First International Saudi Arabia Auction: On February 8, Sotheby’s will host its first international sale in Saudi Arabia, thus marking a historic turning point in the art and luxury market of that country. Dubbed “Origins,” the two-part nighttime sale in Diriyah will feature an incredible range of fine art, expensive watches, diamonds, digital art, sports memorabilia, and designer handbags. All of the 119 pieces to be auctioned, worth between $16 and $22 million in total, will accept cryptocurrencies for payment on every lot.
This cutting-edge event is not only marking Saudi Arabia’s increasing influence in the international art world but also offers an incredibly diverse variety of objects appealing to collectors and aficionados all over.
Auction Summary
Exclusive watches, fine jewelry, and artwork by world-class artists are among the varied mix of items offered in the “Origins” auction. Some of the more noteworthy objects are broken down below:
Exotic Timepieces
Estimated to be worth $1 million to $1.5 million, the Richard Mille RM038 prototype “Yohan Blake” clock is one of the highlights of the auction. Based on Jamaican sprinter Yohan Blake, who won big at the 2012 London Olympics, this watch was supposed Designed to resist harsh environments, the watch, made of a special magnesium alloy (WE54), weighs only 44 grams. The bright green, yellow, and white pattern echoes the colors of the Jamaican flag.
Other notable clocks include:
- Rolex Reference 6264 Daytona “Paul Newman Musketeer” is estimated to be between $160,000 and $320,000.
- Patek Philippe Reference 5070P-001 is estimated to be between $150,000 and $200,000.
- Cartier Crash (Yellow Gold, 2007) is estimated to have cost between $130,000 – $260,000.
Beautiful Jewellery
The auction has an incredible collection of jewels including:
- Graff Earrings priced at $300,000 to $400,000 with pear-shaped diamonds measuring 9.39 and 8.46 carats.
- Showing an 19.79-carat unheated Burmese sapphire valued at $300,000 – $400,000, Sapphire and Diamond Ring,
- Estimated to sell for $275,000 – $325,000, The geometric design in the 1927 Cartier Art Deco Bracelet incorporates sapphires and diamonds.
Digital Art and Fine Print
This art collection comprises pieces by legendary painters such as Pablo Picasso, Andy Warhol, Damien Hirst, Wassily Kandinsky, and Banksy, among others. It covers various eras and genres. The pioneering Arab painters Louay Kayyali, Samia Halaby, and Mohammad Al Saleem are also well represented.
Hermès Bags and Athletics Memorabilia
The auction has sports memorabilia, digital artworks, and Hermès handbags, so appealing to collectors from many backgrounds.
Glide View of Auction Details
| Category | Top Item | Estimate |
|---|---|---|
| Luxury Watches | Richard Mille RM038 “Yohan Blake” | $1M – $1.5M |
| Jewelry | Graff Pear-Shaped Diamond Earrings | $300K – $400K |
| Fine Art | Picasso, Warhol, Kandinsky | Various estimates |
| Digital Art | Works by KAWS and Banksy | Various estimates |
| Hermès Bags | Rare and Vintage Bags | Various estimates |
| Sports Memorabilia | Exclusive Olympic and sports items | Various estimates |
Original Significance of Culture
The “Origins” auction would fit into Saudi Arabia’s Vision 2030 campaign, which is pursuing to diversify its economy through arts and cultural investment. Saudi Arabia presents itself as the center for art and luxury worldwide by organizing this type of significant event to attract foreign collectors and promote cultural interaction.
Diriyah Season, which celebrates Saudi history and culture, coincides with the event. Between February 1 and 8, visitors can enjoy a free exhibition of the objects to be auctioned in Diriyah’s Bujairi Terace.
The first international auction to be held in the nation, set to change the position of Saudi Arabia in the worldwide art scene, is “Origins”. There is something for everyone in the expected value of $16 to $22 million and a lineup including rare timepieces, great jewelry, and famous artworks. This historical event, which not only gives investors’ an increasing strength of the country but also offers collectors an unmatched opportunity to get rare and precious objects.