Mixed Results at Sotheby's Doha Sales

Artinfo and Bloomberg are reporting the inaugural series of middle eastern sales held last week by Sotheby's with a few exceptions performed under expectations. The middle eastern and international contemporary sale sale realized only $4.3 million against pre sale estimates of $13.8 - $19.7 million, with only 55% of the 51 lots selling. The second sale, Art of the Islamic saw only 5 of 18 lots selling, but those 5 lots brought excellent prices at around $4 million (the full 18 items had a pre sale estimate of $4 million). That was a positive.

Also in its own catalog an Indian pearl rug set a record price of $5.5 million against a $5 million low estimate.

ArtInfo reports The house did see one success in Doha this week, when an Indian carpet made of pearls and gems that had been given its own catalog sold for $5.5 million, beating its low estimate of $5 million and the world record for a carpet or rug, set at Christie's New York in June 2008. The Pearl Carpet of Baroda, which measures 5 feet 8 inches by 8 foot 8 inches, was commissioned in 1865 by the Maharajah of the former Indian state of Baroda, possibly as a gift for the tomb of Mohammed at Medina.

To read the ArtInfo article click HERE, to read the Bloomberg article on the sales click HERE.