Sotheby’s will host its first series of luxury marquee auctions in Abu Dhabi from December 3 to 5, marking a major step in its global expansion. The event, named Abu Dhabi Collectors’ Week, will feature sales of cars, watches, jewelry, and real estate, alongside an exhibition of art spanning from Old Masters to contemporary works.
The auctions, organized in partnership with the Abu Dhabi Investment Office (ADIO), will take place at the St. Regis Saadiyat Island Resort. The timing coincides with a high-profile week in the region, which includes the Abu Dhabi Grand Prix, the Milken Institute Middle East and Africa Summit, and Abu Dhabi Finance Week.
“This is a major strategic moment for Sotheby’s and the expansion of our global footprint,” said Josh Pullan, Global Head of Sotheby’s Luxury Division. He noted that Middle Eastern participation in global auctions has surged, particularly among UAE clients. Holding auctions in Abu Dhabi, he added, is an ambitious move that reflects the city’s position as a growing cultural and luxury hub.
Highlights and Market Impact
Headline lots include The Desert Rose, the largest fancy vivid orangy pink diamond ever graded. Weighing 31.86 carats, the pear-shaped diamond is estimated at $5 million to $7 million. A rare Rolex “Oyster Albino” Daytona watch, produced in the late 1960s and early 1970s, carries an estimate of $500,000 to $1 million. The top automotive lot is a 2017 Pagani Zonda 760 Riviera, expected to sell for $9.5 million to $10.5 million.
Abu Dhabi Collectors’ Week follows Sotheby’s debut in Saudi Arabia earlier this year and reflects a wider strategy to tap into the region’s luxury market, which reached nearly $13 billion in 2024, according to Chalhoub Group. The auction house also reported a record number of buyers from the Middle East in 2024.
“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,” said Noora Al Foulathi, Head of Abu Dhabi Retail.
Sotheby’s Broader Vision
The luxury segment has become increasingly critical for Sotheby’s amid slower fine art sales. The house reported $2 billion in luxury sales for 2024, accounting for one-third of its total revenue and tripling its 2019 results. Private luxury transactions also rose by 350% year over year, reinforcing the category’s growth.
Sotheby’s connection with Abu Dhabi has strengthened through a $1 billion investment from ADQ, the emirate’s sovereign wealth fund, at the end of last year. This funding is helping the company stabilize finances while accelerating its evolution into a global luxury brand beyond art. The upcoming event reflects this vision, positioning Abu Dhabi as a prime destination for high-end auctions and cultural experiences.