12-Christie's - Dubai - Iranian Artists

Source Bloomberg

Iranian Artists Star in Christie's $10 Million Dubai Auction

By Matthew Brown

April 29 (Bloomberg) -- Works by Iranian artists, including Parviz Tanavoli and Charles Hossein Zenderoudi, will star in a Christie's International art auction that is expected to raise at least $10 million in Dubai tomorrow.

The two Iranian artists' creations are the most likely to fetch more than $1 million apiece at the sale, said Jussi Pylkkanen, the auction house's European president, in an interview. The sale catalog put a high estimate of $600,000 on both Tanavoli's sculpture ``The Wall (Oh Persepolis)'' and Zenderoudi's painting ``VAV + HWE.''

``The Iranian section dominates at the moment,'' Pylkkanen said. ``I suspect we might make as much as $20 million if it really flies. That's partly a reflection of the quality of the pictures on sale, but also just the growth in the market.''

This will be Christie's fourth art auction in Dubai. Auction houses have been expanding into the emerging markets of China, Russia and the Middle East in recent years, tapping growing personal wealth in some of the world's fastest-growing economies. Crude oil, the region's main source of revenue, rose to a record $119.93 yesterday.

Dubai became the de facto hub of the Middle Eastern art market after Christie's, which vies with Sotheby's as the world's largest art seller, began selling art and jewelry in the sheikdom two years ago. Bonhams held its first auction in the region in Dubai in March.

Moshiri's `Love'

Iran's Farhad Moshiri became the first artist from the Middle East to sell an artwork at auction for more than $1 million when his ``Love'' sold for $1.05 million at Bonham's sale.

Ahmed Mustapha's ``Qu'ranic Polyptych of Nine Panels'' sold for $657,000 at a Christie's Dubai auction onOct. 31, breaking the record for an Arab work of art at auction. Mustapha's ``Meditation on Three Themes from Sura Ya'Sin'' will go on the block at tomorrow's auction with a high estimate of $400,000.

Christie's will continue to hold two Dubai auctions a year, and is looking to stage exhibitions in other Gulf cities in Abu Dhabi, Doha and Saudi Arabia, Pylkkanen said.

``I'd like to see a Turkish section next season,'' he said. ``We may hold a contemporary Indian art sale next year.''

Christie's is also offering $20 million of jewelry and watches in Dubai today. A natural-pearl necklace presented to Egyptian singer Umm Kulthum by the founder of the United Arab Emirates Sheikh Zayed Bin Sultan Al Nahyan may sell for as much as $120,000, the sale catalog says.

To contact the reporter on this story: Matthew Brown in Dubai at mbrown42@bloomberg.net

Last Updated: April 28, 2008 20:06 EDT

05/02/08
Tanavoli's Persepolis sculpture breaks record at Dubai art sale
Press TV -- Iranian sculptor Parviz Tanavoli sets a new auction record as a Middle Eastern artists at Christie's international art sale in Dubai. Tanavoli's sculpture 'The Wall (Oh Persepolis)' reportedly fetched some $2.84 million at Christie's fourth auction of modern and contemporary art in Dubai on Wednesday. 'The Wall (Oh Persepolis)' is a bronze sculpture nearly 2 meters tall covered in hieroglyphics. London-based Christie's announced that it had sold over $20 million of mainly Iranian and Arab artwork in the auction, highlighting works by prominent Iranian artists such as Charles Hossein Zenderoudi and Mohammed Ehsai. Dubai is becoming one of the most popular hotspots for art enhusiasts.