The Gallery, located at the Furusiya Yacht Club, played venue once again for the Innovation for Auction event last Monday.

The auction received a positive reception by members of the press, general public and interested art buyers, both from the Kingdom and abroad. Works by Banksy and Damien Hirst were contained from private art collections, including many others by talented contemporary Saudi artists.

The organizing body, Arabian Wings, hosted the auction, having first launched a contemporary art auction in December 2011, exhibiting Rembrandt and other highly sought after artworks, including those of Saudi artists.

Last December they hosted the second auction with sales amounting to a net worth of $1.2 million, epitomizing the idea of successful art auctions that can be held in Saudi Arabia.

Arabian Wings’ third auction hosted last week on March 10, after an open public viewing between March 5-9, had a total of 48 contemporary artworks that consisted of drawings, photographs, bronze sculptures and installations.

The auction, presided by Mohammed Bahrawi, was sharply curated with works appearing in non-traditional formats -modern in both medium and nature-exploring religion, self and society.

Most of the artworks ranged from SR11,000- SR70,000 with a total of 28 pieces sold for half a million riyals. The Keswat Al Kaabah, from a private collection priced at 4 million is yet to be sold.