Dubai Auction Sets Records

By Staff Reporter of the Sun | May 2, 2008

Parviz Tanavoli's sculpture "The Wall (Oh Persepolis)" set a new world record for modern Iranian art when it sold for $2.84 million at Christie's International Modern and Contemporary Art auction in Dubai on Wednesday night. The sale also marked the highest price ever paid for a work of art at auction in the Middle East. Mr. Tanavoli's piece, a nearly 6-foot-tall bronze sculpture covered in hieroglyphics, was one of many works by Middle Eastern artists that dominated the auction.

"Christie's continue to drive and dominate the market for contemporary Middle Eastern and Iranian art, and this evening's auction was another landmark event for the art market in the region," the auction house's International Modern and Contemporary Art specialist and head of sale, William Lawrie, said in a statement.

The evening followed Tuesday's Jewels and Watches auction; collectively, the two events grossed more than $40 million, far exceeding the London-based auction house's expectations.