Sotheby’s will stage its first series of luxury marquee auctions in Abu Dhabi this December. Dubbed Abu Dhabi Collectors’ Week, the sales will run from December 3 to 5 and span cars, watches, jewelry, and real estate, alongside a “museum-quality” exhibition of art, from Old Masters to contemporary.
The auctions, organized in partnership with the Abu Dhabi Investment Office (ADIO), will take place at the St. Regis Saadiyat Island Resort during “one of the busiest and most dynamic weeks in the region,” Sotheby’s said in a statement, citing the Abu Dhabi Grand Prix, the Milken Institute Middle East and Africa Summit, Abu Dhabi Finance Week, and Bitcoin MENA.
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Saadiyat Island is home to the Louvre Abu Dhabi and the soon-to-open Guggenheim Abu Dhabi and Zayed National Museum.
“This is a major strategic moment for Sotheby’s and the expansion of our global footprint,” Josh Pullan, the global head of Sotheby’s luxury division, told ARTnews. “The rise of Middle Eastern participation in our global auctions has been building momentum in recent years, especially clients from the UAE. That’s why holding auctions in Abu Dhabi is such an ambitious and important statement—one we intend to build on with real impact for both our business and the market. Abu Dhabi is experiencing huge momentum as a cultural and luxury hub.”
Abu Dhabi Collectors’ Week will follow Sotheby’s first foray into Saudi Arabia, when it held the kingdom’s first international auction in February. The house’s tilt toward the Middle East appears aimed at tapping into the region’s booming luxury market, which grew 6 percent last year to nearly $13 billion, according to a report from Dubai-based retailer and distributor Chalhoub Group.
The move seems to be paying off: Sotheby’s reported earlier this year that it saw a record number of buyers from the region in 2024.
“By any measure, Abu Dhabi has become a leading global destination for culture and luxury,” Katia Nounou Boueiz, Sotheby’s head of UAE and deputy chairman for the Middle East, said in a statement. “In that spirit, we are excited to join forces with ADIO to present a vision of the future for collecting and luxury experiences.”
Headline lots include The Desert Rose, the largest fancy vivid orangy pink diamond ever graded. Weighing 31.86 carats, the pear-shaped diamond “radiates a unique, sunset-like blend of pink and orange—a gemstone of both aesthetic and gemological significance,” per the auction house. It carries an estimate of $5 million to $7 million. A rare Rolex “Oyster Albino” Daytona watch, produced in the late 1960s and early ’70s, will also be offered, with an estimate of $500,000 to $1 million. The top car in the sale is a 2017 Pagani Zonda 760 Riviera (estimate $9.5 million–$10.5 million).
Sotheby’s is increasingly relying on the luxury market as fine art sales continue to struggle. While the house hasn’t publicly released its first-half numbers for 2025, a spokesperson told ARTnews that consolidated luxury sales topped $2 billion in 2024—for the third consecutive year—accounting for roughly a third of Sotheby’s $6 billion total. According to the house, that result is triple its 2019 luxury total and remains the highest in the industry. Private luxury sales, the spokesperson added, also grew 350 percent over the previous year.
The house’s relationship with Abu Dhabi runs deep. At the end of last year, Sotheby’s closed a deal with the Abu Dhabi–based sovereign wealth fund ADQ for a $1 billion cash injection. The investment is not only helping the debt-laden house clear its books, but also positioning it for a more robust future. CEO Charles Stewart has been pushing to evolve Sotheby’s into a globally recognized luxury brand beyond the art world, and its pivot to the Middle East is part of that strategy.
“With the exclusive global debut of Collectors’ Week in the capital, we unveil more than rare and exceptional pieces—we reaffirm the city’s cultural depth, shaped by the quiet power of true luxury,” Noora Al Foulathi, head of Abu Dhabi Retail, said in a statement.