Christie’s Dubai sale continues today with watches, gems and jewelry. But yesterday’s picture sale found buyers for three quarters of the 166 lots and totaled a strong $6.7m but below the pre-sale estimate:

The $6.7 million was an increase on the $4.76 million made at the last art sale in April with a similar number of lots up for bidding, but down on pre-auction estimates of between $8.1 million and $11.8 million. […]

“Remembrance and Gratitude” broke a previous record of $657,500 set by the sale of a work by the same artist at a Christie’s auction in October 2007. 

“There was good competition for pieces tonight … There were some very sensible prices paid, much more realistic than previous years,” Jussi Pylkkanen, Christie’s regional president, told Maktoob Business following the auction.

Record for Most Expensive Arab Art Smashed (Maktoob)