Abu Dhabi is positioning itself as a destination for curated luxury goods through its growing ties to Sotheby’s.
Abu Dhabi Collectors’ Week, running Dec. 2-5, will be Sotheby’s first auction series in the UAE capital and under the hammer are a giant pink diamond, a rare Rolex, and McLaren racecars alongside other jewelry, supercars, and real estate.
The auctions will take place at the St. Regis Saadiyat Island Resort during one of the Gulf’s busiest weeks of the year for displays of wealth and well-heeled visitors, coinciding with the Abu Dhabi Grand Prix, Abu Dhabi Finance Week, and Bitcoin MENA.
Sotheby’s announced its plans a year after the Abu Dhabi sovereign wealth fund ADQ offered a financial lifeline to the indebted New York auction house with a $1 billion minority stake.