“The move to one sale per year has been something we have been discussing for some time now. We needed to respond to the new needs of Middle Eastern collectors who are hungry for a curated sale of quality works…Collectors have matured in their choices and their buying. The majority of top modern Middle Eastern artworks have been sold over the last 10 years and are not yet back out on the market And most institutions have no intention to resell their work. This means that now we are looking at helping the contemporary scene and the contemporary market.”
-Caroline Louca, auction house Christie’s new managing director in the Middle East, on the decision to nix its annual March auction in Dubai, an indication of the overall success of the market. The event will now be folded into a London sale scheduled to take place in October. [artnet.com]
