Sotheby’s is set to bring an unprecedented $1 billion in fine art and luxury goods to Abu Dhabi Collectors’ Week, taking place from December 2 to 5. The announcement signals a major push into the region as global art sales continue to soften and luxury markets gain strength. While the artworks will appear in non-selling exhibitions, Sotheby’s will auction high-value luxury items—including sports cars, jewels, watches, handbags, and real estate—valued at more than $150 million, with an additional $100 million available through private sales.
Josh Pullan, Sotheby’s global head of luxury, said, “For our inaugural Collectors’ Week in Abu Dhabi, we’ve assembled an unprecedented suite of offerings across our luxury portfolio and collaborated with some of the world’s leading brands. There is no better time or place to do this than Abu Dhabi, during the most dynamic moment in the city’s cultural calendar. Our aim is not only to present world-class treasures at auction, but also to build lasting connections with collectors in the region through talks, masterclasses and a museum-quality exhibition of artworks from around the world.”
High-Value Luxury Lots Take Center Stage
Among the top auction highlights are three McLaren Racing cars spanning F1, IndyCar, and the FIA World Endurance Championship. Sotheby’s will also offer a highly personal Jane Birkin handbag with a high estimate of $440,000. The lineup includes what the house describes as “the largest fancy vivid orangy pink diamond in the world,” estimated at up to $7 million, alongside two significant properties—one on the French Riviera and another designed by Zaha Hadid in Austria.
Privately sold items will include the largest flawless diamond in the world and the biggest deep green diamond. A “highly important ruby necklace and earring set by Harry Winston, presented alongside a curated selection of other extraordinary jewels,” will also be available. Complementing the collection are notable timepieces from Rolex and Patek Philippe. These offerings underscore Sotheby’s confidence in the luxury segment, which continues to outperform the traditional art market.
Museum-Quality Exhibitions Anchor the Week
Together with the Abu Dhabi Investment Office, Sotheby’s will stage a non-selling art exhibition at the St. Regis Saadiyat Island Resort. It will showcase “one of the greatest drawings by Dutch master Rembrandt ever to come to market,” from the collection of Thomas S. Kaplan, along with a display of historically significant artworks previously sold by the house. Featured pieces include Gustav Klimt’s Dame mit Fächer (Lady with a Fan), which achieved $108.4 million in 2023; the original 1985 Hermès Birkin bag crafted for Jane Birkin, which sold for $10.1 million; and the Guennol Lioness, a Mesopotamian limestone figure that set a $57 million record for any antiquity sold at auction.
Jean-Luc Berrebi said, “Abu Dhabi represents a powerful convergence of visionary ambitions, limitless opportunities, and cultural vibrancy. By expanding our footprint here, we’re strengthening long-standing relationships with preeminent partners and institutions and deepening the way we can meaningfully contribute to, and grow with, a region that is redefining global demand for art and luxury.”
Sotheby’s expansion follows its first luxury auction in Saudi Arabia earlier this year, part of a broader strategy to tap into Middle Eastern demand. The region’s luxury market grew 6 percent last year, reaching nearly $13 billion, and projections suggest it could double to $35 billion–$40 billion by 2030, driven particularly by the UAE and Saudi Arabia. With strong momentum and rising global interest in luxury assets, Abu Dhabi Collectors’ Week is set to be a defining moment for Sotheby’s in the Gulf