50 top galleries to take part in Dubai Art Fair - March 8-10, 2007
Published July 9th, 2006
Fifty of the world’s top international galleries will take part in the first major art fair in Dubai, scheduled to be held in March.
The Gulf Art Fair will take place from March 8-10, 2007 with the support of the Dubai Government’s Department of Tourism and Commerce Marketing in the magnificent Jumeirah Madinat Arena and the spectacular Fort Island.
The event will add to the cultural profile of a city that aspires to become a major centre for the global art market, and bring world-class art to the doorsteps of some of the most enthusiastic new art collectors in the world, said a spokesman for Gulf Fairs Ltd (UK), the organiser.
Dubai already has the attributes to become a key hub for the world’s art market. It is the region’s most important financial market and – as a tax-free location – offers significant financial advantages for dealers and collectors, he said.
The Gulf Art Fair builds on the success of the first Christies sale in Dubai held on May 24, 2006 that attracted collectors from more than 17 countries. Christies’ sales totalled three times the pre-sale estimate, said the spokesman.
Edward Dolman, Chief Executive Officer, Christies International, recognised the auction was the first phase of development of a thriving art market in the region. He said the auction ‘exceeded our expectations in terms of prices achieved and the incredibly enthusiastic response from our new clients in the region.’
Furthemore, the extraordinary boom in London’s art market sales of impressionist and modernist works this week highlighted the rise of a new group of wealthy collectors from Russia, the Middle East and South Asia.
The Gulf Art Fair, at Madinat Arena, will not only seek to attract this new range of buyers but also draw in collectors from around the world as it is situated within easy reach of Europe, USA, Russia, India and the Far-East.
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