Abu Dhabi Takes Centre Stage In Global Luxury Auctions

Sotheby's will stage its first auction series in Abu Dhabi this December as part of a broader push by the emirate to emerge as an international hub for art and luxury. The event, named Abu Dhabi Collectors' Week, is set to run from 2 to 5 December and promises to captivate collectors with offerings spanning fine jewellery, rare watches, collector cars and premium real estate.

The drive behind this initiative stems from strategic investments and cultural positioning. In October 2024, Abu Dhabi's sovereign wealth fund, ADQ, injected $1 billion into Sotheby's, securing a minority stake that helped trim debt and finance global expansion while reinforcing Abu Dhabi's growing cultural influence. Now, in partnership with the Abu Dhabi Investment Office, Sotheby's is anchoring a high-profile auction programme in the emirate.

Collectors' Week will unfold across several phases beginning as early as September, with the first auction scheduled during 'The NBA Abu Dhabi Games 2025' in October. The highlight, however, will be the December gala on Saadiyat Island, hosted at The St Regis Saadiyat Island Resort, strategically timed to coincide with the Formula 1 Grand Prix, Abu Dhabi Finance Week, the Milken Institute Summit and Bitcoin MENA.

Spectacular lots are lined up to dazzle bidders. A 31.86‐carat fancy vivid orangy‐pink diamond known as The Desert Rose-the largest of its kind ever graded-is expected to command $5–7 million. A highly rare Rolex“Oyster Albino” Daytona from the late 1960s or early 1970s could fetch between $500,000 and $1 million. On four wheels, highlights include a 2017 Pagani Zonda 760 Riviera and a 2010 Aston Martin One‐77. A particularly striking showcase will feature three unraced McLaren competition chassis-including cars aligned with Formula 1, the World Endurance Championship, and the IndyCar series-available through the“Triple Crown” project, with a VIP experience that includes factory tours and motorsport privileges.

These auctions follow Sotheby's earlier foray into the region, having held a sale in Saudi Arabia in February, where works by Banksy, Warhol and Magritte fetched strong interest, with cryptocurrency accepted as payment.

Industry data reflect growing appetite among Gulf buyers: Sotheby's reports a 25 per cent increase in clients from the United Arab Emirates over five years, while the nation's wealth is surging-its richest families are projected to control $1 trillion by the end of next year, and Dubai family offices already oversee over $1 trillion in assets.

This expansion also aligns with Abu Dhabi's cultural infrastructure renaissance-including the Louvre Abu Dhabi and the forthcoming Guggenheim Abu Dhabi-reinforcing the emirate's aspiration to be a leading global destination for culture and luxury.

Sotheby's strategic incorporation in Abu Dhabi earlier this year, coupled with its existing presence in Dubai and Riyadh, signals long-term commitment to the region. As Jean‐Luc Berrebi, board member for UAE relations, remarked, this move reflects“deep confidence in the region's dynamic cultural landscape.”

As Sotheby's leans into this high-profile engagement, the emirate is laying the foundations for a new era of luxury auctions-one where culture, commerce and spectacle converge against a backdrop of rising global influence.

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