Bloomberg reports, Sotheby’s will stage its first-ever auction series in Abu Dhabi this December, a move that reflects the emirate’s growing ambition to become a hub for art, culture, and luxury investments.
Running from 2 to 5 December, the series will be part of Abu Dhabi Collectors’ Week and include rare cars, fine jewellery, timepieces, and real estate.
The event comes after Abu Dhabi sovereign wealth fund ADQ acquired a minority stake in Sotheby’s last year, signalling deeper integration of the auction house into the region’s wealth and cultural strategy, and expanding its global outreach.
Abu Dhabi’s cultural and wealth expansion
The auction launch aligns with Abu Dhabi’s investment in cultural assets, particularly through the Saadiyat Cultural District. This area already hosts the Louvre Abu Dhabi and is preparing to welcome the Guggenheim Abu Dhabi.
These projects are designed to strengthen the emirate’s reputation as a global arts destination and highlight its strategy to merge cultural heritage with modern financial growth.
At the same time, Abu Dhabi is rapidly positioning itself as a magnet for global wealth. According to projections, the country’s richest families will control around $1 trillion by the end of next year.
Dubai, meanwhile, already hosts family offices managing more than $1 trillion in assets. Sotheby’s has reported a 25% rise in United Arab Emirates-based buyers over the last five years, underlining the appetite for luxury acquisitions in the region.
Luxury cars, diamonds, and rare collectibles
Among the headline items in the Abu Dhabi auctions is a 2010 Aston Martin One-77, estimated at between $1.3 million and $1.6 million. Also up for bidding is a 2017 Pagani Zonda 760 Riviera, which could fetch as much as $10.5 million.
A future McLaren Formula 1 Team car chassis is also expected to draw international attention from collectors.
The jewellery and diamond collection on offer is valued at more than $20 million, with additional auctions of rare timepieces and prime real estate further broadening the event’s appeal to buyers and investors seeking exclusive opportunities.
Auction timing with Abu Dhabi’s major events
Sotheby’s has scheduled the auctions to coincide with some of Abu Dhabi’s largest events, including the Formula 1 Grand Prix and Abu Dhabi Finance Week.
This timing is intended to attract wealthy international visitors who will already be in the city for these high-profile gatherings and combine leisure with investment opportunities.
The auctions will mark a new chapter for Sotheby’s in the Middle East, with the company leveraging strong regional demand for luxury goods.
Its decision to host the auctions in Abu Dhabi reflects a strategic push to bring global collectors to the emirate while giving local buyers access to some of the most exclusive assets in the world.
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