Christie's Dubai Auctions were upto expectations

Christie’s manages expectations at its sixth sale in Dubai

DUBAI. Christie’s sixth auction in Dubai of international modern and contemporary art, mainly Middle Eastern, totalled $4.7m, a far cry from the $20m the auction house achieved at the peak of this emerging market in spring 2008. Christie’s strategy of imposing low estimates and limiting the number (and, apparently, even size) of works resulted in active, workmanlike bidding. The sale was 77% sold by lot and 85% by value.