The Qatari royal family who made a public plea in the Financial Times to Francois Pinault several years ago to sell them Christie’s has decided to go an entirely different route. They’re opening a local auction house aimed at developing a local market.

Here’s the FT’s Georgina Adam on the new firm:

in Qatar a new auction house, backed by the ruling Al-Thani family, is holding its first sale in Doha on Tuesday. AlBahie is the first homegrown saleroom in the region and is based in the Katara cultural village, on the edge of the city. The venture belongs to two Qatari businessmen and collectors, Khalid Al Sulaiti and Sheikh Faisal Al-Thani, a member of the royal family; it is directed by a French art historian, Corinne Lefebvre.

The company aims at traditional, mid-market tastes. […]. Later in the year, sales will feature carpets, Islamic and contemporary art.

The Art Market: Action in the Middle East  (FT.com)