Art Basel Qatar and Sotheby’s “Origins II” Auction: A New Era in the Gulf’s Art Market
As Art Basel Qatar captures the spotlight on the Gulf’s burgeoning art scene, Sotheby’s second auction in Saudi Arabia offers early insights into market trends and regional tastes. The “Origins II” auction, held on January 31, reflects a notable shift in buyer preferences, showcasing a stronger appetite for local talent while signaling a more tempered response to international artists.
Auction Results: A Step Up from Last Year
Comparing this year’s results with Sotheby’s inaugural Saudi auction just a year prior reveals a significant improvement. The 2025 event realized $14.4 million from 140 lots with a sell-through rate of 67%, landing just above expectations. This year’s more streamlined sale featured 67 lots and achieved a robust hammer total of $15.4 million, nearing the pre-sale high estimate of $16.6 million and boasting an impressive sell-through rate of 89%. According to Sotheby’s, approximately one-third of the buyers hailed from Saudi Arabia, echoing last year’s statistics.
A Focus on Regional Artists
Key to the auction’s success was the emphasis on Arab modernists and established names from the postwar and contemporary Western art scene. This year saw a shift away from luxury offerings towards blue-chip works. For instance, standout pieces included an Alighiero Boetti canvas featuring Arabic script and a Roy Lichtenstein painting of pyramids that resonate with regional references. These pieces complemented those from lesser-known Middle Eastern artists and a small collection of design and Indian art, reflecting a desire to connect local stories with global narratives.
Notable Sales and Artist Recognition
The night was punctuated by excitement, especially with significant pieces by two prominent women artists. Samia Halaby’s Copper (1976) from her Diagonal Flight series fetched an impressive $260,000, surpassing its $180,000 estimate. Halaby, celebrated as perhaps Palestine’s leading contemporary artist, currently has works on display at the ongoing Diriyah Biennale.
The evening’s highlight came in the form of a café scene by Safeya Binzagr. Her Coffee Shop in Madina Road exploded in bidding, ultimately hammering at $1.6 million—a staggering ten times its high estimate—breaking records for Saudi artists. Binzagr’s depiction of everyday life has special significance, and her works are rarely seen at auction, making this sale particularly noteworthy.
Challenges with High-Value Western Art
In stark contrast to the local enthusiasm, some of the auction’s high-profile international offerings faced a lukewarm reception. Pablo Picasso’s Paysage (1963), estimated between $2 million and $3 million, was acquired for just $1.3 million after one bid, indicating that the market may not yet be ready for such high-stakes Western art. Baghestani, after the sale, noted that expectations for this type of piece might have been “too bullish,” suggesting a disconnect between local collectors and certain Western art trends.
The Broader Auction Landscape
The auction also introduced works by renowned Indian artists like MF Husain and Zarina, tapping into the growing diaspora in the region. These works resonated well, with Husain’s Untitled (Woman with Sitar) (1970s) selling for $250,000—well above its $90,000 estimate.
With Sotheby’s recent expansion efforts, including the opening of a new Riyadh office, the emerging markets in the Gulf present both challenges and opportunities. However, there are questions regarding future auction sites within Saudi Arabia as the country reassesses its Public Investment Fund projects.
Insights on Market Dynamics and Future Potential
Fahad Malloh from Sotheby’s emphasizes the untapped potential in Saudi Arabia, home to a population of around 35 million. He notes, “The potential for new client engagement is significant, and we are seeing organic interest from a broad and diverse collector base.” The enthusiasm surrounding local artists suggests a shift in cultural perception, paving the way for a richer artistic dialogue that speaks to both local and global audiences.
As Art Basel Qatar garners global attention, the events of Sotheby’s auction echo a larger narrative in the Gulf—a region increasingly embracing its cultural identity while engaging with the wider art world. The coming years will undoubtedly reveal how these dynamics evolve, making the Gulf’s art market one to watch closely.