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Sotheby’s sells cars, jewelry, handbag at Abu Dhabi auction

Sotheby’s first Abu Dhabi Collectors’ Week raised $133 million from a series of auctions, including sports cars, jewelery and a Hermès handbag owned by Jane Birkin, which went for $2.9 million.

Among the most jaw-dropping sales was a 31.68-karat pink diamond that sold for $8.8 million and a 1994 McLaren F1 car for $25.3 million.

The glitzy event, held at the St. Regis Saadiyat Island Resort last week, fortuitously coincided with the Milken Middle East and Africa Summit, an event known for attracting billionaires, held at the same venue.

Collectors’ Week, which included a showcase of $500 million worth of non-selling art, follows a $1 billion injection by Abu Dhabi’s sovereign fund ADQ for a minority stake in Sotheby’s. 

Sotheby’s to sell rare watches, racing cars, real estate in UAE

Sotheby’s, the venerable auction house owned in part by sovereign wealth fund ADQ, is coming to Abu Dhabi in December.

Up for sale will be a collection of jewelry, rare watches, real estate and racing cars, Sotheby’s announced today.

Auctions will take place from Dec. 2 to Dec. 5 during the same week as the Formula One Grand Prix in Abu Dhabi.

Meanwhile, Patrick Drahi, the French telecom magnate who acquired Sotheby’s in 2019 and sold a $1 billion stake to ADQ last year, is the subject this week of a profile in the New Yorker.