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Local and regionally active artists achieved new highs, with close to a third of bidders hailing from the Kingdom. Luxury goods fared less well in comparison.

While the art market has been in decline in recent years, 2025 bears a cautiously positive outlook towards success.

Sotheby’s Dubai has launched The Gallery Collective, a unique partnership with the UAE’s homegrown galleries from November 2024 through to 2026.

The art world follows the money, and right now the money is in the Middle East.

30 October 2024: In a landmark development, Sotheby’s has secured a $1 billion investment from Abu Dhabi’s sovereign wealth fund ADQ, making it the largest industry investment in years.

Entrepreneur Patrick Drahi will invest additional capital alongside ADQ to remain Sotheby's majority shareholder.

In a move that could reshape the global art market, Abu Dhabi’s sovereign wealth fund, ADQ, has announced a $1 billion investment in Sotheby’s, acquiring a minor stake in the 275-year-old auction house.

The investment comes amid layoffs at the auction house and debt problems for majority shareholder Patrick Drahi.

Abu Dhabi's sovereign wealth fund, ADQ, has acquired a minority stake in Sotheby’s as part of a $1 billion investment, aimed at reducing the auction house's debt and supporting its growth.

The large-scale investment vehicle raises major questions about who gets to decide where, how and to whom art circulates.

At issue is whether the auction house "aided and abetted" Yves Bouvier in inflating prices in four private sales.

It can’t be easy to sit through a list of times you’ve been fleeced and admit that each time you thought the man holding the shears had your best interests at heart.

Russian billionaire Dmitry Rybolovlev is suing Sotheby's and art dealer Yves Bouvier in a high-profile New York court case, alleging over $1 billion in art purchase overcharges. The lawsuit could reveal questionable practices in the secretive art market.

In the off-grid sanctuary of the art world, where masterpieces change hands for astronomical sums and money is no object, a legal saga is unfolding in a Manhattan courtroom, exposing the underbelly of an industry known for its luxury and secrecy.

The portrait, estimated to be worth more than $120 million, depicts the Spanish artist's ‘golden muse’