Sotheby's second auction in Saudi Arabia, 'Origins II,' concluded with strong results, achieving a hammer total of $15.4 million and an 89% sell-through rate. The sale demonstrated robust demand for regional artists, particularly Arab Modernists, while some high-profile Western works were withdrawn or failed to sell. The standout lot was a 1968 painting by the late Saudi pioneer Safeya Binzagr, titled 'Coffee Shop in Madina Road,' which sold for $1.1 million, significantly outperforming a Picasso work in the same sale.
The sale's success signals the growing maturity and confidence of the Gulf art market, with Saudi buyers representing about a third of the participants. It highlights a shifting focus towards regional masters and works with Arab cultural references, even within a global auction context. The record price for Binzagr underscores the rising institutional and market recognition for foundational Saudi artists, coinciding with major local events like the Diriyah Biennale and the kingdom's substantial cultural infrastructure investments.