emirates7 - Sotheby’s is set to hold its first-ever auction series in Abu Dhabi this December, marking a major milestone in the city’s growing reputation as a global center for art, culture, and luxury.
Branded as Abu Dhabi Collectors’ Week, the four-day event (December 2–5) will showcase an array of prestigious categories, including high jewelry, rare watches, collector cars, and luxury real estate.
The move follows last year’s acquisition of a minority stake in Sotheby’s by Abu Dhabi’s sovereign wealth fund, ADQ—reflecting the emirate’s drive to strengthen its position in the global art and luxury markets. With world-renowned cultural landmarks such as the Louvre Abu Dhabi already established, and the Guggenheim Abu Dhabi nearing completion, the capital is stepping up efforts to cement its role as the Middle East’s cultural hub.
Sotheby’s reports that demand from Middle Eastern buyers has grown significantly, with collectors based in the UAE increasing by 25% over the past five years. “Now is the ideal moment to unite both local and international collectors in Abu Dhabi,” said Josh Pullan, Sotheby’s global head of luxury.
The expansion aligns with the UAE’s broader positioning as a magnet for global wealth, as billionaires, hedge fund executives, and crypto investors continue to flock to the country. By the end of next year, the UAE’s wealthiest families are projected to hold $1 trillion in assets, with Dubai’s financial hub already home to family offices managing a similar value.
The auction will coincide with major Abu Dhabi events, including the Formula 1 Grand Prix and Abu Dhabi Finance Week. Featured highlights include a 2010 Aston Martin One-77 valued at $1.3 million–$1.6 million, a 2017 Pagani Zonda 760 Riviera expected to reach up to $10.5 million, a McLaren Formula 1 Team car chassis, and a diamond collection worth over $20 million.
Branded as Abu Dhabi Collectors’ Week, the four-day event (December 2–5) will showcase an array of prestigious categories, including high jewelry, rare watches, collector cars, and luxury real estate.
The move follows last year’s acquisition of a minority stake in Sotheby’s by Abu Dhabi’s sovereign wealth fund, ADQ—reflecting the emirate’s drive to strengthen its position in the global art and luxury markets. With world-renowned cultural landmarks such as the Louvre Abu Dhabi already established, and the Guggenheim Abu Dhabi nearing completion, the capital is stepping up efforts to cement its role as the Middle East’s cultural hub.
Sotheby’s reports that demand from Middle Eastern buyers has grown significantly, with collectors based in the UAE increasing by 25% over the past five years. “Now is the ideal moment to unite both local and international collectors in Abu Dhabi,” said Josh Pullan, Sotheby’s global head of luxury.
The expansion aligns with the UAE’s broader positioning as a magnet for global wealth, as billionaires, hedge fund executives, and crypto investors continue to flock to the country. By the end of next year, the UAE’s wealthiest families are projected to hold $1 trillion in assets, with Dubai’s financial hub already home to family offices managing a similar value.
The auction will coincide with major Abu Dhabi events, including the Formula 1 Grand Prix and Abu Dhabi Finance Week. Featured highlights include a 2010 Aston Martin One-77 valued at $1.3 million–$1.6 million, a 2017 Pagani Zonda 760 Riviera expected to reach up to $10.5 million, a McLaren Formula 1 Team car chassis, and a diamond collection worth over $20 million.