Sotheby’s, the renowned auction house, is gearing up to make a significant mark on Saudi Arabia’s cultural landscape. The company will launch its first auction in the Kingdom in February 2025, marking a historic moment for the art and luxury market in the region.
The auction, titled Origins, will feature modern and contemporary art, Islamic artifacts, and luxury items such as jewelry, watches, cars, sports memorabilia, and handbags. Ahead of the auction, the items will be showcased in a free exhibition in Diriyah from February 1 to 8.
“This is a very dynamic time for culture in Saudi Arabia,” says Charles F. Stewart, Sotheby’s CEO. “Our presence in Riyadh aims to support the country’s artistic landscape and empower its large youth demographic.”
Diriyah: A Cultural and Historic Venue
The auction will take place in Diriyah, a UNESCO World Heritage Site and the birthplace of Saudi Arabia’s history. This iconic location will feature a two-part auction celebrating local talent and renowned international artists, like Ahmed Mater. Sotheby’s aims to build an international platform for Saudi artists, highlighting various works in painting, sculpture, photography, and print.
“This event will present Sotheby’s offerings to local collectors and newcomers, focusing on our diverse, cross-category curation,” says Ashkan Baghestani. Baghestani is Sotheby’s head of sale and a specialist in contemporary art, with experience in unique curations.
After the auction, Sotheby’s plans to open a new office in Riyadh’s Al Faisaliah Tower, designed by Norman Foster. This expansion shows the auction house’s dedication to promoting regional artists within Saudi Arabia and beyond. The new Riyadh office represents a meaningful addition to the country’s growing art market and cultural landscape.
Vision 2030 and Rising Saudi Art Market
The launch aligns with Saudi Arabia’s Vision 2030, a national initiative to boost cultural engagement. Sotheby’s has reported significant growth in interest from Saudi buyers, with bidders from the country increasing by 125% between 2019 and 2023. Nearly half of Sotheby’s Saudi bidders are under 40, signaling an enthusiastic, youthful audience for luxury and art in the Kingdom.
“The region is a ‘sleeping giant that has woken up,’” says Edward Gibbs, Sotheby’s Middle East and India chairman. The auction house views this moment as pivotal for fostering cultural exchange and dialogue across the art world.
Competitive Landscape and Global Commitment
Sotheby’s move comes shortly after a $1 billion investment from Abu Dhabi-based ADQ, signaling a robust commitment to the region. Christie’s, Sotheby’s competitor, recently obtained a Saudi auction license and is expected to hold its own sales soon. Sotheby’s spokesperson notes, “The Kingdom’s desire to engage globally positions Sotheby’s to encourage dialogue between regions and contribute to Saudi Arabia’s cultural journey.”
With this landmark auction and its new Riyadh outpost, Sotheby’s aims to enhance Saudi Arabia’s global artistic presence, enriching the region’s evolving art and luxury market.
