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    The art markets shifting sands as Abu Dhabi grows in stature

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    euronews (in English)

    by euronews (in English)

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    The Abu Dhabi Art fair is growing in stature and reputation as galleries across the globe see the growing business potential in the region.

    Such is the buzz that a Louvre, Abu Dhabi will open its doors in two years time.

    The galleries just keep on coming back:

    Tairone Bastien is the fair’s head of programme: “We have a 90 percent return rate, so we have a lot of returning galleries to the fair and we have a lot of the top names. We have Hauser & Wirth,Zürich we have Gagosian, New York, Thaddeus Ropac, Salzburg and the galleries are really presenting their best work and they’re showing work by both very established artists as well as cutting edge contemporary artists.”

    Some art can be mega expensive
    “May-Sept” by Zao Wou-Ki was on sale for a whopping 23 million dollars.

    “Smilies” by American painter Robert Hammond, A more affordable 21,000 a piece.

    “Cell XV (For Turner)” by French-American artist and sculptor
    Louise Bourgeois an eyebrow raising $7.5 million dollars.

    Alain Quemin, journalist for Les Journal des Arts says: “Every year, what they show here is very good quality anyway. So, they do not take second range art works for this show. They will try and promote the best works by the best artists. They take this market very seriously.”

    Art is business in the United Arab Emirates and the arrival of the Louvre in 2015 will put the tiny emirate well and truly on the art map.