The auction house Christie’s staged its third sales “season” in Dubai this week, reaping $15.2 million for international modern and contemporary art, and $16.5 million for contemporary watches and jewels, substantially outperforming the firm’s previous auctions in both categories. The success of the evening sales, which took place Wednesday and Thursday at the Emirates Towers Hotel, suggests that Christie’s has settled in well since establishing itself in Dubai in April 2005.

It was the first international auction house to open a salesroom in the Gulf, though given the rate at which an art market it taking rooting there, it isn’t likely to be the last. Arch-rival Sotheby’s has signed a deal with Abu Dhabi, Bonham’s has opened in Dubai with plans for an inaugural sale this month and the Mumbai- and New-Delhi based auction house Osian’s has plans to open imminently in Dubai - to capitalize on the size and wealth of the UAE’s non-resident Indian community and the skyrocketing process for Indian contemporary art.

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Posted: 11|3|07 at 9:14 am. Filed under: News.