Is The United Arab Emirates Constructing its Art History? The ...
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As Iain Robertson indicates, when art is created, a distribution system forms around it. Intriguingly, he sees the international art market as the sole mechanism conferring value to art (1). In the past, artists usually exchanged their creativity in return for something. Robert Huges even argues that some of the works of the great Masters (which now have great value) would not have existed unless someone had paid for them, and paid well. He considers the idea that money, patronage and trade corrupt the “wells of imagination”, to be a “pious fiction” (2). is means that there needs to be a system at work to distribute art and grant it value. At the beginning of the millennium, the UAE was not on the art map, yet in just a few years, it has managed to prove itself as an emerging art market, one that is capable to attract subs stantive art investors. ese investors no more consider art which is created in the Middle East to be ‘junk’, but rather have started to give it the label of being cutting edge. e art in question might not have changed in the last decade, but there are factors that allowed for this alteration in the perception of ‘value’. Alan Bowness described four circles of recognition through which an artist goes through on his/her path to fame: peer recognition, critical recognition, patrons age by dealers and collectors, and finally public acclaim (3). Countries seeking to increase the value of their art, it seems, are required to go through nine major steps. Each of these steps plays a role in adding value. 1- Political Stability. Country’s Infrastructure and Econ- omy. ere appears to be a direct relationship between a given country’s development and political status and the way in which its art is perceived and valued. ere is a difference in value between two similar artworks painted by two artists where one resides in New York, and the other in Abidjan. Clearly, art created in New York will have more value (4). Since 1971, the UAE has enjoyed remarkable political stas 1s Iain Robertson, Understanding International Art Markets and Management (Routledge; London, 2005), 13. 2sRobert Hughes, Nothing if not Critical : Selected Essays on Art and Artists (Panther; London, 2001), 388. 3sAlan Bowness, e Conditions of Success : How the Modern Artist Rises to Fame (ames and Hudson; [London], 1989). Is the value of art simply an agreement bet tween conscious entities where the art object escapes the physical world to touch something beyond us? Does this explain why it reaches imaginary prices which oſten bewilders, not only the general pubt lic, but also art connoisseurs? In 2008, the United Arab Emirates (UAE) investment firm, Abraaj Capital, launched a new annual art prize worth 600,000 USD. e competition encouraged emergt ing artists living in the Middle East, North Aica and Southeast Asia to submit an application with an internationally known curator with whom they were expected to work in order to develop the art concept. ree winning projects will be showcased at Art Dubai 2009, and will become part of the Abraaj Capital corporate collection. By offering one of the world’s most substantial art competition endowments, can one assume that the UAE has bought the ability to influence the art world and grant vals ue to emerging artists from the region? Or is there a system at work that has been serving to establish the value of art? It appears that the UAE decided to embark on a shortcut that takes advantage of the decades, or even the hundreds of years, of art knowledge that Western countries employed to grant value to their arts. ere is a difference between ‘price’ and ‘value’. It is possible for the price of artworks of the wins ning artists to reach international standards by time, but the question remains whether art created in such countries has value. Is e United Arab Emirates Constructing its Art History? e Mechanisms that Confer Value to Art by Steve Sabella ART MARKET 126
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Transcript of Is The United Arab Emirates Constructing its Art History? The ...
As Iain Robertson indicates, when art is created, adistributionsystemformsaroundit.Intriguingly,heseestheinternational art market as the sole mechanism conferringvalue to art (1). In the past, artists usually exchanged theircreativityinreturnforsomething.RobertHugesevenarguesthatsomeoftheworksofthegreatMasters(whichnowhavegreatvalue)wouldnothaveexistedunlesssomeonehadpaidforthem,andpaidwell.Heconsiderstheideathatmoney,patronage and trade corrupt the “wells of imagination”, tobea“piousfiction”(2).Thismeansthatthereneedstobeasystem at work to distribute art and grant it value. At thebeginningof themillennium, theUAEwasnotontheartmap,yetinjustafewyears,ithasmanagedtoproveitselfasan emerging art market, one that is capable to attract subssstantiveart investors.These investorsnomoreconsiderartwhichiscreatedintheMiddleEasttobe ‘junk’,butratherhave started to give it the label of being cutting edge. Theart inquestionmightnothavechanged inthe lastdecade,but there are factors that allowed for this alteration in theperceptionof‘value’.AlanBownessdescribedfourcirclesofrecognitionthroughwhichanartistgoesthroughonhis/herpathtofame:peerrecognition,criticalrecognition,patronssagebydealersandcollectors,andfinallypublicacclaim(3).Countriesseekingtoincreasethevalueoftheirart,itseems,arerequiredtogothroughninemajorsteps.Eachofthesestepsplaysaroleinaddingvalue.
1- Political Stability. Country’s Infrastructure and Econ--omy. Thereappearstobeadirectrelationshipbetweenagivencountry’sdevelopmentandpoliticalstatusandthewayinwhichitsartisperceivedandvalued.Thereisadifferenceinvaluebetweentwosimilarartworkspaintedbytwoartistswhere one resides in New York, and the other in Abidjan.Clearly, art created in New York will have more value (4).Since1971, theUAEhasenjoyedremarkablepolitical stass
1sIainRobertson,UnderstandingInternationalArtMarketsandManagement(Routledge;London,2005),13.2sRobertHughes,NothingifnotCritical:SelectedEssaysonArtandArtists(Panther;London,2001),388.3sAlanBowness,TheConditionsofSuccess:HowtheModernArtistRisestoFame(ThamesandHudson;[London],1989).
Isthevalueofartsimplyanagreementbetttweenconsciousentitieswheretheartobjectescapesthephysicalworldtotouchsomethingbeyondus?Doesthisexplainwhyitreachesimaginarypriceswhich often bewilders, not only the general pubttlic,butalsoartconnoisseurs?In2008,theUnitedArab Emirates (UAE) investment firm, AbraajCapital, launchedanewannualartprizeworth600,000USD.ThecompetitionencouragedemergttingartistslivingintheMiddleEast,NorthAfricaandSoutheastAsiatosubmitanapplicationwithaninternationallyknowncuratorwithwhomtheywereexpectedtoworkinordertodeveloptheartconcept.ThreewinningprojectswillbeshowcasedatArtDubai2009,andwillbecomepartof theAbraajCapitalcorporatecollection.
By offering one of the world’s most substantial artcompetitionendowments,canoneassumethattheUAEhasboughttheabilitytoinfluencetheartworldandgrantvalssuetoemergingartistsfromtheregion?Oristhereasystematworkthathasbeenservingtoestablishthevalueofart?It appears that the UAE decided to embark on a shortcutthattakesadvantageofthedecades,oreventhehundredsofyears,ofartknowledgethatWesterncountriesemployedtograntvaluetotheirarts.Thereisadifferencebetween‘price’and‘value’.Itispossibleforthepriceofartworksofthewinssningartiststoreachinternationalstandardsbytime,butthequestionremainswhetherartcreatedinsuchcountrieshasvalue.
IsTheUnitedArabEmiratesConstructingitsArtHistory?TheMechanismsthatConferValuetoArtbySteveSabella
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bility.Thefederationbetweenthesevenemirateshasprovedtobeverysuccessfulandisquiteuniqueasitisopentotheworld,yetmanagestoadheretolocaltraditionsandheritage.Thispolitical securityandmodelofexcellencehasencourssagedforeigninvestments(5).LivingstandardshavedramatisscallyimprovedintheUAEashugesumsofmoneyhavebeenpoured in to build the country’s infrastructure,develop itssocialinstitutions,createjobs,diversifytheeconomy(makssingitlessdependantonoil)andconsequentlyimprovelivssingstandards.ThepopulationofAbuDhabialonegrewby8%in2008,andtheurbanplanningcouncilestimatesthatthepopulationwilltrebleinthenexttwentyyearstomorethanthreemillion.Accordingly, thereareplanstodevelopadvancedtransportationtoincludemetro,railandtramsyssstems(6).TheUAEhasplanstobecomethefirstArabstatetodevelopatomicenergytomeetitshugepowerdemands(7).SinceitopenedinSeptember2004,theDubaiInternationalFinancial Centre (DIFC) is the world’s fastest growing inssternationalfinancialcentre.Italsoestablishedaworldsclassstockexchange,theDubaiInternationalFinancialExchange(DIFX)in2005(8).Withanannualcapitaof25,000pounds,AbuDhabiansareamongtherichestpeopleonearth(9).
2- Education. There is a correlation between wealth and culture(10). ThismightexplainwhyWesterncountriesappreciateart more than developing countries. RAND, an Americaninstitution that helps improve policy and decisionsmakingthroughresearchandanalysishasconductedastudytoexssplore the characteristics of art participants and the factorsthat influence art participation in the United States. Thestudyindicatesthat,historically,“educationhasproventobethesinglebestpredictorofparticipationinthefinearts.”(11)It found that people who attend museums are better edusscatedandhavehigherincomes.Italsofoundarelationship
4sIainRobertson,UnderstandingInternationalArtMarketsandManagement,16.5sEmbassyoftheUnitedArabEmirates,“ASuccessfulFederation,”http://uaesembassy.org/html/trdln0607web/tl0507p24.html(accessedNov10,2008).6s James Drummond, “Abu Dhabi’s Growing Pains,” The Financial Times (September 9, 200), http://www.ft.com/cms/s/0/0466e3bas7e08s11ddsbdbds000077b07658.html.(accessedNovember10,2008).7sSimeonKerr,“UAEsetsouttobecomefirstArabnuclearstate,”TheFinancialTimes(March25,2008),http://www.ft.com/cms/s/0/b17da690sf9f8s11dcs9b7cs000077b07658.html.(accessedNovember12,2008).8sDubaiInternationalFinancialCentre,“AboutDIFC,”http://www.difc.ae(accessedNovember20,2008).9sLizGill,“BusyatnotbeingDubai,”TheFinancialTimes(October20,2007),http://www.ft.com/cms/s/0/ba891776s7d23s11dcsaee2s0000779fd2ac.html.(acsscessedNovember14,2008).10sIainRobertson,UnderstandingInternationalArtMarketsandManagement,17.11sKevinF.McCarthy,“AportraitoftheVisualArts:MeetingtheChallengesofaNewEra,”(RANDCorp.;SantaMonica,CA,2005),21.12sHigherCollegesofTechnology,“HCTataGlance”,http://www.hct.ac.ae/misc/aspx/hct_at_a_glance.aspx?p=aa(accessedNovember16,2008).13sLizGill,«BusyatnotbeingDubai,”TheFinancialTimes,(October20,2007).14shttp://www.abudhabichamber.ae/user/default.aspx
betweenincomeandeducation,suggestingthatpeoplewhoearnahigherincometendtobemoreeducated.Hence,wecanconsidergeneraleducationasaninternalfactorinaddingvaluetotheartsasithelpspeopletoappreciatethemedium.With time, this appreciation and the increased level of artparticipation,willgiverisetopeoplewhogrowintoasocietythatisculturallyandartisticallynurtured.Itisinevitablethatartappreciationwillstarttotranslateintovalue.TheUAEwhichisaveryrichcountry,hasrealizedtheimportanceofgeneral education. It has made it a priority in the last twodecades.Educationspendingwas4.6billionUSDin2008andisgenerallybyfarthelargestiteminthefederalbudget(12) (Appendix 1, contains a summary of the education intheUAE).
3- Government policies. ThefederalgovernmentoftheUAEhasrecognizedthatitisapoliticalprioritytoenhancethepublicinfrastrucssturetoachievecivilizedlife.In2005,foreignerswereallowedtoownlandonaleaseholdbasiswhichhastriggeredaboominconstructionandforeigninvestmentinmanypartsofAbuDhabi,similartotheonethathasbeenoccurringinDubai(13).AccordingtotheAbuDhabiChamberofCommerceandIndustry,“TheUnitedArabEmirateshasoneofthemostdynamiceconomies in theGulfwithaboomingoil indussstry, Free Trade Zone with 100 % foreign ownership, stockexchange,privatization,industrialzones,andanopenbankssingsystem.”(14)TheUAEhasnoincome,sales,property,orvalueaddedtaxes(15).Over75%ofimportsenterdutyfreeand 25% are subject to a 5% tariff. There are no duties onexports. As for intellectualproperty, theUAE(which isamember of the World Intellectual Property Organization)passedthreelawsin1992protectingintellectualproperty:acopyrightlaw,atrademarklaw,andapatentlaw.Implemensstation of the copyright law began in September 1994 (16).
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The“droitdesuite”(artistresaleright)doesnotexist,furtherencouragingartbusinessestoruntheirventuresintheUAE.In brief, there are many foreign investment incentives thathave encouraged auction houses, museums and galleries tosetupbusinessesintheUAE.
4- Museums. The role of museums is essential in validating artandinaddingvaluetoit(17).Itisnecessaryforcountriestobuildtheirownmuseumsandworkonpromotingtheircolsslectionsglobally.UNESCOcrownedSharjahtheCulturalCapitaloftheArabworldin1998dueto“itscommitmenttoart,cultureandpreservingitsheritage.”(18)Ithousesover25museumsandart institutionsandtheatre,music,paintssingandsculpturearewidelyencouraged.Themuseumsarediverse enough to include aircraft and natural history andtheSharjahArtMuseumisthelargestgalleryintheMiddleEast. Perhaps,aninfluentialfactorinaddingvaluetoartintheUAEisthebuildingofalocalLouvre(19)(designedbyJeanNouvel)andGuggenheim(designedbyFrankGehssry) inAbuDhabi.Suchvaluedandbrandedmuseumswillhelptovalidateartists’workandadvancetheircareersfaster,especiallywhenthesemuseumsstartacquiringtheworkoflocalartistsintheirpermanentcollections.ThiscanbeconsssideredatacticalmoveasitmakesfulluseoftheestablishedreputationofthesemuseumsratherthanwaitdecadesuntilthelocalartmuseumsthattheUAEhasbuilt,acquireasimisslarreputationwhichcaninreturnbestowasimilarvaluetocollectedartworks.Also,museumsplaya“fundamentalroletothegeneraleducationofartsappreciation.”(20)Artworkswhichbecomepartofmuseumcollectionsenhance“thepedssigreeandfuturesalesoftheartistandprimarydealer.” (21)Hence,museumsarerequiredtoempowertheartistandthegalleryandtocontributetotheartmarketstructure.Howssever,brandedmuseumsrequirearttofilluptheirspacesandcollectionsandoftenneedtoacquireartworksfrombranded
15sCorporatetaxesareappliedonlytooilsproducingcompaniesandbranchesofforeignbanks.16shttp://www.abudhabichamber.ae/user/default.aspx17sIainRobertson,UnderstandingInternationalArtMarketsandManagement,22.18sRobin Wigglesworth, “Sharjah plays its culture card,” The Financial Times (September 11, 2008), http://www.ft.com/cms/s/0/feee2658s7f4es11ddsa3das000077b07658,s01=1.html.(accessedNovember14,2008).19sThemuseumwillbeknownasLouvreAbuDhabiandwillhave300artworksonloanfromtheLouvreforaperiodof15years.20sIainRobertsonandDerrickChong,“IntroductiontoStudiesinArtbusiness,”TheArtBusiness(Routledge;London,2008),13.21sDerrickChong,“MarketinginArtBusiness:ExchangeRelationshipbyCommercialGalleriesandPublicArtMuseums,”TheArtBusiness,ed.IainRobertsonandDerrickChong,(Routledge;London,2008),p117.22sAccordingtoBonhamspressrelease“FarhadMoshiri’s“Eshgh”(Love)broketwoworldrecordsatBonhamsfirstMiddleEastauction,beingthefirstMiddleEastworkofarttosellatauctionforoverUS$1millionandalsoplacingMoshiriasthehighestachievingIranianartistatauction”.
artists toattractattention. Intheory, it ispossible that thenewartenvironmentemergingintheUAEseeksindirectlytocreateart stars likeFarhadMoshiri,whosecreated famewillhelpmuseumsfulfilltheirmissionsandjustifytheirconssstructions(22).Still,itwillbeachallengingtaskfortheUAEtosustainbrandedmuseums.
5- Biennales. Curatorialshowsbringinfluentialpeopletotheressgion:artists,dealers,criticsandcollectors.Sinceitsinception,theSharjahBiennialhaspositioneditselfasadistinguishedcultural event in theArabworld that is constantlygaining
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FarhadMoshiri,2007SoldatBonhamsin2008
Painting,Mixedmedia(Swarovskicrystals&glitter/canvas&acrylic/mdf )
Soldatapriceof1,048,000USD(premium).EstimatedatUSD150,000s200,000
momentum.JackPersekian,curatorofthe7thBiennaleandartisticdirectorofthe8thBiennale,assertsthenecessityoffocusingonartistsfromtheregioninordertoensure“alterssnativemeansandresourcesforartistsandtheirworkoutsidetheknownchannelsofsupport,whichmainlyoriginateintheWest (23).Accordingly,SharjahBiennale8featured80artistsfromover40countries,including28artistsfromtheArabworld.Furthermore,biennalesattractextensivemediaexposure,andofferopportunities forcritics toevaluateartshows.Although,theroleofthecritichasbeenmarginalizedintheWest,theirfunctioninemergingartcountriesisstillessential. Toprovideaplatformforcriticstosharetheirarticles,threedistinguishedartmagazineshaveappearedthatspecifisscallytackleartandculture intheMiddleEast.Establishedin 2003, Bidoun magazine (already issue 16), has gainedan internationalreputationandhasa stand inmajor interssnationalartfairs.Canvasmagazine(establishedin2004)ispublishedinDubaiandhasalsogainedrecognition.NafasArt Magazine (established in 2003) is an online magazinethatcoverscontemporaryartfromIslamicinfluencedcounsstries and regions. It is published by Universes in Universe(24). Worth mentioning is the new journal, ContemporaryPracticeswhichwaslaunchedalittleoverayearago.ItsheadofficesareinLondon,withabranchinDubai.Thisjournal,whichisnowinitsfourthedition,isdevotedtothestudyofcontemporaryMiddleEastartpractices.
6- Galleries. Top dealers are influential tastemakers and are imssportanteconomicallyandculturally.Theycanalsoperformascurators,sponsorsandsupportersofpublicartinstitutions(25). Foraprosperingartmarket, it isnecessaryto“securethelivelihoodoftheartist”whoisactuallythemainfactorinthemarketcircle(26).Tensofcommercialgalleries,whichdealintheprimarymarket,haveopenedinthelastfewyears,mostnotably:1x1ArtSpace,ArtSpaceDubai,B21Gallery,
23sJackPersekian,“Inthebeginningwastheact,’http://www.sharjahbiennial.org(accessedNovember29,2008).24sUniversesinUniverse,“NafasArtMagazineEditorial,”http://universessinsuniverse.org/eng/nafas/editorial(accessedNovember25,2008).25sCatherineMorel,“PrivatePatronsinaContemporaryArtMarket”,TheArtBusiness,105.26sIainRobertson,UnderstandingInternationalArtMarketsandManagement,68.27sAndrewEdgecliffesJohnson,“SaatchiintalksonopeninggalleryinartshungryUAE,”TheFinancialTimes(November17,2007),http://www.ft.com/cms/s/0/9a187d92s94b1s11dcs9aafs0000779fd2ac.html,(accessedDecember6,2008).28sItisclearthatUAEneedstimeuntilenoughartiscirculatedandartappreciationincreasesforaflourishingsecondarymarkettodevelop.29sSomecollectors(likeSaatchi)alsoplayamajorroleinaddingvaluetoartworkswhentheyincludethemintheircollection.TherulingQatarifamilyAlsThaniareemergingasdistinctivecollectors.30sSimeonKerr,“DubaibuyersliftMiddleEastArt,”TheFinancialTimes(November3,2007).31sSelinArkut,“Corporateculture”,(November8,2007),http://www.arabianbusiness.com/537438scorporatesculture.(accessedNovember29,2008).
Courtyard Gallery, The Flying House, Green Art Gallery,MajilisGallery,SaharyGateGallery,XVAGallery,GhafArtGallery,ExpoCentreSharjahandTheThirdLine. Secondarymarketgalleriesarealsocrucialdistribusstion channels in any established art market. The FinancialTimes reported in 2007 that Charles Saatchi planned toopenagalleryinthe“artshungryUAE”(27).Thismovecanbe considered an endorsement from a leading figure. TheSamuelOsbornegallerywhichdealsinprimaryandsecondssarymarketsinLondonalsohassimilarplanstoopenagalssleryinAbuDhabi.GiventheyoungageoftheUAEmarket,itremainstobeseenhowthesecondaryartmarketdevelopsinthissector(28).Inbrief,primaryandsecondarygalleriescan be seen as the corner stone of any country aspiring tohaveahealthyartmarket.
7- Collectors. Collectors are required to support artists and helpsustaintheirlivelihood(29).TherehasbeenadistinctshiftintasteforArabcollectorsintheGulfwhowerepreviouslyfixssatedwithwatercolorsand‘orientalist’oilpaintingsofharemsandhorses(30). ThesecollectorsarenowpurchasingAndyWarhol,DamienHirstaswellascontemporaryArabartandtheyareeffectivelytakingpartinvalidatingtheworkofArabartists.Astrongbodyofprivateandcorporatecollectorsisneededtoensurethecirculationanddemandforartintheartmarket.More art collectors like the Emirati Abdul RaheemsSharifwhorunsTheFlyingHouseneedtoemergeandbeencourssaged.Thisinturnenticesartiststocreatemore.Asdemandincreases,thearteconomyprogresses. Demand for art to decorate corporate offices hasrisenconsiderably,particularlyinDubai(31).Companiesressalizetheinfluencesuchcollectionshaveontheircorporateimageintermsofprestigeandbranding.SeriouscollectionsaregrowingandtheDIFChasbuiltalargeartcollectionofitsown, featuring theworksof local, regionaland internass
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tional artists. As a confirmation of the importance of thiscollection,“JPMorganannouncedthatitwillbeexhibiting[inDubai]masterartworksfromtheJPMorganChaseArtCollection at a special exhibition in partnership with theDubaiInternationalFinancialCentre.”(32) Furthermore,therehasbeenanincreasingparticipasstionofMiddleEastern (33)andIranianbuyers inauctionsintheUAE.Christie’s statistics indicatethat intheirApril30,2008auction,77%ofbuyerswerefromtheMiddleEastandIran.Thisisupfromanaverageof50%inprevioussales(34).
8- Auction Houses. In2005,Christiesspottedthepotentialofthisnewemergingartmarketandopenedaregionaloffice.Ayearlatsser,ittestedthemarketwithitsfirstauctionwhere94%ofthelotssoldbyvalue($8.5m).Theywereboughtbybuyersfromseventeendifferentcountries(35).In2007,Bonham’sopenedanofficeinDubaiandinMarch2008,withitsfirstauction,it broke three world records for three regional artists. Theauctionachievedthreetimestheexpectedresultswith94%ofthelotsbeingsold(36).ItisrememberedforbeingthefirstauctionwhereaMiddleEasternartistpassedtheonemillionUSDsale.Similarly,PhillipsdePuryhasannouncedplanstoholdauctionsofMiddleEasterncontemporaryartinDubaifromSpring2009(37).ThisisasignthattheUAEisemergssingasa“commercialhubformoderncontemporaryartfromtheregion”.(38) Eventhough,Sotheby’shaspickedQatarasitsbaseintheMiddleEastandisaimingtoholditsfirstauctioninthe spring of 2009 (39) it can be argued that the UAE hasencouraged competition, which in turn, is affecting other
32sDubaiInternationalFinancialCentre,“HisHighnessSheikhMajidbinMohammedOpensDIFCArtCollection1,”June23,2008,http://www.difc.ae/press_centre/archive/2008/512.html(accessedNovember25,2008).33sTherulingQatarifamilyAlsThanihaveboughttheDamianHirst’sLullabySpringfor£9.7mandarealsobelievedtohavepurchasedtheRockefellerRothkofor$72.8mThisisasignthatArabcollectorsarestartingtoinfluencetheartmarket.SarahThornton,«Revealed:RoyalfamilyofQatarisbuyerofworld’smostexpensiveHirst,”TheArtNewspaper(May1,2008),http://www.theartnewspaper.com/article.asp?id=8412.(accessedDecember2,2008).34sAndersPetterson,«MiddlesEast,Modern&ContemporaryArtMarket,»ArtTactic,October2008,http://www.arttactic.com/opensreport.php?type=reports_other&id=20(accessedDecember3,2008).35sSusanMoore,«Dubai’sthelimit,”TheFinancialTimes(March2,2007),http://www.ft.com/cms/s/0/5a0d8e08sc82as11dbsb0dcs000b5df10621.html(acsscessedNovember30,2008).36sBonhams,«BonhamsDubaiBreaksThreeWorldRecords,»March2008,http://www.bonhams.com(accessedNovember27,2008).37sAntoniaCarver,«MiddleEast,Sotheby’spicksQatar.,”TheArtNewspaper196(Nov.2008):67.38sBonhams,«BonhamsDubaiBreaksThreeWorldRecords,»March2008.39sMiddleEast,Setheby’spikcsQatar.Auctionstobeheldfrom2009.ArtNewspaper,No.196.Nov.2008.AntoniaCarver.Page6740sArtBasel,ArtBaselMiamiBeach,Frieze,TEFAFandFIAC.41sSusanMoore,«Dubai’sthelimit,”TheFinancialTimes(March2,2007).42sGarethHarris«Artactually,”TheFinancialTimes(March1,2008),http://www.ft.com/cms/s/0/86c8a8bese733s11dcsb5c3s0000779fd2ac.html,(accessedDecember4,2008).
countries intheregion.ThishasalsoledauctionhousestofocusmoreonIranianandMiddleEasternartintheirmainofficesinLondonandNewYork.ThereisnodoubtthattheachievedpriceshavetriggeredattentionandcontributedtotheadditionofvaluetoartoriginatingintheMiddleEast.To explore this impact, the auction results of three artistshavebeengraphed.Thegraphsshowthat theirpriceshavereachedrecordhighlevels,provingthatwhentherightartinfrastructure is set, the value for their artworks increases(Appendix2).
9- Art Fairs. As art fairs proliferate worldwide, the UAE hasmadesuretoalign itselfwiththisexperience.Withthearssrival of Christie’s and the consequent opening of commersscialgalleries,theideaofthefirstGulfArtFairwasborn.Itwascreatedasanannualeventwiththeaimofdevelopingitasaninternationalartmarkettocompetewiththetopfive(40).Thefairalsoaimstocreateforumsthatbringtogetherregional and international artists, writers, collectors, curasstors and academics to discuss ideas to promote the arts intheUAE(41).RenamingitselftotheArtDubaifair(initssecondyear),itmanagedtoattract400galleryapplications,ofwhich71werechosen,comparedtothe41whoparticisspatedinthefirstGulfArtFair.JohnMartin,thefairdirector,explainsthat“DubaiisakeystoppingpointbetweenIndia,eastEuropeandAfrica.Itisalsoafinancialhubandataxsfreehavenwhichisimportantforcollectors.”(42)TheCreekArtFair is a satellite fair that has been running parallel to ArtDubaisince2007andaimstoshowcaseyoungertalents.ItisimportantbecauseitacceptsandpromotesaconsiderablenumberoftheUAElocalgalleries.(43)
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Abu Dhabi followed by introducing the artparissAbuDhabi fair in2007.Asartparis (44) isan internationalfair dedicated to modern and contemporary art, this assossciationandpartnershipawardstheGulfregionwithanothermeetingpointfortheartmarket,artcollectorsandartloversin general (45). It also exposes exhibiting Arab artists to alargeraudiencewhichhelpstointernationallyvalidatetheirart.Theimmediateassociationwithartparisendorsestheposstentialoftheregion’sartmarket,withUAEatitsepicenter.
Concluding Remarks Art is an ‘object of exchange’. Given that contemssporaryarthasmovedfroma‘pure’visualaestheticpleasuretotherealmofintellectwherearttheoryisoftenneededtomakeoneseeanobjectasart,onecouldarguethateducationinitsbroadermeaning,andarteducationspecifically,mightbenecessarycomponentsinanycultureseekingtoaddvaluetoitsart(46).‘Value’inaesthetictermsisinextricablyassocissatedwiththeidea,nottheobject,asAnthonyDowneyarssguesandonecanconcludethatvalueisalsoassociatedwiththe level of intellectuality a person acquires. Sol Lewitt, aconceptualartist,believedthattheideaprecedestheartworkandistheprivilegedbearerof‘value’(47).Inotherwords,ifyoudonotgetthe‘idea’,chancesarehighthatyouwillnotattributeanyvaluetotheworkofart. The UAE is building its cultural credentials at arecordspeed.Tocontextualize theapparent successof thisMiddleEasternmarket,comparingittootheremergingartmarketsliketheIndianandChinesemightbenecessary.TheUAEasacountryhasmorewealth,enjoysastablepoliticalregimeandhasanimpressiveurbaninfrastructure,grantingit thenecessary tools toposition itselfasacompetitiveartmarketinthelongrun.Itisalreadyahubforallneighboringcountriesandisconstantlyattractingmoreinvestorsandartssists. The price of a work of art, as Robertson indicates,does not necessarily match its value as often prices exceedvalue(48).Attimeswhentheglobalfinancialcrisisisaffectssingtheartmarketasawhole,itishopedthattheUAEmay43sCreekArtFair,“CreekArtFair2009,”http://creekartfair.com/index.php/general_info.(accessedDecember2,2008).44sThisishowthefairbrandsitsname,withasmallletter‘a’—artparis.45sArtparis,«Aboutus,”http://www.artparissabudhabi.com/index_uk.php?id=40,(accessedDecember3,2008).46sIainRobertsonandDerrickChong,TheArtBusiness,14s59.47sAnthonyDowney,“SellingUseDCars,CarpetsandArt,”TheArtBusiness,55s66.48sIbid.,48.49sAndersPetterson,“TheCorrection.”ArtTactic,November2008,http://www.arttactic.com/subscriptionsnewsletter.php?id=16(accessedDecember3,2008).50sIainRobertson,VictoriaTseng,SonalSingh,“ChindiaAsArtMarketPpportunity,’TheArtBusiness,87.51s”Africaeconomy:Tryingtoweatherthestorm,”EIUViewsWireOctober31,2008,http://www.proquest.com/(accessedNovember17,2008).
beontherighttracktoproducingartistswhoseworkshouldbemorevaluedbymuseumsandcuratorial shows.Thisalsslowstheirworktogainsubstance,qualityandartisticmerssit. The rapid growth that was witnessed in auction roomsshouldnotbethesolefactorthatattributesvaluetoworksofart(49). Consumingartisaformofaddiction(50)but,unlikenormaldrugs,artaddictionrequiresmoretimetoinfluencethebrain.Thatis,changesintheperceptionofvaluewillocsscurovertime.Hence,iftheUAEcontinuesonthistrackandsucceedsincreatingafunctioningandcoordinatedartinfrastructure, itmightbesuccessful increatingagenerationofpeople who will become art savvy and influential. Twentyyearsfromnow,peopleborninthisnewreality,mightwonssderhowtheirparents livedinanerathathadnoart infrassstructure whatsoever. People wrongly assume that the artboomintheUAEwassolelyduetothearrivaloftheauctionhouses,ratherthantothedevelopmentofallthefactorsexssplainedabove.Therefore,asarthistoryisrarelymadeinaucsstionhouses,itstillhastobeseenwhetherthenewacquiredpriceswilltranslateinto‘solidvalue’andsurvivethetestoftime.
Steve SabellaisaLondontbasedPalestinianartistwhousesphotogttraphyandphotoinstallationashisprincipalmediumofexpression.HeislaureateoftheAkademiederKunster(AcademyoftheArts)Award in Berlin, Germany in 2008. His international shows inttclude:NeighborsinDialogue(Istanbul,Turkey2007andSarajevo,Bosnia2008),andGatesoftheMediterranean(Rivoli,Italy,2008).He is part of the Ars Aevi Museum collection in Sarajevo. For hisMaster’s degree in Photographic Studies, Sabella was awarded theCaparoawardofdistinctionfromtheUniversityofWestminster,andcurrentlyheispursuingaMaster’sdegreeinArtBusinessatSotheby’sInstituteofArtinLondon.
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McCarthyF.Kevin,“APortraitoftheVisualArts:MeetingtheChallenges of a New Era,” (RAND Corp.; Santa Monica, CA,2005),
MooreSusan,“Dubai’sthelimit,”TheFinancialTimes(March2,2007), http://www.ft.com/cms/s/0/5a0d8e08sc82as11dbsb0dcs000b5df10621.html(accessedNovember30,2008).
Persekian,Jack,“Inthebeginningwastheact,”http://www.sharssjahbiennial.org(accessedNovember29,2008).
PettersonAnders,“TheCorrection,”ArtTactic,November2008,http://www.arttactic.com/subscriptionsnewsletter.php?id=16(accessedDecember3,2008).
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Robertson Iain, Understanding International Art Markets andManagement(Routledge;London,2005).
Sharjah, “Sharjahhasalwaysbeenapioneer incultureandedusscation,” http://www.sharjahtourism.ae/en/category/education/universityscity/(accessedNovember18,2008).
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Appendix 1
UNESCOputtheadultliteracyrateintheUAEat89%in2007,upsharplyfrom77%in2003and43%in1975.Asforhigheredusscation,wealthyfamiliessendtheirchildrentostudyintheUnitedStatesorEurope.ThosewhochoosetostudyintheUAEhaveachoiceofseveraluniversities.Prominentuniversitiesare:EmiratesUniversity(establishedin1977)atAlAininAbuDhabi,ZayedUniversity(establishedin1998),whichhascampusesinAbuDhassbiandDubai,TheHigherCollegesofTechnology(establishedin1988andiswellrespectedforinnovativelearningintheUnitedArabEmirates)andanumberofvocationalcolleges,amongothssers.However, toprotectnational identityandtoencouragestussdentstoseekhighereducationintheUAE,thecountryembarkedonthecreationoftheDubaiInternationalAcademicCity.Worldsrenownedacademicinstitutionshavebeeninvitedtobecomepartofthis“dedicatededucationfreezone.”(51)Themostprestigiousuniversity to have established a presence in the UAE is France’sSorbonne, which opened a campus in Abu Dhabi in October2006.AbuDhabi isalso fundingtheestablishmentofacampusfortheNewYorkUniversitywhichshouldacceptitsfirstintakeofstudentsin2010.Sharjah,withtheestablishmentofSharjah’sUniversity City in 1997, has become a major learning center intheMiddleEast.SharjahnowboastshighprofileeducationalcenssterssuchastheAmericanUniversityofSharjah,theContinuingEducation Centre, Sharjah University, The Higher Colleges ofTechnology,SharjahWomen’sCollege,HorizonCollege,Sharjah
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CollegeandtheSharjahInstituteforArabCalligraphyandOrnassmentations,theSharjahTheatreInstituteandtheDiscoveryCensstre,amongotherprestigiouseducationalinstitutions.ItconsistsofseveraluniversitiesofwhichtheAmericanUniversityofSharjah(AUS)isthemostprominent(52).
Appendix 2
Farhad Moshiri (b. 1963, Iran)AccordingtoArtPrice,hisfirstauctionwasinMay2006wherehisworksoldfor48,000USD(fourtimestheupperestimate).Pricescontinuedtorisesteadilyreachingfour,fiveandevensixfigures.Consequently,hebecamethefirstartistintheMiddleEasttosellformorethanonemillionUSD(“Love”soldfor1,048,000USDBonhamsDubai).ItcouldbearguedthatduetothesuccessofFarsshadMoshiri’smarketintheMiddleEast,hemanagedtobecomepartofthemainWesternContemporaryEveningsaleinJuly2008at Sotheby’s in London, where his work sold for 560,000 USD— three times higher than its upper estimate. 53 The Arab andIranianartworkshavebeenperformingwell aboveexpectations.One can argue that they had an obscured monetary value waitssingtobediscoveredbytherisingofavibrantculturallandscape,propermarketingandrepresentation(54).
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52sSharjah,“Sharjahhasalwaysbeenapioneerincultureandeducation,”http://www.sharjahtourism.ae/en/category/education/universityscity/(accessedNovemssber18,2008).53sAndersPetterson,“MiddlesEast,Modern&ContemporaryArtMarket,”ArtTactic,October2008,54sIbid.
Farhad Moshiri (b. 1963, Iran)
*datacollectedfromartnet
Totalpressalelowerestimate $2,076,961
Totalpressaleupperestimate $2,810,917
Totalsoldamount $4,728,951
Sold%byno.lots 75%
Averagesoldprice $363,765
Median $253,844
Ascanbenoticedthatthesoldpricewasoftenmuchabovetheupperestimate.ThefactthathisartworksdidnotsellinOct.8,2008,mightberelatedtothecreditcrunchthegeneralworldeconomyisgoingthroughandtheconsequenteffectsontheartmarket.GraphicaldataistruetoNovember2008.
Abdul Kadir Al-Raes (b. 1951 UAE)
*datacollectedfromartnet
Totalpressalelowerestimate $525,000
Totalpressaleupperestimate $795,000
Totalsoldamount $1,084,380
Sold%byno.lots 86%
Averagesoldprice $180,730
Median $139,490
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Abdul Kadir AL-Raes. (1951, UAE)HiscaseisimportantbecauseheisanartistfromtheUAEandonecouldclaimthathisartworksmighthavestayedunknownhaditnotbeenforthiscountry’snewlyestablisheddistributionsystems.HisfirstauctionpresencestartedinFeb.2007withapriceof112,288GBP(fourtimestheupperestimate)foraworkhecreatedin1995.Interestingly,thissuccessmighthaveinfluencedthevalueoflaterartworkswhichhavereachedpricesof161,472GBP.
GraphicaldataistruetoNovember2008
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Paul Guiragossain (1927-1993, Lebanon) Itisnecessaryforthisresearchtoseehowthemarketinfluencestheworkofdeadartists.Artnetlists35auctionresultsforGuiragossain.Hisfirstauctionpresencewasin2001atSotheby’sLondonwheretwoofhisartworkssoldfor5,000GBPand8,500GBPintheMayauction.IntheSeptemberauctionofthesameyear,histwolotsfailedtosell.Apparently,themarketlostconfidenceinhisworkuntiltheDubaiChristie’ssalein2006wherehisworksoldfor24,000USD.Sincethen,thepriceofhisworkhassteadilyincreasedto169,000USD.Hisaveragein2006,2007and2008was77,000USD.ItappearsthatthereisacorrelationbetweenthenewlydevelopedartmarketandthereemergenceofGuiragossain.Also,itishighlyprobssablethathisworkreceivedexposuretoaninterestedaudiencewhoplacedthecorrectvalueonhiswork.
Paul Guiragossian (1927-1993, Lebanon)
*datacollectedfromartnet
Totalpressalelowerestimate $1,643,099
Totalpressaleupperestimate $2,212,167
Totalsoldamount $2,166,169
Sold%byno.lots 88%
Averagesoldprice $77,363
Mode 78,000
Median 62,400
GraphicaldataistruetoNovember2008
