Christie's - Modern & Contemporary Art Dubai

Executive Summary

The Christie's Modern & Contemporary Art Dubai auction included 90 lots, of which 75 were successfully sold, resulting in a sell-through rate of 83.3%. The total auction value, including the buyer's premium, was $2.2 million, while the total hammer price value was $1.7 million, falling short of the total median estimate of $1.98 million and yielding a hammer ratio of 87.1%. This suggests a more cautious approach from collectors, with strategic bidding reflecting a preference for securing works at favorable prices rather than engaging in aggressive competition. The average price per lot was $28,966.56, indicating considerable investment from collectors despite the auction's overall underperformance relative to expectations.