Following its foray into Saudi Arabia in February, this December Sotheby’s will hold its first auction week in Abu Dhabi in partnership with the Abu Dhabi Investment Office (ADIO), a government entity aimed at attracting foreign investment and diversifying the emirate’s oil-centred economy.
The move comes a year after Abu Dhabi’s sovereign wealth fund, ADQ, acquired a minority stake in Sotheby’s in October 2024 with a $1bn cash investment, a sum largely used to pay down the auction house’s enormous debt.
With a heavy focus on luxury goods—specifically the fast and the shiniest—the auctions, events and exhibitions will offer an eclectic mix of cars, jewellery and watches aimed at the region’s ultra-high net worth individuals. The first auction will take place in October, with events running up until the “Abu Dhabi Collectors’ Week” from 2-5 December, coinciding with the Abu Dhabi Grand Prix. All Sotheby’s events will be held at The St. Regis Saadiyat Island Resort.
Sotheby’s Dubai office will continue to operate as normal, a spokesperson says.
The Desert Rose, a 31.86 carat diamond (est $5m to $7m)
Courtesy of Sotheby’s
Sotheby’s was officially incorporated in Abu Dhabi earlier this summer. Jean-Luc Berrebi, who is a Sotheby’s board member focused on expanding collaboration with the UAE, says in a statement that this incorporation and forthcoming events are a “strategic move” that reflect the company’s “deep confidence in the region’s dynamic cultural landscape and our growing partnerships with its visionary leaders, collectors, and institutions”.
Katia Nounou Boueiz, the head of Sotheby’s UAE and deputy chairman, Middle East, says in a statement that Abu Dhabi “has become a leading global destination for culture and luxury”. Meanwhile, Josh Pullan, the global head of Sotheby’s luxury division says: “This unprecedented auction week—and all of the events that will lead up to it—is poised to showcase the very best of what Sotheby’s has to offer, and we are thrilled to already be able to announce that the week will be anchored by a single-owner collection replete with top quality jewellery and watches, alongside unparalleled automobiles.”
The company’s car division, RM Sotheby’s, has collaborated with McLaren Racing for the “Triple Crown” project, through which bidders can buy three unraced competition chassis, including a 2026 McLaren Formula 1 Team car, a 2027 McLaren United AS racer from the World Endurance Championship, and a 2026 Arrow McLaren IndyCar Team Indianapolis 500 race-driven Indycar from the NTT Indycar Series. They will be auctioned on 5 December during the Grand Prix. Other cars offered include a 2017 Pagani Zonda 760 Riviera (est $9.5m-$10.5m) and a 2010 Aston Martin One-77 (est. $1.3m-$1.6m).
Also during collectors’ week is a single-owner sale of watches, jewellery and gemstones, estimated to make over $20m in total. The top lot is expected to be The Desert Rose—at 31.86 carats the largest fancy vivid orangy pink diamond ever graded, according to Sotheby’s—which is estimated to sell for between $5m to $7m.
