Sotheby’s is launching its first luxury auction series in Abu Dhabi, called Abu Dhabi Collectors’ Week, scheduled for December 3-5, featuring high-end cars, watches, jewelry, real estate, and art from Old Masters to contemporary works.

The event aims to position Abu Dhabi as a global hub for art and luxury, aligning with the city’s broader cultural development efforts including the Louvre Abu Dhabi and the upcoming Guggenheim Abu Dhabi.

This auction series will take place at the St. Regis Saadiyat Island Resort and coincides with major regional events like the Abu Dhabi Grand Prix and Abu Dhabi Finance Week, attracting affluent international visitors.

The move follows Sotheby’s recent expansion into the Middle East, including a strategic entry into Saudi Arabia, and is part of a broader effort to tap into the region’s booming luxury market, which grew 6% in 2024 to nearly $13 billion.

Sotheby’s relationship with Abu Dhabi has been strengthened by a $1 billion investment from the sovereign wealth fund ADQ, aimed at expanding Sotheby’s global luxury brand beyond art.

This strategic move by Sotheby’s follows a recent minority stake acquisition by ADQ last year, aligning with Abu Dhabi’s ambitions to elevate its status in the luxury and cultural sectors.

Demand from Middle Eastern buyers has increased by 25 percent over the past five years, reflecting the region’s growing wealth and interest in luxury assets.

This investment aligns with Abu Dhabi’s broader strategy to attract global wealth, with the UAE’s ultra-rich families projected to control $1 trillion by the end of 2025.

Sotheby’s CEO Charles Stewart is pushing for the house’s evolution into a recognized luxury brand, with the Middle East as a key focus to reinforce Abu Dhabi’s cultural and luxury significance.

Katia Nounou Boueiz, Sotheby’s head of UAE and Middle East deputy chairman, emphasizes Abu Dhabi’s status as a leading global destination for culture and luxury, and highlights its partnership with ADIO to shape the future of collecting and luxury experiences.

Notable auction items include a 2010 Aston Martin One-77 valued between $1.3 million and $1.6 million, a McLaren F1 Team car chassis, a 2017 Pagani Zonda 760 Riviera estimated at up to $10.5 million, and a diamond collection worth over $20 million, with highlights like 'The Desert Rose' diamond and a rare Rolex 'Oyster Albino' Daytona.

Abu Dhabi’s cultural momentum is reflected in major developments like the Louvre Abu Dhabi, Guggenheim Abu Dhabi, and Zayed National Museum on Saadiyat Island, positioning the city as a key cultural and luxury hub.

The auction series is part of Abu Dhabi’s broader efforts to attract global wealth and cultural prominence, with the events timed to coincide with regional highlights such as the Formula 1 Grand Prix and Abu Dhabi Finance Week.