Bloomberg reports on Bonham’s upcoming 149-lot November 24th sale in Dubai where this Anish Kapoor work estimated is at between $1.8 and $2.6 million. The sale is estimated at between $9-12 million. This will be Bonham’s second sale in Dubai. The first was 33 lots that brought in $13 million.

“The froth’s gone,” said Matthew Girling, Bonhams’s chief executive for Europe and the Middle East. “At the beginning of the year, works were selling for six or seven times the estimate. Now it’s not quite the same.”

Kapoor Sculpture May Fetch $2.6 Million at Bonhams Dubai Sale (Bloomberg)