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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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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).

Robertson Iain and Chong Derrick, The Art Bbusiness (Routssledge;London,2008).

Robertson Iain, Understanding International Art Markets andManagement(Routledge;London,2005).

Sharjah, “Sharjahhasalwaysbeenapioneer incultureandedusscation,” http://www.sharjahtourism.ae/en/category/education/universityscity/(accessedNovember18,2008).

Thornton Sarah, “Revealed: Royal family of Qatar is buyer ofworld’smostexpensiveHirst,”TheArtNewspaper(May1,2008),http://www.theartnewspaper.com/article.asp?id=8412.(accessedDecember2,2008).

Universes in Universe, “Nafas Art Magazine Editorial,” http://universessinsuniverse.org/eng/nafas/editorial (accessed Novemssber25,2008).

WigglesworthRobin,“Sharjahplaysitsculturecard,”TheFinansscial Times (September 11, 2008), http://www.ft.com/cms/s/0/feee2658s7f4es11ddsa3das000077b07658,s01=1.html. (accessedNovember14,2008).

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)


Totalpressalelowerestimate $525,000

Totalpressaleupperestimate $795,000


Sold%byno.lots 86%


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)


Totalpressalelowerestimate $1,643,099

Totalpressaleupperestimate $2,212,167


Sold%byno.lots 88%


Mode 78,000

Median 62,400

GraphicaldataistruetoNovember2008