Turkish Art Market News II
Christie’s Modern and Contemporary Arab, Iranian and Turkish Art Part I and II 23&24 October 2012
The 29 lot strong Part I sale at Christie’s October auction of Modern and Contemporary Arab, Iranian and Turkish Art totalled $3,640,100/AED 13,370,087 and was 96% sold.
The Sale of Modern and Contemporary Arab, Iranian and Turkish Art Part II realised a total of $2,260,250/AED8,295,1174, selling 88% by value.
Ramazan Bayrakoglu’s „Sandra“ sold for more than double of its estimated value for $92,500. Arzu Akgun’s „Model 1“ was sold way beyond its estimate of $6,000-$8,000 for a prize of $23,750.
Michael Jeha, Managing Director of Christie’s Middle East and Head of Sale, stated after the sale:
“The combined total for this, our 12th season in the Middle East, is an encouraging indication of the continuing maturity and long term strength within this market. The strong selling rate tonight of 93% shows that this was the right decision and the market is ready for this next step. It is really encouraging to see this market continue to flourish and to encourage the next generation of artists and bidders. About a fifth of the artists represented in the part II sale tonight were being sold at auction for the first time and were under 35.”
New world record for Fahrelnissa ZeidA fabulous collection of paintings by Princess Fahrelnissa Zeid (1901-1991), work previously unknown, was sold in Bonhams Indian and Islamic art sale on 2 October 2012. The sale achieved a total of £2,021,838.
The collection of works by the Princess came to light when a former employee of the family unearthed a box containing over 150 sketches, drawings, canvases, notebooks and letters, given to him when the artist moved residences. Many of the works greatly exceeded their pre-sale estimates.
The late Princess Fahrelnissa Zeid, (1901 – 1991) was a Turkish artist whose work blended the elements of Islamic and Byzantine art with western influences. She married into the Hashemite royal family of Iraq and is the mother of Prince Ra'ad, the claimant to the Iraqi throne.
Many of the works greatly exceeded their pre-sale estimates. A new world record for works on paper was achieved for this artist by "Hotel Meguerditch Tokatlian at Therapia Bay", an ink and watercolour on card, selling for £26,000 on an estimate of £3,000-5,000.
Works on canvas performed exceptionally as well with paintings of Istanbul scenes including Emin Efendi Lokantasi achieving £217,000, Boats on the Bosphorus achieving £133,000 and a portrait of Queen Aliyeh of Jordan Arabian Queen achieving £127,000.
Fahrelnissa was born in Istanbul into a prominent Ottoman family. Her father was the brother of the Grand Vizier and her mother was from an artistic family in Crete, sister of the author of the Fisherman of Halicarnassus.
She was then one of the first women to attend the Fine Arts Academy (Güzel Sanatlar Akademisi) in Istanbul and later in Paris at the Academie Ranson.