndham, Sotheby’s senior jewellery specialist. Between them, the two auctioneers fielded bids from collectors in the amphitheatre and on the phones, dialing in from across the region as well as America, Europe and Asia. 

Total sales from the night came to $17,283,840 and the exhibition hosted almost 2,500 visitors, as well as over 700 visitors to the panel discussions. Collectors from 45 countries participated in the auction, with almost a third of lots sold to buyers from within the Kingdom of Saudi Arabia. Over 30% of participants were under the age of 40. Vincent Brasesco, head of sale for luxury, said: “The Middle East is a region rich with history and tradition – particularly in the creative arts. “The enthusiasm that we witnessed in the week leading up to the auction demonstrates the ongoing evolution of the market here, in tandem with a continued celebration of the world class artisans from the great brands of the world like Cartier, Rolex, and Hermes.” Jewellery lots sold included a pair of pendant Graff earrings, featuring pear-shaped diamonds, which realised $780,000.