Sotheby's launches car and luxury collecting in Abu Dhabi
The first week of auctions in the Emirate totalled $133 million
One year after Abu Dhabi's sovereign wealth fund (ADQ) made a major investment of one billion dollars in Sotheby's, Sotheby's held its first week of art exhibitions (with major works by Klimt and Warhol) and auctions from 2 to 5 December in the Emirate, which like, and perhaps more than, its neighbouring countries has decided to focus on art and luxury to attract visitors and residents. The previous week two fairs were held in Abu Dhabi, the itinerant art and design fair Nomad and the local Art Fair, which will become part of the Frieze circuit from 2026, as well as the luxury yacht fair, while at the weekend it was the turn of Formula 1: a packed calendar to attract a varied public ranging from art to design, while waiting for the Guggenheim to open, completing the Emirate's museum offer. The Collectors Week auction catalogue began with a session devoted to luxury real estate, and was crowned by a major offering of supercars that attracted F1 fans to the city, as well as local residents, realising a total of $133 million.
Hermes Birkin, diamonds and watches
The first part of the auction was dedicated to the 'triad' of luxury collecting: handbags, jewellery, and watches. The Hermes 'Le Birkin Voyageur' handbag already owned by Jane Birkin herself and signed by her at the 2007 humanitarian sale, and then sold for €74,000 at Artcurial, started from an estimate of $240-440,000, and was long fought for up to over $2.8 million with commissions, a notable increase also linked to the success of the auction of the famous personal bag that sold for €8.6 million this July.
The next 42 lots of jewellery and watches from a private collection realised over $25 million, thanks to two multi-million dollar lots in their respective categories. A rare pink-orange diamond weighing almost 32 carats surpassed the $5-7 million estimate, thanks to a long, slow series of bids, up to $7.2 million, which became $8.8 million with commissions. The rare set of four pocket watches (one of each in yellow, white, pink gold and platinum) Patek Philippe Star Caliber 2000, one of five produced to celebrate the new millennium, with no less than 21 major complications, stopped without any particular enthusiasm at the low estimate of $10 million, which became $11.9 million with commissions.
McLaren, Ferrari and Pagani at RMSotheby's
The biggest contribution came from the sale of collector cars. The catalogue offered by RMSotheby's brought in an impressive $84.7 million, with 30 lots in the catalogue after two withdrawals (including an Aston Martin One-77 valued at $1.3-1.6 million), of which five were offered with no reserve and as many remained unsold. Among the unsold items is a 2010 Bugatti Veyron, and two Ferrari SF90s respectively a 2022 Stradale and a 2024 XX Spider version (estimated at $1.5-1.9 million).
As is often the case, the catalogue sees the presence of many Ferraris, 13 lots including five from a collection from Kuwait, temporarily imported and therefore subject to additional complications and taxes, with a 2014 La Ferrari seen after a single bid at $3.4m with commissions, outbid by a 1990 F40 contended to exceed the estimate at $3.9m with commissions, one of only six cars produced before 2000 offered.
In a catalogue of hypercars, a Pagani could not be missing: the 2006 Zonda Riviera stopped within the 9.5-10.5 million estimate at 10.1 million with commission, the third realisation over the ten million mark of the evening.
