In a groundbreaking move, Sotheby's recently hosted its first major auction in Saudi Arabia, marking a significant milestone for the Kingdom's burgeoning art market. 

The auction, titled "Origins," took place in Diriyah, a culturally and historically significant location near Riyadh. This landmark event not only showcased an impressive array of fine art but also included luxury items such as jewelry, watches, and handbags.

The auction was a resounding success, with total sales exceeding $17 million. It attracted collectors from 45 countries, with nearly one-third of the lots sold to buyers within Saudi Arabia. The event featured works by globally renowned artists such as Pablo Picasso, Andy Warhol, and Wassily Kandinsky, alongside pieces by emerging Saudi artists. This diverse collection underscored the Kingdom's rich cultural heritage and growing appreciation for contemporary art.

Sotheby's expansion into Saudi Arabia reflects its commitment to the Middle East and recognizes the region's immense cultural and economic potential. The opening of Sotheby's new office in Riyadh's Al Faisaliah Tower further solidifies its presence in the Gulf region, positioning it as a key player in the local art market.

This historic auction highlights the increasing interest in art and luxury items in Saudi Arabia and sets the stage for future auctions and cultural exchanges in the Kingdom. With its strategic move, Sotheby's is poised to play a pivotal role in the evolution of the Saudi art scene, fostering a deeper connection between local and international collectors.