WORLD RECORD PRICES FOR ART AND CARS AT BONHAMS $4.4M DUBAI SALE
BONHAMS SIXTH AUCTION IN DUBAI ACHIEVES SALES
OVER 4.4 MILLION US DOLLARS
Jewad Selim sculpture and two BMW cars make world-record prices
Bonhams, the international fine art auction house, is delighted to announce that its sixth auction in Dubai which was held on 11th October realised over $4.4 million, 65% of the lots being sold. The sale was the very first to include Classic Collectors’ Motor Cars to be held in the United Arab Emirates. Alongside the Cars were Modern & Contemporary Middle Eastern and South Asian Art and Fine Wristwatches.
Matthew Girling, CEO of Bonhams (UK, Europe & Middle East), said, “This evening's auction saw competitive local and international bidding taking place in a vibrant, animated and packed saleroom. I am particularly encouraged to witness the confidence that has self-evidently returned to the art market and the positive response we have had from local collectors to the carefully selected sale we put together. The results have exceeded our expectations.
“Bonhams is committed to building its presence in the region and I am really pleased to announce the appointment of Guy Vesey as our new Regional Director based in Dubai. Guy is an addition to our already established team and I am looking forward to working closely with him on expanding our business in the UAE and further throughout the Middle East”, he added.
James Knight, International Director of the Motoring Department of Bonhams, said “We offered a wide variety of classics to so that we could gauge the reaction of the market – from a 1930s Lincoln ($82,800) to a 1972 one-off Ferrari Daytona Shooting Break ($300,000). I was encouraged by the levels of interest expressed and firmly believe we have laid the foundation for further motor car auctions here in the UAE. We are particularly grateful to BMW for placing their trust in us by selling two of their museum collection models, a BMW M1 ($264,000) and 3.0CSL ‘Batmobile’ ($218,400), both world-record prices for these cars.”
Highlight of the Modern and Contemporary Middle Eastern Art Sale was the cover lot, a rare fruitwood sculpture by Jewad Selim (Iraq 1919-1961), considered by many to be the father of modern Iraqi art. It sold for a world-record price for the artist of $384,000.
Top lot amongst the fine watches section was a fine and rare 18 carat gold Patek Philippe chronograph wristwatch which well surpassed expectations selling for $74,400.
Bonhams’ Top Ten
Lot No | Description | Price $US | Estimate |
161 | Jewad Selim, Sculpture ‘Mother and Child’ | $384,000 | $60,000-80,000 |
151 | Farhad Moshiri, ‘Map of Iran’ | $360,000 | $120,000-180,000 |
66 | 1972 Ferrari Daytona Shooting Break | $300,000 | $260,000-280,000 |
64 | 1979 BMW M1 Coupé | $264,000 | $165,000-215,000 |
63 | 1975 BMW 3.0 CSL ‘Batmobile’ | $218,400 | $165,000-215,000 |
157 | Ahmed Moustafa, ‘Man in a Rocking Chair’ | $192,000 | $180,000-240,000 |
65 | 1965 Bentley S3 Continental Coupé | $138,000 | $125,000-150,000 |
109 | Ustad Allah Bux, ‘Heer and Ranjha’ | $120,000 | $100,000-150,000 |
Bonhams, founded in 1793, is one of the world's oldest and largest auctioneers of fine art and antiques. The present company was formed by the merger in November 2001 of Bonhams & Brooks and Phillips Son and Neale UK. In August 2002, the company acquired Butterfields, the principal firm of auctioneers on the West Coast of America. Today, Bonhams offers more sales than any of its rivals, through two major salerooms in London: New Bond Street, and Knightsbridge, and a further five throughout the UK. Sales are also held in San Francisco, Los Angeles, Carmel, New York and Boston in the USA; Toronto, Canada; and France, Monaco, Hong Kong, Australia and Dubai. Bonhams has a worldwide network of offices and regional representatives in 27 countries offering sales advice and valuation services in 57 specialist areas. By the end of 2009, Bonhams had become UK market leaders in ten key specialist collecting areas. For a full listing of upcoming sales, plus details of Bonhams specialist departments, go to www.bonhams.com
