Sotheby's will hold its second auction in Saudi Arabia on January 31, 2026, following a successful inaugural sale in Diriyah in February 2024 that netted $17.3 million. The upcoming sale, titled "Origins," features over 70 works by established Saudi Arabian and Middle Eastern artists alongside international names, with top lots including a Pablo Picasso painting estimated at $2–3 million and works by Jean Dubuffet, Roy Lichtenstein, and Andy Warhol. The auction aims to build on lessons from the first sale, which revealed strong demand across price points and generational diversity among buyers.
This auction matters because it signals Sotheby's deepening commitment to the Saudi Arabian art market, a region the auction house has actively courted since incorporating in the kingdom and opening a Riyadh office in 2023. The focus on local modern and contemporary artists, alongside blue-chip Western works, reflects a strategic effort to cultivate a new collector base in the Gulf, with nearly a third of buyers from Saudi Arabia in the first sale. The timing also coincides with the opening of the Diriyah art district, underscoring the kingdom's broader cultural ambitions under Vision 2030.