Boasting a reputation unparalleled in its service to its clientele and expertise, research and special catering in period, post-war and contemporary art with over 450 auctions a year, it has emerged an indisputable global leader in the business of art sales.

With 53 ground offices in all the major metropolis of the world, Christie’s marked their Middle East presence in Dubai with a spectacular public exhibition and auction sale of over $160 million.

“We started in Dubai around 2005 and quickly discovered that the best way to make relationships in the Middle East is by doing business transactions with them,” said Paul Hewitt, Christie’s International Business Development Director.

With traveling exhibitions, sales and lectures on classic Islamic works in London and New York, and the concurrent expansion of the market through online media, Christie’s has earned a growing and loyal clientele of collectors interested in artwork emerging from the Middle East.

The establishment of their positional strength in Dubai and further plans on expanding business in the Middle East have resulted in the appointment of Hayat Shobokshi as Christie’s consultant representative in Saudi Arabia with the strategic vision of internationalizing Middle Eastern art and promoting it to the global audience.

“We have been studying the market closely and there seems to be a definite interest from the people here. The rapidly growing numbers of galleries is proof enough,” said Shobokshi.

With the new generation of wealthy nouveau Middle Eastern art collectors having played a pivotal role in Christie’s sales globally and the recognition of their client’s sudden interest in other categories such as fine jewelry and post-war contemporary art, has given Christie’s the business confidence in instituting their presence in the Arabian market.

Art ownership has now developed into more than just an investment with financial returns and is becoming better understood as an “asset-class” in its own right, with retails only a secondary objective by the growing numbers of art buyers.

Over the past centuries, the transfer of art between generations has always followed the economic growth of the world. At the present moment, the Middle East is in the key economic position to witness the shift in purchasing powers from the West to the East.

A large number of period art is finding face for sale in the global arena with the need for its disposal from the possession of the new generation of contemporary art collectors. Most of these are procured from people coming from the new economic growth markets in Russia, China, India and the Middle East.

With the recognition of quality art by the bigwigs of the art world, the Saudi Arabian art industry has been making small, but recognizable, leaps on the international front and is displaying all the elements of creative economic growth with the emergence of new-age contemporary artists, galleries and the interest of buyers with the means to invest in expanding their home and corporate art collections.

“In Dubai, it took us three to four years before the market really took off. We predict that in Saudi Arabia it may particularly take a little longer. But, with the social broadcast media, it may take off much quicker than we expect,” said Hewitt.

“Right now, we are building our list of clients, understanding their requirements and setting catalogues. You only need two to three good clients to get them interested, then you should look after their tastes and needs to help create and expand their collections,” he added.

With their established online presence in servicing other overseas clients based in the Middle East, personal art advisors and a permanent regional base in Dubai will prove some stiff competition in terms of building a strong art economy in Saudi Arabia where Christie’s will be servicing through a liaison with the Hyatt group.

Christie’s foray into international real estate dealing with high-end luxury properties in America, Europe and the Far East has proved a complementary and unique business venture to cater to the aesthetic and creative tastes of the discerning customer.

“Art has a really good store value, and quality art will always sell. It’s different from stocks and shares. The best part is if you’re buying a luxury property through Christie’s, you’ll need some really fine art to hang on the wall and enjoy it in the process,” said Hewitt.