Editor’s Note
Sotheby’s recent auction in Saudi Arabia, “Origins II,” far exceeded expectations, generating $19.6 million and highlighting the Gulf region’s rising influence in the global art market. This success arrives just as Art Basel prepares to launch its first Qatar edition, signaling a significant shift in the art world’s geographic and economic landscape.
Sotheby’s second auction in Saudi Arabia, “Origins II,” held on January 31, achieved sales of $19.6 million (including fees), significantly exceeding the pre-sale estimate of $11.7 million to $16.6 million. This result underscores the growing prominence of the Gulf region, including Saudi Arabia, in the global art market, especially as Art Basel Qatar prepares for its inaugural edition starting February 5.
The auction’s highlight was the dramatic new auction record set for a local artist. Coffee Shop in Madina Road (1968) by Safeya Binzagr (1940–2024), a leading female artist in Saudi modern and contemporary art, sold for $2.1 million (including fees). This was more than ten times its high estimate and nearly doubled the previous auction record for a Saudi artist, set at $1.2 million by a work by Mohammed Al-Saleem in 2023.
Nine works by Saudi artists were offered in “Origins II,” and all were sold. Their combined sales reached $4.3 million against a high estimate of $1.1 million. Two works by Al-Saleem were among them, each selling for more than three times their high estimate.
A notable difference from the first “Origins” auction in February 2025 was the significantly increased presence of Western masterworks, indicating Sotheby’s stronger engagement with collectors within Saudi Arabia. Three works by Pablo Picasso were offered, with the oil painting Paysage (1965) selling for $1.6 million. Seven works by Roy Lichtenstein from the artist and his wife’s personal collection also drew attention, with Interior with Ajax (Study) (1997) achieving $889,000. A set of four silkscreens by Andy Warhol, Muhammad Ali (1978), sold for $352,000.
Other notable sales included Anish Kapoor’s sculpture Untitled (2005) for $736,600 and James Turrell’s light work Origen (2020) for $635,000.
Approximately one-third of the lots, around 20 works, were purchased by buyers within Saudi Arabia. While current attention is on Qatar with the debut of Art Basel Qatar, this auction result clearly demonstrates that the Gulf region, including Saudi Arabia, is solidifying its presence in the art market.