DUBAI, United Arab Emirates,
March 13, 2017 /PRNewswire/ --
Sotheby's (NYSE: BID) is delighted to announce the official opening
of Sotheby's Dubai in the heart of
the Dubai International Financial Centre, UAE. The new office
and gallery space complements Sotheby's existing network of offices
across the region and will serve clients through an expanded
program of year-round events, including selling and non-selling
exhibitions, events and talks. As part of the opening
celebrations, highlights from Sotheby's upcoming global auctions of
Modern and Contemporary Arab and Iranian Art, Treasures of the
Islamic World, Jewelry and Watches will be on exhibition from 14-19
March.
"The Middle East, and
especially the United Arab
Emirates, has grown and prospered at an extraordinary pace
and Sotheby's is proud to celebrate forty years of service to
clients in the region by opening a new gallery and office space in
Dubai," said Tad Smith, Sotheby's President and CEO. He
added, "We look forward to bringing our history and expertise and
contributing to an even greater future on this fulcrum of the
world's jewelry, art, and luxury car markets."
The launch of Sotheby's Dubai
follows significant growth in the number of Middle Eastern client
participating in the Sotheby's global sales, resulting in a 30%
increase in the number of buyers from the region over the last five
years. While the growth is across categories – including
Contemporary, Impressionist, Modern and Middle Eastern Art, as well
as Old Master Paintings – Jewelry is an area of particular focus,
driving a 46% increase in the total value spent by clients in the
region from 2015 to 2016.
Additionally, all Sotheby's sales are open to online bidding and
nearly 20% of purchases across the business were made online in
2016. This gateway has gained significant traction with Middle
Eastern clients resulting in a 47% increase in the total value of
their purchases online.
About Sotheby's
Sotheby's has been uniting collectors
with world-class works of art since 1744. Sotheby's became the
first international auction house when it expanded from
London to New York (1955), the first to conduct sales in
Hong Kong (1973), India (1992) and France (2001), and the first international
fine art auction house in China
(2012). Today, Sotheby's presents auctions in 10 different
salesrooms, including New York,
London, Hong Kong and Paris, and Sotheby's BidNow program allows
visitors to view all auctions live online and place bids from
anywhere in the world. Sotheby's offers collectors the resources of
Sotheby's Financial Services, the world's only full-service
art financing company, as well as the collection advisory services
of its subsidiary, Art Agency, Partners. Sotheby's
presents private sale opportunities in more than 70 categories,
including S|2, the gallery arm of Sotheby's Global Fine Art
Division, and two retail businesses, Sotheby's Diamonds and
Sotheby's Wine. Sotheby's has a global network of 80 offices in 40
countries and is the oldest company listed on the New York Stock
Exchange (BID).
Browse sale catalogues, view original content, stream live
auctions and more at www.sothebys.com, and through Sotheby's apps
for iPhone, iPad, Android, Apple TV and Amazon Fire
New York | +1 212 606
7176 | Lauren Gioia |
Lauren.Gioia@Sothebys.com | Dan
Abernethy | Dan.Abernethy@Sothebys.com
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SOURCE Sotheby's