Editor’s Note
Sotheby’s will host its inaugural major auction in Abu Dhabi in December 2025, marking a significant expansion into the Gulf’s luxury market. The event will feature high-value artworks, including a notable piece by Gustav Klimt.
Sotheby’s will hold its first large-scale luxury auction, “Abu Dhabi Collectors’ Week,” in Abu Dhabi, the capital of the United Arab Emirates, from December 3 to 5, 2025. During the week, an exhibition featuring artworks such as Gustav Klimt’s “Lady with a Fan” (1917-18) will also be held.
The two major auction houses, Sotheby’s and Christie’s, have been shifting towards the luxury market and the Gulf region in recent years to recover from the stagnation in the art market. As part of this move, Sotheby’s announced in August this year that it would hold its first large-scale luxury auction, “Abu Dhabi Collectors’ Week,” in Abu Dhabi from December 3 to 5. The company also revealed that during the week, it will host an exhibition featuring art and luxury items worth a total of $10 billion (approximately ¥157 billion).
While the artworks in the exhibition will not be for sale, luxury items will be auctioned. This structure reflects the current dynamics of the art and luxury markets since 2023 and illustrates Sotheby’s recent focus on high-end sectors such as sports cars, real estate, jewelry, watches, and handbags as revenue sources. During the week, over $150 million (approximately ¥23.5 billion) worth of items will be auctioned, with an additional $100 million (approximately ¥15.6 billion) expected to be sold through private sales.
Regarding the aim of the week, Josh Pullan, Global Head of Luxury at Sotheby’s, stated:
The venue will be The St. Regis Saadiyat Island Resort. The schedule is packed with diverse auctions featuring everything from sports cars to jewelry and art. One highlight is the McLaren F1 car “2026 McLaren F1 Team MCL40A,” to be offered at the “RM Sotheby’s” auction on December 5, with an estimated price of $10–12 million (approximately ¥1.57–1.886 billion).
The “Le Voyageur: Jane Birkin’s Handbag” auction on the same day will feature a Hermès Birkin bag signed and used by Jane Birkin, estimated at $240,000–440,000 (approximately ¥38–70 million). Following the record sale of the first-generation Hermès Birkin for €8.6 million (including fees, approximately ¥1.4 billion) at Sotheby’s Paris in July this year, another high-value sale is anticipated.
Furthermore, at the “Precision & Brilliance: Prestigious Jewels & Watches from an Important Private Collection” auction, a 31.86-carat Fancy Vivid Orange-Pink diamond, “The Desert Rose,” will be offered with an estimated price of $5–7 million (approximately ¥790 million–1.1 billion). Other high-value items related to the week include a French Riviera villa listed at €35 million (approximately ¥6.33 billion) and an apartment in Graz, Austria, designed by Zaha Hadid, listed at €19 million (approximately ¥3.438 billion).
According to Sotheby’s, the luxury items available for private sale include the world’s largest intact diamond and the world’s largest deep green diamond. Additionally, a significant ruby jewelry set from Harry Winston, along with Rolex and Patek Philippe watches, will be offered.
The exhibition, co-hosted with the Abu Dhabi Investment Office (ADIO) at The St. Regis Hotel on Saadiyat Island, will feature these luxury items alongside iconic works previously sold at Sotheby’s. Examples include Gustav Klimt’s “Lady with a Fan” (1917–18), which sold for £74 million (approximately ¥13.6 billion) at Sotheby’s London in 2023, the first-generation Birkin bag, and the Mesopotamian limestone sculpture “Guennol Lioness,” which set a record for ancient art at $57 million (approximately ¥8.93 billion).
Jean-Luc Burlereaux, a Sotheby’s board member leading the expansion of partnerships in the UAE, stated in a declaration:
Sotheby’s held its first evening sale in Saudi Arabia in February this year. This is seen as the first step in a plan by owner and billionaire Patrick Drahi to transform Sotheby’s into a luxury retail giant. The strategy of targeting the Middle Eastern market is logical. According to a report by the Chalhoub Group in Dubai, the region’s luxury market grew by 6% last year to $13 billion (approximately ¥2.0437 trillion). Furthermore, a joint survey by Boston Consulting Group and Altagamma predicts that, led by the UAE and Saudi Arabia, the Middle East’s luxury market will double to $35–40 billion (approximately ¥5.5–6.3 trillion) by 2030.
